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This question comes from Thomas in Colorado. He says, I'm struggling to know how much we actually need to retire.

I'm 54 and currently have $1.4 million in a 401k, which sounds like a lot to me, but I don't actually know how fast will burn through that.

What's the best way to know how much I'll actually need? So I'm thinking about your, the goal,

you don't want to burn through your nest egg, right? You want to have it invested in such a way

that you're able to live off of the interest and not really touch

the nest egg is what I would say. So that would be my first thought is I would use a calculator

and kind of run this back and go, okay, what is what's the income that I think I'm going to need

and get that number? And then, okay, what does the draw off of my interest need to be?

What does my nest egg need to be so that my draw can equal that?

So I'm kind of reverse engineering it in that way.

And then there's also the part of this, you know, you're 54.

I'm thinking, okay, you've got $1.4 million now.

There's a good chance that in seven years it could double, and that ain't bad.

Yeah. If you've got to invest it at 10% or better, it doubles every seven years.

Yeah, 10% or better. So at 61, if you're invested in good mutual funds, you're going to have

2.8. And at 68, you know, you're going to have $5.5 million.

Now, there is inflation to play into that.

No, I'm just talking about, I'm not talking about inflation.

Just actual dollars. I'm just saying that if you're making 10%, it doubles every seven years.

A lump sum does.

That's if you're adding nothing to it.

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