• yenahmik@lemmy.worldM
    link
    fedilink
    arrow-up
    2
    ·
    3 months ago

    Lol just asked it how much I should have saved now if I want to retire at 40. I don’t think you should take AI’s advice when it comes to retirement…

    Here’s a rough estimate to get you started: if you plan to retire at 40 and spend $30,000 per year, you’ll need to save around $180,000 by then. This is simply your annual spending multiplied by the number of years until retirement. However, this is a simplified calculation and doesn’t take into account factors like inflation, investment returns, or your desired retirement lifestyle. To get a more accurate idea of how much you need to save, you can use a retirement calculator or consult with a financial advisor.