Question 1

How much do I need to retire?

Accepted Answer

General rule: 10-12 times your final annual salary. If you spend $60K/year, aim for $600K-$720K. However, depends on lifestyle and plans. Some use the 4% withdrawal rule.

Question 2

At what age should I start saving for retirement?

Accepted Answer

As early as possible! Starting at 25 vs 35 makes 2-3x difference. Compound interest rewards early starters. Begin when you get your first job.

Question 3

Should I use a 401(k) or IRA?

Accepted Answer

Use 401(k) first if employer matches - it's free money. Max out the match, then consider IRA for tax advantages. Both have tax benefits. Roth vs Traditional depends on your tax situation.

Question 4

How does inflation affect retirement?

Accepted Answer

At 3% inflation, $1M today is worth $410K in 30 years. Your returns must beat inflation. Stocks, real estate provide inflation protection. Bonds may lag behind inflation.

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