The magic number for retirement

Its a common topic. The question: “What is that magic $$$ number needed in order to retire?” There are many models (we provided an example earlier) to figure this with each one being restrictive in its application, ours included. A retirement plan needs to provide a solution unique to each individual. This is the FPO concept.

First, there isn’t a magic age that one can or should retire. It could be anywhere from the mid 30’s to the mid 70’s. Also, is retirement defined by the point of where you completely quit the workforce or just go to part time? Is part time 20 hours or 30 hours a week? Due to this ambiguity, it is recommended not to think in the term retirement because it puts too much definition on goals. The principle of “work whenever, fish forever” is sufficient. It’s simply going from where you are to where you want to go.

About Steve @ FPO
Hello FPO readers, I have been writing on financial topics for about 12 years now, but I have only recently reignited the fire of publishing online. I have to say, its good to be back. I am an electrical engineer by trade who enjoys all topics engineering and financial. I started Financial Place Online (FPO) to create a value added financial news and education website that would provide a refreshing daily financial read. Financial Place Online websites are built around the principles of consumer empowerment, leveling the playing field, zero spam tolerance, and none of those annoying sidebar or banner ads. For us, it's all about enjoying a good read.

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