Trumpcardz
Confused about dryer sheets
- Joined
- Jul 7, 2017
- Messages
- 7
Please tell me why CFP are saying OP can't afford to retire?
I just read answers give by 3 CFPs on another website to an early retirement question. The OP, at age 40 asked if he could retire in 10 years at age 50 and the CFPs all said no!!!
OP has investments of $2.2 million in non-retirement accounts (75 equities, 20% bonds, 5% percent cash). OP has paid for home valued at $400k. OP has $60k cash in bank saving account. No mention of 401k retirement or pension. OP didn't mention healthcare coverage.
OP desires to have an income of $70k at age 50 when he wants to retire.
This equals a little less than 3.25% withdrawal rate. I don't understand why the CFPs are saying he cant afford to retire.
What am I not understand about CFPs saying NO? Am I missing something here?
I just read answers give by 3 CFPs on another website to an early retirement question. The OP, at age 40 asked if he could retire in 10 years at age 50 and the CFPs all said no!!!
OP has investments of $2.2 million in non-retirement accounts (75 equities, 20% bonds, 5% percent cash). OP has paid for home valued at $400k. OP has $60k cash in bank saving account. No mention of 401k retirement or pension. OP didn't mention healthcare coverage.
OP desires to have an income of $70k at age 50 when he wants to retire.
This equals a little less than 3.25% withdrawal rate. I don't understand why the CFPs are saying he cant afford to retire.
What am I not understand about CFPs saying NO? Am I missing something here?