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Do You want to Live on Macaroni and Cheese when You Retire or Filet Mignon?

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How Much Money Will I Need to Earn to Retire?

This is the most common concern of people who are contemplating retirement. While most financial planners would tell you that you need to earn as much in retirement as you did while you were working, this isn't always the case. Much of this depends on your lifestyle.

If you own your house and it is debt-free, you often need less income than a retiree who is renting.

If you want to travel and see the world, you will need more income.

If you do not plan on leading a very active social life in retirement, often you will need less income.

If you want to set up education trusts for your grandchildren, you will need more income.

If you are flexible enough to consider living in Mexico, you will need less income.

If you plan on working part-time or run a business after you retire, you will need less income.

By the way, I have never met a retiree yet who has told me that they had too much money when they retired!

The big trade-off for saving for retirement is that often you are giving up quality of life now to insure quality of life in the future. I know some people who are so obsessed with saving for the future that they are not really enjoying life in the now moment. On the other hand, I know many more people who are not preparing at all for the future and they may not be living very well at all when they retire.

Excerpted from Transform YOUR Relationship with Money: A Step-by-Step Guide for Financial Empowerment. For more information about this guide, please check out my web site located at

Bill Austin is a spiritual healer and teacher based in St Petersburg FL. He has assisted hundreds of people around the world in gaining the clarity they need to realize more of their full potential. To find out more about his healing practice, please check out his web site at

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