My day for humility.
There seem to be more comments here lately, that include the comment:
Net Worth = ? X Expenses... as in "NW is 8 times or 45 times expenses".
Some (probably dumb) questions:
Is this a well recognized ER formula for safety in retirement income?
Does it have to do with the number of years before SS retirement income?
How does one actualize SS income to net worth?
For early retirees, how to count pensions or annuities that begin at a later date?
Does Net Worth include the house?
It's hard for me to understand numbers, when net worth doesn't count 25K/yr in SS, 30/yr in pensions, and a house that's valued at $300K.
After a year of being here, these questions still confuse me, although seemingly, everyone else seems to understand. Almost all discussions of this end up referencing FIRECALC.
Please be gentle.
There seem to be more comments here lately, that include the comment:
Net Worth = ? X Expenses... as in "NW is 8 times or 45 times expenses".
Some (probably dumb) questions:
Is this a well recognized ER formula for safety in retirement income?
Does it have to do with the number of years before SS retirement income?
How does one actualize SS income to net worth?
For early retirees, how to count pensions or annuities that begin at a later date?
Does Net Worth include the house?
It's hard for me to understand numbers, when net worth doesn't count 25K/yr in SS, 30/yr in pensions, and a house that's valued at $300K.
After a year of being here, these questions still confuse me, although seemingly, everyone else seems to understand. Almost all discussions of this end up referencing FIRECALC.
Please be gentle.