Quote:
Originally Posted by lewdog
Along the same thought lines here. I’d say 60x your annual gross income because remember at a young age you’ll be living off “income” that’s all taxed as you can’t tap things like a ROTH yet.
On the same note for people retiring early, do what you can to make earned income in the year to max your ROTH. Just $6k or $7k if over 50. This will allow you to draw on something not taxable once you hit the right age. Is a great way to drop tax brackets when you’re older.
|
Can you do that if you aren't traditionally employed? (The ROTH thing)