How much money do you need to retire in Lake Chapala, Mexico? If you’re earning Social Security benefits, the payments would likely be more than enough.
But for my expatriate friends….assuming you earned just $500 per month (2015 equivalent) from Social Security and you sold 4% of a stock and bond market portfolio each year, here are some estimated investment portfolio sizes required, assuming inflation averages 3.5%:
If retiring in 2015, you would need $390,000. Those retiring in 2020 would need $463,197.
If retiring in 2025, you would shoot for at least $550,133. And those seeking retirement in 2030 would need about $653,386.
It’s always better to shoot for more, of course. But aren’t these figures a lot lower than you thought?
Forgive me for linking to the same article twice. But you can check out my article on Lake Chapala, for a few specifics on costs.
Image courtesy of pixabay.com
