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Originally Posted by FUEGO
....Don't forget that the 70k portfolio withdrawal doesn't include taxes, so you may have to "gross up" the withdrawals to $75k or $80k to actually get $70k in cash to spend every year (YMMV based on your tax situation and carryover CG losses  ). |
Actually the $70k does include taxes.
Quote:
Originally Posted by FUEGO
You also have potential to contribute more $$ between now and 2011, and to (hopefully) have some portfolio growth between now and then.
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Good point. I'm thinking that if I could get the portfolio up to about $1.7M in the next 2-3 years, I'd be much more comfortable stopping work.
Quote:
Originally Posted by FUEGO
Did you estimate SS payouts based on taking them at age 62 and without any earned income between 2011 and 2028 when you start taking SS? The annual statements from SSA that we get tell you your expected payment at age 62 but it is based on a projection of earned income till age 62. You won't have anything from age 46-62 if you quit in 2011. Maybe a few thousand a year difference?
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I used the SS website to do the forecast -- and assumed no income from 2011 onward.
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