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yep , of the 7% you get 4% and 3% has to grow the nest egg by that amount so it stays with the house,.. that will give you 95% certainty of not outliving your money
yep , of the 7% you get 4% and 3% has to grow the nest egg by that amount so it stays with the house,.. that will give you 95% certainty of not outliving your money
WE as in a number of us posting in here need to remember that what we consider to be adequate for retirement is more than most working American families make. While we and investment firms might talk about 80K as a starting point many of our fellow Boomers are looking at much less as a beginning point and consider 80K to be rich and for a few.
its all based on everyones own savings, the 80k only came from the example someone brought up about the 2 million but the percentages stay the same no matter what the nest egg size
its all based on everyones own savings, the 80k only came from the example someone brought up about the 2 million but the percentages stay the same no matter what the nest egg size
I realize all of that and the article is where the 2 million came from. We just need to realize that we are talking number examples that are perhaps not typical. Thats all not the math just the sensitivity of the discussion. The principles you talk about are the same if the total was 1 million and a 3 or 4% draw down.
absolutely true what you say ,....... from some of the posts i have read we have quite a few successful people here pulling the plug at a nice young age... i just hope they did their homework as it always catches people by surprise when they find out they have to be able to pull 2x in the future what it cost them now to live . they look at what they have and go we can live on that and then learn its not nearly enough to last so long or they were so conservatively invested that they failed to grow their savings enough to last.
i recommend a good financial retirement calcultor like firecalc or fidelity's etc and play with your own numbers.
The annuity might be a guaranteed way to do it but they are taking their profit and management fees out first. While others may be big fans of annuities I am not in that crowd.
WE as in a number of us posting in here need to remember that what we consider to be adequate for retirement is more than most working American families make. While we and investment firms might talk about 80K as a starting point many of our fellow Boomers are looking at much less as a beginning point and consider 80K to be rich and for a few.
In this world for some of the posters on here living on SS or on a retirement under 50K etc etc etc. Not every area of the country has a medium family income in the 90K range etc etc etc. WE might not consider 80K rich but the family existing on a family income of 30K might. Especially in areas where you can buy a decent single family home for under 100K. Don't we even have threads developing for folks with very modest retirement incomes who are living successfully on them?
In this world for some of the posters on here living on SS or on a retirement under 50K etc etc etc. Not every area of the country has a medium family income in the 90K range etc etc etc. WE might not consider 80K rich but the family existing on a family income of 30K might. Especially in areas where you can buy a decent single family home for under 100K. Don't we even have threads developing for folks with very modest retirement incomes who are living successfully on them?
If you can live on that more power to you, one of the major reasons for the housing bubble in the sun belt was the premis that you would all be able to retire able to buy a house for $350,000 in one of their states. It wasn't meant as a shot at you just a comment on that assumption.
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