Retire Rich or Broke? The Math Behind It
Published: 2024-05-28
Status:
Available
|
Analyzed
Published: 2024-05-28
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
The UK's retirement age will increase to 67 by 2028 and to 68 by 2037.
"The UK will be putting its retirement age up to 67 by 2028 and it'll be 68 by 2037."
Pending
27% of retirees are either working or looking for work because they cannot afford to retire.
"around 20% of retirees were returning to work in either a full-time or part-time capacity with a further 7% actively looking for work."
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The average retiree's annual expenses are over $52,000.
"the average retirees expenses can come to over $52,000 a year"
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A 20-year retirement requires over $1 million in savings.
"you would need just over $1 million to cover your cost for a comfortable 20-year retirement."
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The average worker believes $1.46 million is needed for a comfortable retirement.
"the typical worker now believes they need $1.46 million to retire comfortably"
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Based on 80% of the average US salary ($777k), $1.24 million is needed for a 20-year retirement.
"on average An American in retirement will spend around 80% of their pre-retirement income with the average salary in the US of around $777,000 80% of this is around 62k logically then you need 1.24 million for a comfortable 20-year retirement"
Pending
The average retirement savings target is approximately $1.23 million.
"working out the average between all of these values gives us a ballpark figure of $1.23 million"
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A comfortable retirement in the UK costs approximately £750,000 (around $953,000 USD).
"a comfortable retirement in the UK would cost around £750,000 which is around $953,000"
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A luxurious retirement in Portugal costs less than $500,000 due to lower living costs.
"the low cost of living in Portugal means you can enjoy a luxurious silverhead lifestyle for under half a million bucks"
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Factoring in 2.4% annual inflation over 10 years, the retirement savings target increases from $1.23 million to just under $2 million.
"the average inflation rate over the last 10 years is 2.4% per year which means our $1.23 million becomes just under $2 million"
Pending
Considering the M2 money supply growth of 5.55% annually over 10 years, the retirement savings target increases from $1.23 million to $3.6 million.
"the M2 money growth Supply which sits at the annual average of 5.55% over the last 10 years so our 1.23 million actually becomes a jawdropping 3.6 million"
Pending
An adjusted retirement savings target, considering inflation and M2 growth, is approximately $2.8 million for a comfortable lifestyle.
"an average between the two gives us a rough estimate of $2.8 million that you'll need to have to have an easy lifestyle that you've always dreamed of"
Pending
To reach $2.8 million in 10 years with S&P 500's 13.2% average return, monthly investment of $961.03 is required.
"to achieve that 2.8 million doll goal in 10 years you would need to invest $961 and3 per month"
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To reach the $2.8 million goal over 20 years with S&P 500, monthly investment of $2,593 is required.
"you can hit the same Target over 20 years by investing $2,593 per month"
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To reach the $2.8 million goal over 50 years with S&P 500, monthly investment of $133.33 is required.
"investing over over a 50-year time frame would cost you just $133.33"
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To reach $2.7 million in 10 years with gold's 11.4% average return, monthly investment of $976 is required.
"to hit $2.7 million in 10 years you would need to invest a whopping $976 a month"
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To reach $2.7 million over 20 years with gold, monthly investment of $2,593.19 is required.
"over a 20e span gold Investments would cost you $2,593 185"
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To reach $2.7 million over 50 years with gold, monthly investment of $146.80 is required.
"spread those Investments over 50 years though and that will cost you $146.8 a month"
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To reach $2.8 million in 10 years with Bitcoin's 63% average annual return, monthly investment of $2,043 is required.
"to achieve our $2.8 million Target over 10 years you would need to invest $2,043 a month"
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To reach $2.8 million over 20 years with Bitcoin, monthly investment of $553.00 is required.
"on the 20e time frame if you were to invest into BTC over the next 20 years you would need to invest just $553 cents per month"
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To reach $2.8 million over 50 years with Bitcoin, monthly investment of $23.77 is required.
"as for the 50e time frame this would cost you you only $23.77 a month"
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