Hi folks.
I sometimes view my possible financial situation in retirement as levels, such as this:
Running firecalc provides a wide range of outcomes, number 4 being a distinct possibility. My wife an I are not the kind of people that will live extravagantly in retirement, regardless of how much money we have. We just aren't the yacht and $3M house type of people.
If we're fortunate enough to reach number 4, I dream of leaving a trust/foundation behind that could be self-perpetuating that does good deeds, such as donating to causes that we care about.
Anybody else have such fantasies? Has anybody here taken steps to make such a dream a reality?
Thanks.
I sometimes view my possible financial situation in retirement as levels, such as this:
- savings run out before death
- savings last until death, but not much left over
- at death there is a tidy sum (ie. $500K - $2M) left over that could make life easier for your heirs
- at death this is a large amount left; more than heirs would need
Running firecalc provides a wide range of outcomes, number 4 being a distinct possibility. My wife an I are not the kind of people that will live extravagantly in retirement, regardless of how much money we have. We just aren't the yacht and $3M house type of people.
If we're fortunate enough to reach number 4, I dream of leaving a trust/foundation behind that could be self-perpetuating that does good deeds, such as donating to causes that we care about.
Anybody else have such fantasies? Has anybody here taken steps to make such a dream a reality?
Thanks.