The right retirement formula is based on the value of your home, says dailydirtnap
The first page gives you a wide range of numbers, mostly between $1 million and $2 million. Of course, most people retire with less than that. They make it work.One of my longtime readers, Neile Wolfe, of Wells Fargo Advisors in Austin, Texas, has an elegant solution to the problem. Neile is a fellow divergent thinker and is, hands down, the most thoughtful adviser I have ever met. Look him up.Here’s the idea 1. Take the market value of your house, and multiply by 0.3.
First of all, $1.4 million houses are expensive to maintain. It will cost you, on average, 1%-2% every year. 0% some years, and 5%-6% other years. But that is the least of your problems. All of this stuff adds up. Your lifestyle, and all the money you spend, comes from the house that you live in, and the zip code that it sits in.
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