Start building lasting wealth in 9 (often missed) steps.

How Much You Need to Retire Fabulously

What you need to retire fabulously – step 2

How much do you need to retire fabulously? Find out here on this episode. Then download your FREE Queer Money Kickstarter, a 9-step Guide to Kickstart Your Journey to Financial Independence.

Watch more on how much you need to retire fabulously

How much do you need to retire fabulously -step 2

On this Queer Money®, we’re sharing how to estimate how much money you’ll need for different flavors of retirement. Basic, happy, and fabulous. For the best experience, we recommend watching this episode on YouTube. It includes examples and visuals to help you better understand how to estimate the amount of money you will need for different aspects of retirement.

On this episode, David and John discuss the different flavors of retirement – basic, happy, and fabulous. They encourage viewers to consider their retirement by breaking down their potential expenses into categories such as auto maintenance, dining out, entertainment, groceries, gym membership, health insurance, and mortgage or rent. They use real-world examples to illustrate how much money one might need for each category in a basic retirement. For instance, they estimate that an average retired couple might spend around $155,000 yearly on healthcare expenses. They also consider factors such as the cost of living and where they plan to retire. They emphasize the importance of understanding and planning for these expenses to achieve the retirement lifestyle one desires.

Your second assignment is to estimate your needs for a basic, happy, and fabulous retirement. Your major categories might differ from the ones mentioned on this episode, and you’ll likely have different price points. It’s personal, not an exact science, but more of an art. Do some research, talk to others, and figure out how much you’ll need for each category.

Share your thoughts and questions with us. We’ll soon host a free retirement chat to discuss your concerns and support each other. Make sure to join us next week when we discuss funding your retirement.

For the resources and to connect with our guests, get the show notes at: https://queermoneypodcast.com/subscribe. 

 

 

Previous Bonus Podcast Episodes

 

Click below to listen to this bonus episode.

Leave a Comment