How Much Money Is Enough? For Retirement, For One Person


This has been the most asked question, by people living a basic life. Answering this question, relies on the context on where it has been applied to.

The following are where the above question could be applied to:

  1. A Retiree preparing for life after retirement
  2. A student seeking to know how much needed for school
  3. Someone preparing for something.


There are several other contexts where the question can be applied to, however, in this article, I will be explaining how much is needed from a general perspective.

The methods and strategy discussed in this article, will work just fine with any other context, unless, with a slight modification.

It is super important to know how much money is needed, by considering certain factors that will need to be carefully examined by you, in order to get the right answer to the above question.


Some or the factors that need greatest attention are:

  1. Your present location.
  2. The rate of inflation presently.
  3. How often you make expenses.
  4. The number of expenses you make periodically.
  5. The urgency of what you intend to use money for.


These factors can be dynamic, in respect to context.

Without wasting much time, let’s dive on knowing how much is enough.


How Much Money Is Enough?


Literally, Money can’t be enough, and as well can be enough, what I Meant by that phrase is, the amount of money needed for person A, might be quite insufficient, for the Person B.

Therefore, the amount of money needed depends on who you are or what you intend using the money for. 


If you plan on retiring, then you definitely need to consider having much money before retiring from services, so you won’t run out of cash after retiring.

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If you remember, in the beginning of this article, I mentioned how applicable this question can be for different situations.

Therefore, let’s look at common occurrences one after the other;


How Much Money Is Enough for Retirement


How Much Money Is Enough for Retirement


This is one of the most bothered questions to every person retiring, so why does this happen? Because, the amount you will be receiving monthly after you have retired can’t be compared to the amount you are receiving while you were working.

Therefore, it is very important to make strategic planning, in order to get sufficient money.

What you are going to make reflections on, will be based on examining your expenses, family expenses such as utility bills, rent, food, and so on, you know them yourself.

Once you are able to identify all expenses you make, periodically, then you can easily deliberately know how much will be needed to keep your family up and going.

Sometimes, it might require making an investment, so that you will have a consistent flow of money, so in case of emergency, you won’t be running helta scatter to sort things out.


Note: before you can accurately get how much money will be sufficient, you must examine all the expenses you make consistently.

Also, you must be as dynamic, in terms of inflation and deflation of market prices.


How Much Money Is Needed for A Student?


Students also have expenses, school fees, rent, food, educational resources, and the likes.

If you are a student, then you also need to make a list of all expenses you make. Through that, you will be able to know how much you will be needing, for a successful schooling.


How Much Money Is Enough for A Person?


How Much Money Is Enough for A Person


For a single person, you certainly won’t spend much compared to a family, therefore, the amount of Money needed to be enough for a person, will be quite lesser than the money enough for a family.

Therefore, the amount that will be enough for a person will range from about $45k to 60k. Depending on the spending size of the person.


How Much Money Is Enough for A Comfortable Life?


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Money is happiness, you garrit? Being poor will never make you happy, one way or the other you will certainly find yourself sad, probably when you are unable to foot family bills.

Therefore, it is very important to give more consideration on getting sufficient money, through that, you will be able to acquire financial security, which is literally the goal of every family out there.

The question then relies on how much is needed for a comfortable life? Well the answer depends on the spending size of the family of the person.

But on a general rule of thumb, to live a comfortable life, then $80 -100k will do way good for such.

However, the amount is bound to be too much and too little. It all depends on the spending size.


How Much Money Is Enough to Make You Happy?


Being Happy is the goal, not to be sad. Aside from other things that can make you happy, having money still happens to remain at the top. This is because, when there is money, you can even buy the world.

But when there is no money you will certainly won’t be able to pay for family bills, and likely end up having a sad time, and too reflective.

Money also is capable of changing the human state of behavior, therefore, if you are looking to be happy, then you certainly need to consider about $70k – $100k to be happy.

Although, this isn’t a guarantee that you will end up happy, what if the spending is higher than such an amount.


How Much Is Enough to Survive an Emergency


Emergencies are quite inevitable, as long as you leave on this earth, you will certainly encounter one emergency or the other. 

Therefore, the question you might be asking, will be based on how much money will you need to combat an emergency.

Emergency can come at any time, therefore, It will be a thoughtful idea to have a savings for emergencies, so that when it occurs, you won’t be looking for someone to lend you money, or give you money.

Although, while it is necessary to keep some amount for emergencies, the amount you will be needing in future for emergencies, still remains unpredictable. Why? Because you are still yet to know the magnitude of the cost of emergency.

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For some emergencies, the money might be sufficient, while for others, the money may seem too insufficient, therefore, it is also advisable to be ready for emergencies, by not having a fixed amount to save for emergencies.

However, on a general rule of thumb, you will need about $400 – $700 for emergency occurrences.



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There isn’t any fixed amount of money needed, because, expenditure size differs across every being, therefore, the amount of money needed for you, might be insufficient for me.

But however, even though everyone may have different expenses, there are still ways you could easily know how much money will be enough for you, that is, by identifying your expenses.

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