So you need 650k to retired in Ireland and live comfortably? How is that figure arrived at, does that include your accommodation that is probably paid for pre-retirement
Define comfortable. I’d be comfortable without a car as long as there’s a few pubs and shops within walking distance, and access to public transport.
Figures seem mad and arbitrary.
They’re obviously linked at a conversion factor from some other data metric. “Age of retirement” V “cost per year to live” or something.
There’s no way that state welfare payments, state provided health care or relative property costs have been taken into account for each country before they got the “amount needed”.
i feel like 458K in ethiopia would go a lot farther than 657K here
Sometimes I look at a graphic and write it off as nonsense, this is one of those times. Nearly half a million to retire in Ethiopia?
If it was the cost of living multiplied by the result of life expectancy minus age of retirement, that would be a interesting graphic. This is junk, not going to bother with even looking it up.
As an American, this seems pretty low to me.
Even in the cheaper parts of the US, this is low.
Let’s give some assumptions:
You retire at 65.
You own your home so you only pay for repairs and taxes.
If you’re a man, your life expectancy is 75.
Can you live for 10 years on $60,000 a year?
Yeah, maybe.
But half of all men live over 75.
If you make it to 80, can you live in $40,000 a year? With increasing medical expenses due to your age?
I’m thinking no.
And again, all above examples assume you own your own home. Which many people do not.
Long story short: in most place in the US, $600,000 is not enough to retire on ‘comfortably.’
8 comments
So you need 650k to retired in Ireland and live comfortably? How is that figure arrived at, does that include your accommodation that is probably paid for pre-retirement
Define comfortable. I’d be comfortable without a car as long as there’s a few pubs and shops within walking distance, and access to public transport.
Figures seem mad and arbitrary.
They’re obviously linked at a conversion factor from some other data metric. “Age of retirement” V “cost per year to live” or something.
There’s no way that state welfare payments, state provided health care or relative property costs have been taken into account for each country before they got the “amount needed”.
i feel like 458K in ethiopia would go a lot farther than 657K here
[Good luck with eggs](https://www.nytimes.com/2021/12/13/world/asia/india-eggs-hindu-nationalism.html)
Sometimes I look at a graphic and write it off as nonsense, this is one of those times. Nearly half a million to retire in Ethiopia?
If it was the cost of living multiplied by the result of life expectancy minus age of retirement, that would be a interesting graphic. This is junk, not going to bother with even looking it up.
As an American, this seems pretty low to me.
Even in the cheaper parts of the US, this is low.
Let’s give some assumptions:
You retire at 65.
You own your home so you only pay for repairs and taxes.
If you’re a man, your life expectancy is 75.
Can you live for 10 years on $60,000 a year?
Yeah, maybe.
But half of all men live over 75.
If you make it to 80, can you live in $40,000 a year? With increasing medical expenses due to your age?
I’m thinking no.
And again, all above examples assume you own your own home. Which many people do not.
Long story short: in most place in the US, $600,000 is not enough to retire on ‘comfortably.’
Does Africa not exist?