This conversation is about calculating backward from your expected lifespan. And it can only be estimated hypothetically. If you retire at 65 and live until 100, you’ll need enough money to support yourself for 35 years. Can you save enough by age 65, starting from your current age? That’s a frightening question… But I believe it’s an extremely important one. I’ve done the backward calculation for my own lifespan— from the age I’ll no longer be able to work, I’ve figured out: How much money I’ll need, How much I can realistically spend, And how much I can leave behind for my children. I’ve made rough estimates and manage my assets accordingly, living a simpler life. I feel that asset building truly reaches its purpose only when you get this far.
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