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Anonymous

14 Nov 2020

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How much do you need to save monthly to earn $50,000 a year in just interest for retirement?

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Caleb Seah Hua Xiang

14 Nov 2020

It depends on how much you earn and how long you desire to save it for.

Let's assume a 2% interest of 50,000.

Means you need at least 2.5mil

Means that if you going to take 30 years to save and invest it into S&P500 at 9% growth rates a year.

You're going to need to save 18k per year.

Play around with this calculator and decide how much you going to save.

All the best.

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