Probably, I don't think there is any amount of money you can get someone to retire and it will be enough. It is better for you to invest in a business venture before retirement.
How much money do you need to retire?
- Thread starter Joshua Farrell
- Start date
Over the years I've had this business plan I was pondering on which I'm hoping to gather capital to be able to execute it. So I getting $500 will be enough to start it up get me going without needing any other payments from anywhere.
I am at the start of my career, so I haven't thought about my retirement age yet, but after reading your discussion, I am thinking about what I should plan for my retirement age. Thanks for pointing out such an important topic.
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The idea is still very important and both of them cannot be underestimated. You can't start a business without a capital and at the same time you cannot start a business without an idea. Both of them must be present to have a complete balance before engaging in business.
Idea is needed in any business because that is the first thing that will project your mind towards establishing one but if you do not have the needed capital, it is as good as dead.
The amount that one should be looking at is the amount that you will be able to establish a very good business and that will give you passive income and give you financial freedom.
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Retiring without any tangible source of income does not really make sense because no matter how much you are paid, a time will come when the money will finish. Investing in a business venture is good if you want to retire.
Money needed before one retire depends on his work. Some works usually gives high amount of money so that you even or either start a business or investment once you have the strength and retire.
What you are saying is very true some firm will never compensate you after retirement while others will do the compensation with little Amount of money,so if you get retire with no compensation,then you can get loan to start a business
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future MD
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For me, there is no set amount you must have saved for retirement because inflation is unpredictable. Additionally, economic factors and your lifestyle will have an influence on your costs, so make sure you have at least a little business to support you even if you are not currently employed.
it depends from one person to another, talking about plans, I would like to make my own business and confirm that this one is going on the right path to decide my retirement.
It doesn't how much money I have at this moment because I can make them from my newest business
It doesn't how much money I have at this moment because I can make them from my newest business
Personally no amount of money can be quite enough for me to retire because I have different needs that arise on daily basis and I will need to settle them some of the challenges may be even larger than the money I have save.
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It would be very nice if one could get a reasonable amount of money that will be enough to establish a very good business after retirement. A business that would be very affordable would be an estate management business and it will require huge amount of capital like $100k to start.
That is also my main target, but however that is a huge sum of money and to be able to achieve that indicates that we must work hard. Not only about working hard but smart. We must also know how to manage the resources we have.
Personally no amount of money can be quite enough for me to retire because after my retirement, that's is the only money that my health, Bill's, will depend on.
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Even $400 is enough to make me quit my current job. this may sound ridiculous, but it is the truth because I'm earning what could be considered to be peanuts and it's not nice at all.
LoL, how a $400 make you to quit your current business?. $400 is not really a big amount of money that will make you to quit your job unless you are making very little amount of money that is not worth your time. You need to look for other jobs instead of wasting your time.
If I would retire, I would need enough Money to help me manage self, and my family so that I can enjoy my retirement peacefully, I would not like to broke.
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I don't think giving someone cash can sustain them for a very long time. I think you should use the money to open a business that would be giving you passive income. If you take the money and continue to spend it continuously, a time will come it will finish.
The amount of money I can be looking for the amount that will be enough to start up a good business also to invest big money in the business, so that it will really go long way for me in the future.
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