Major Tom
Thinks s/he gets paid by the post
My magic number was however much I had when I was laid off and realized I didn't feel like going back to work.
There is a term for that - accommodation.
Quite apparent here that most of us got to a "number" then decided to push the "number" a little more.As i'am presently doing this 1.5 going to 2, I keep reminding myself that the larger number does not equate with health. Just buried a co-worker 2 weeks ago who was 56.Want to make sure I clearly see that side of the equation as I balance net worth/ expenses/age/health
I think that many older members may find that their magic number is/was considerably less than an $880K portfolio (excluding real estate). This would be especially likely for those with a paid off house, no dependents, and living in low COL areas, who have reached SS age and/or have a small pension, and who do not regard expensive international travel as one of their core activities. I fall in that category.
Younger retirees may need more to bridge the gap to SS and/or pension and to last for more than 30 years.
There is no magic number.
I thought it was $5m but I got there and did not feel comfortable with that so now I think it must be $10m - but if I hit that, I doubt if I will feel comfortable with that.
Maybe I just like to worry.
Was or is or will be?