/finance/ - Finance

>>301 (OP) 
The answer is that it depends. 
>where you retire
>expenses expected through the year 
>lifestyle
>what age you will retire
>if there's any socialist programs to pad out income in retirement 
>if you need to support 3DPD or family
As for investments, what you need also depends. What you want your money invested in to build a retirement fund is (generally) different than what you want to be invested in when you are living off of it. The further away from retirement, if you have steady income, the riskier you can be.

>>302
>where you retire
Spic heritage living inna woods (i.e. "rural area") in the U.S. atm.  Currently have a house out in the middle of nowhere, but if financially viable, will relocate.
>expenses expected through the year 
Statistically speaking, I know at some point I'm going to take a huge monetary hit from having cancer.  I'm fine atm, I just know that statistically pretty much everyone eventually gets it.
>lifestyle
Play games, p. much.
>what age you will retire
I like the idea of FIRE, but...
>if there's any socialist programs to pad out income in retirement 
I don't trust that this is going to be around when I retire, or if I do, I'm convinced the coffers are going to be so broke and raided or inflated away as to be useless.
>if you need to support 3DPD or family
No.

silver.png
[Hide] (3.6MB, 1457x1446)

I suggest you read The Great Taking before thinking of investing in stonks and other related securities. At this point, if you don't physically hold it, you don't own it.

Define retirement. If you mean live comfortably on your stocks/bonds it's not possible unless you are preparing to retire in the next 10 years if you live in a first-world country. If you mean "only have to do housework like gardening and side-hustles" then it's less about money and more about revenues. 

Any retirement plan based on stored money instead of on assets is going to end in failure.

>>307
schizophrenic low iq retard

I finally came to grips with the fact that I'm getting older so I dialed back my stock holdings in the 401K.   Right now my mix is 70% large cap, 15% bonds 15% Real Estate. I was messing around with small caps and international funds but I needed to simplify and cut fees. 
I think being in the game and taking employer match is more important than the fund ratios for most people. Don't be 63 with nothing saved - it's scary to see how some people on this planet can't plan for the future.

>>360
Ok, well have fun with them stonks, I guess. XD

>>303
Anyone have any advice on estimating the nominal amount needed for retirement should be, as opposed to what the portfolio mix should be?

2001_gold.jpg
[Hide] (2MB, 3648x2736)

>>371
Nominal values of currencies aren't stable enough to make any such predictions. We don't even know how high the real rate inflation will be, over however many decades you have until retirement.
The only way to even approximate it is by units of real money, i.e. gold or silver. But the latter has been heavily manipulated via derivative contracts so current values are meaningless and will remain so until JPMorgan & Co. lose control.

if you have a family? 3 million.

single? 10 million.

>>377
O.k., I'll bite, why does a single person need so much more?

...nobody here can answer how much money you should save for retirement? Really? Isn't that a really, really basic and fundamental investment question?

>>421
I used to follow the programs, listen to the AM radio shows, and read the books. That all catered to the upper middle class and they all said what anon 377 said: 10 million USD (this was in year 2000 money). A lot has changed and even financial folks don't seem to list a dollar amount anymore. 

My broke butt will be lucky to have $100-$200K if I start saving now, hope social security is still around because I'm gonna need it.

>>421
The amount you spend per month times the number of months you plan to continue living.  The longer you expect live, the more you have to adjust for inflation, but again, nobody can predict when the world will shut down most of its economy for the lulz, which swings every variable in the equation.

Depends on the cost of living where you plan to stay, a bit less also on your standards but you don't need to adjust much there. I'd say 4 million. Because that's what will yield you a living wage by just putting it in safe-ish bonds and instruments from high-paying but still pretty stable nations/states that you can invest in. Public instruments. Most in this tier are even insured, so super low risk. Considering you won't have much time after retirement, with that amount you can still take a part for some random event if you don't go crazy and deal with most health decline problems until you get to the high-complexity stuff at which point probably no amount could save you.
With that amount I've also seen that it's enough to hand out and help your former dependents a decent bit every now and then, only if they're not dependents any more... i.e. Minor children/in college, some ungrateful bastard that still uses your credit card, you're married and divorce-rape is a permanent risk that you constantly pay out your ass to try and delay, etc.
Obviously that number is in value for right now, with time you have to adjust it, inflation and instability and shit...

>>424
>Bonds/safe investements = 5%
>5% - 3% inflation = 2%
>4 million x 2% = $80000
>$80000/yr is rough cost of living for family of four in most states
Is that the reasoning?

My own thought process has been the following:
>Social security/medicare won't exist for me when I'm older. This is based off of the Social security and medicare trusts' own reports.
>I'll probably get cancer at least once in my life. It will cost about $110k in current dollars to survive it if I wanted to. I want enough money to be able to at least have the option to survive it once if I want.
>I'll be forced to retire sooner or later. After uni, I failed to launch and became a nepohire. So, I view my current job as "I have to save as much as I can currently because I'm not going to be able to get a job when I lose this one." I think I have two years left before my nepocontact retires, at which point I'll be retired out soon.
As such, a lot of my thinking isn't "I have to work X more years until..." it's more along the lines of "If I lose my job tomorrow, here's what my current interest income is going to be stuck at, and here's where in the world I'll have to move to in order to survive." In two years time I'm kind of just hoping beyond hope that I'll somehow still have my current job, but I seriously doubt it.
Family creation doesn't even enter my frame of mind. A lot of that is just personal reasons, but even if that wasn't it, I just plain don't see how it's financially possible for me even if I was interested.