Souschef
Thinks s/he gets paid by the post
This was an interesting article about how much you need. YMMV
The average cost of retirement Is $738,400: Will you have enough?
The average cost of retirement Is $738,400: Will you have enough?
Now that this pithy question has been answered, how long is a piece of string?
I though Howie Long was a football commentator.
my current investment of $380k nets me $65k a year
The financial talking heads just can't get past wanting to find the holy grail of retirement planning: the magic number.
It always comes down to YMMV, but they seem to need the number. Midwest vs. Coastal living? Same number. Paid off home vs. mortgage free? Same number. Big spenders vs. frugal savers? Same number. Receiving SS vs. not receiving SS? Same number. Living in an RV vs. living in the kids basement vs. living in an upscale home? Same number. Geeeze!
Merrill Lynch study says you need $738.4K on average to retire
I don't intend to be average.
Me either......average is waay beyond my reach.
To get 65k out of 380k one would have to take a lot of risk. How is that sustainable over the long term? One year like 2008 and what would your 380k be down to? My guess would be your 380k would be dust and so would your 65K. I smell a troll.You don't need a million bucks to retire, you need income, I retired on a net worth of $280k. I did inherit another 200k after I retired, my current investment of $380k nets me $65k a year
Me either......average is waay beyond my reach.
That could be low T. You might want to see your doctor.
Or take up Yoga.
IMHO, there are better sources of retirement info than ML. Not that they are bad, I just think that there are better, less biased sources.
OTOH, a good annuity is better than taking all sorts of medicines to sleep well at night.