So, I am not a big spender. I have some investment in stocks and focus on monthly savings and don’t usually splurge money.
That said, I don’t know if I am doing enough to save enough money for retirement.
Mostly I am trying to answer the following:
- Assuming I live the lifestyle I have today after retirement and I live till 85 years, how much money do I need to save before I retire?
- I have read about the 4% rule. It seems it assumes that investments usually have a 5-6% return. Is that true? How do I measure that for my investments?
- Currently I am working a job that I would say is “reasonably safe”. However, I would like to switch my job roles a little bit to companies with a little more challenge but also more financial risk. Before I do that I want to make sure I’ve saved decent so that I don’t have to financially worry if things go bad for a few years. How many more years do I need to be in this “reasonably safe” job before I do that switch?
- Should I get a retirement advisor? I talked to fidelity once but they wanted to continually manage my investments. But initially I am just looking for basic advice.