accountingsucks
Recycles dryer sheets
- Joined
- Jan 28, 2006
- Messages
- 346
Just curious if anyone has successfully FIRE'd on less than $1Million and DID NOT have a defined benefit pension plan from their employer.
You would need to define the "E" in FIRE ("early"), the perimeter of the portfolio (includes paid-off house?), and of course the word "successfully". And while you're at it, how much less than $1 million.Just curious if anyone has successfully FIRE'd on less than $1Million and DID NOT have a defined benefit pension plan from their employer.
Just curious if anyone has successfully FIRE'd on less than $1Million and DID NOT have a defined benefit pension plan from their employer.
You would need to define the "E" in FIRE ("early"), the perimeter of the portfolio (includes paid-off house?), and of course the word "successfully". And while you're at it, how much less than $1 million.
FireCalc shows that with $750K in the bank now and $10K/year SS kicking in in 2022 allows you to withdraw $35K/year with a 90% success rate. Could be enough for a single 50-year-old in a modest rental appartment, but it might not be enough to hook in the next Anna Nicole Smith to keep you warm in your 80s.
You could see if the check to the funeral home bounced.To find someone who "successfully FIRE'd", they must be dead, right? Otherwise, who knows if they run out of money before they die...
Our goal is $3M even though our projected expenses are in the $60K range.
To find someone who "successfully FIRE'd", they must be dead, right? Otherwise, who knows if they run out of money before they die...
Well then....guess I'm gold....no Anna for me.You would need to define the "E" in FIRE ("early"), the perimeter of the portfolio (includes paid-off house?), and of course the word "successfully". And while you're at it, how much less than $1 million.
FireCalc shows that with $750K in the bank now and $10K/year SS kicking in in 2022 allows you to withdraw $35K/year with a 90% success rate. Could be enough for a single 50-year-old in a modest rental appartment, but it might not be enough to hook in the next Anna Nicole Smith to keep you warm in your 80s.
How is everyone handling health insurance?
Contributory group company from mega-corp. I retired from at age 59.How is everyone handling health insurance?
Free/cheap obamacare coupled with a low taxable income (to make it free/cheap).
It's a part of our Megacorp benefits.How is everyone handling health insurance?
Free/cheap obamacare coupled with a low taxable income (to make it free/cheap).
Talking about health care subsidies, it looks like you would have to make less than 400% of the poverty level to qualify. For a couple, that would be roughly $50K / per year. Our planned retirement income would be just above that although, in bad market years, we may qualify. That could help soften the blow.
I found this nifty simulator yesterday that shows what impact Obamacare could have based on income:
Health Reform Subsidy Calculator
Medicaid is managed state by state. In ours, you can't have more then $2k in assets.Is there no asset test for Medicaid?