How much money should you have if you want to retire in 2050?

I am 22 now and am curious how much money I should plan in investing in retirement. Should I consider planning on a 4% average inflation rate? I plan to have $42,000 invested in a 457 account by 2012.

How much money should you have if you want to retire in 2050?
You are wise to begin planning for your retirement at 22 years old. There are quite a few retirement calculators out there on the web. Rather than my asking you personal questions about income and marital status; some links are attached for your perusal.
Reply:This question is dependent on what level of retirement you want to live on.





A 4% inflation rate is somewhat higher than normal historical rates of 3%, but with the way prices are rising now, it might not be a bad start.





If you have 42K in a 457 by age 26, you are way ahead of the curve. I would just stuff it to the maximum allowed and that you feel comfortable with. I don't have a retirement calculator, (search the net for that) but if you can average out the return to 10-12% annually, I believe you should have enough to retire on. Even without social security.





I would guess to have an equivalent current income of 50K, you might need 1.75 to 2 million in the bank. This is a rough estimate.
Reply:Im not sure, but this is a good website to do a RSI score. Try it out hope it works.