So am a 52 year old, with a federal job. The thrift savings plan is sort of a 457k plan that government employees are offered, and I have much more than most, which is not saying much.
Given a goal of only $30,000 a year; and my pension might get me $12,000 a year in three years. What do I do to make the other $18,000 a year with investment income?
Some are saying to plan for 5% a year interest; so that would mean I would need $360,000 in the bank to earn 5% off of forever. But that is risky because some years many are hurting to make even 2%.
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yes I realize that when I hit 65 I will get maybe $20k a year in social security, or maybe some means tested reduction to $10k per year because SS blew a gasket (is failing).
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yes I know that many predict there will be mass starvation of seniors if you expect to live on $30,000 a year but I guess I do not see that.
Given a goal of only $30,000 a year; and my pension might get me $12,000 a year in three years. What do I do to make the other $18,000 a year with investment income?
Some are saying to plan for 5% a year interest; so that would mean I would need $360,000 in the bank to earn 5% off of forever. But that is risky because some years many are hurting to make even 2%.
***
yes I realize that when I hit 65 I will get maybe $20k a year in social security, or maybe some means tested reduction to $10k per year because SS blew a gasket (is failing).
***
yes I know that many predict there will be mass starvation of seniors if you expect to live on $30,000 a year but I guess I do not see that.