Yusra3
Banned
You can definitely retire with 500k.
The first thing you have to do is make sure that you have enough money saved up to live off of for a few years. If you have no idea how much money that is going to be, then it's best not to try and retire with 500k just yet. You'll want to get your head around the numbers first by making sure that you're able to put away as much as possible each month.
Once you've done that, then you can start thinking about how much money you need in order to retire comfortably. If the answer is less than 500k, then there's no reason why you shouldn't be able to go ahead and retire with that amount of money. it might even be more than enough! The key here is knowing what kind of lifestyle changes are needed so that it's possible for someone like yourself to live on half their salary while saving half every month in order to reach your goal at some point down the line.
The first thing you have to do is make sure that you have enough money saved up to live off of for a few years. If you have no idea how much money that is going to be, then it's best not to try and retire with 500k just yet. You'll want to get your head around the numbers first by making sure that you're able to put away as much as possible each month.
Once you've done that, then you can start thinking about how much money you need in order to retire comfortably. If the answer is less than 500k, then there's no reason why you shouldn't be able to go ahead and retire with that amount of money. it might even be more than enough! The key here is knowing what kind of lifestyle changes are needed so that it's possible for someone like yourself to live on half their salary while saving half every month in order to reach your goal at some point down the line.
