Thank you for the replies... looking for general $$$, know factors vary -- WestyHokie 03/18/2021 11:57AM 4% rule and ~70% current income are fair start points ** -- ColoVT82 03/18/2021 12:24PMInsert a Link
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Lounge Question: How much $$ is enough to retire (early), in your opinion? -- WestyHokie 03/18/2021 09:57AM Thank you for the replies... looking for general $$$, know factors vary -- WestyHokie 03/18/2021 11:57AM 4% rule and ~70% current income are fair start points ** -- ColoVT82 03/18/2021 12:24PM Another thought is how $ is structured... I have been adding div stocks -- turkeywinghokie 03/18/2021 11:37AM Net worth? Id recommend deriving that from how much you need/month. -- ColoVT82 03/18/2021 10:40AM Personally, I wouldn't use net worth at all. -- Tafkam Hokie 03/18/2021 11:25AM I agree. Just repeating back his q...then answered in rules of thumb ** -- ColoVT82 03/18/2021 12:22PM He makes a good point a lot of people forget about, you want to live on -- VTNuke 03/18/2021 10:49AM Living in a van is all the rage right now. ** -- HokieNoVA 03/18/2021 11:08AM It depends on how your money is structured as well -- VTNuke 03/18/2021 10:32AM SS at 62? Will get a lot more if you wait ** -- statmanfromHCyrs 03/18/2021 10:22AM My "Plan A" is to retire at 62 -- Hokie Fiji 03/18/2021 11:39AM As 90 says, if it's there. Currently fully funded through 2034 -- Burke Hokie 03/18/2021 10:52AM Burke...I probably have less wisdom (smarts) than anyone on the board -- HokiesBill48 03/18/2021 12:12PM +1 for use of "vacillate" ** -- MP4VT2004 03/18/2021 11:29AM I think it will be there in some form for some people ... -- vt90 03/18/2021 10:55AM If nothing else, think of it this way -- Tafkam Hokie 03/18/2021 12:39PM ^This^ Big time -- Hokerer 03/18/2021 11:38AM Let's look at that situation. -- VTNuke 03/18/2021 10:43AM Believe your SS draw at 62 is limited by your income -- LaneRat 03/19/2021 08:59AM I'm 62. Are you suggesting I should be drawing SS now? I plan to work -- Brown Water 03/18/2021 11:05AM Wait as long as you can to draw. ** -- GreenvilleVT 03/18/2021 11:52AM I would. Especially if you're still working. Invest that money & it will -- VTNuke 03/18/2021 11:11AM Taxes is the main wildcard ** -- turkeywinghokie 03/18/2021 11:28AM Thanks Nuke ** -- Brown Water 03/18/2021 11:13AM Full retirement is 67 for anyone born after 1960 ** -- statmanfromHCyrs 03/18/2021 10:50AM Even at age 67, it would still be 9 years, or age 76 before it's a bad call ** -- VTNuke 03/18/2021 10:53AM And what if you live to 95? ** -- statmanfromHCyrs 03/18/2021 10:54AM You will most likely be in a home and the government will seize -- HortHokie 03/18/2021 11:01AM No way....I'll be playing in the 75+ division in rball tournaments still -- statmanfromHCyrs 03/18/2021 11:04AM I will have new hips & knees by then so it will be doubles only. ** -- HortHokie 03/18/2021 11:05AM If someone is worried about $300 a month when they're 95 compared to what -- VTNuke 03/18/2021 11:00AM Kind of what I figured, take it somewhat early because at some point -- HortHokie 03/18/2021 10:49AM I am hoping to retire at 58 or 59 and aiming for $3.5M. -- vt90 03/18/2021 10:17AM Re: I am hoping to retire at 58 or 59 and aiming for $3.5M. -- statmanfromHCyrs 03/18/2021 12:32PM I'm 53 and this is where I'm at now, but worried about health care costs -- FfxStationHokie 03/18/2021 10:58AM What rate of return are you expecting from that nest egg? ** -- Tank 03/18/2021 10:51AM Hoping for 5-6% but trying to save enough to be ok if it is less than that. ** -- vt90 03/18/2021 10:56AM Yeah, I'm using 7% before retirement and 5% after. This may be -- Tank 03/18/2021 11:01AM Wow, seems like a lot. I'm hoping to have SS, plus pension, plus a few -- HortHokie 03/18/2021 10:26AM I'd like to meet your wife ** -- Brown Water 03/18/2021 10:46AM She really doesn't share $ well, she claims she will when her -- HortHokie 03/18/2021 10:57AM I think you burried the lead on the finances....$20 million is a lot ** -- VTNuke 03/18/2021 11:02AM I have no pension so it is 401k plus SS (if that still exists) and if I ... -- vt90 03/18/2021 10:35AM I use to worry about the inheriting money until my Dad pointed out his Mom -- VTNuke 03/18/2021 11:04AM Kinda like Prince Charles' chances of being king -- statmanfromHCyrs 03/18/2021 11:46AM Any kind of pension plan? -- HortHokie 03/18/2021 10:14AM Yes but prob will lump sum ** -- WestyHokie 03/18/2021 11:54AM Social Security should cover me nicely, thank you very much ** -- JoesterVT 03/18/2021 10:12AM Nothing will eat up your wealth like an unexpected health crisis ** -- BayHokie 03/18/2021 10:12AM Without Mrs Vippie? -- Vippie1 03/18/2021 10:09AM LOL. Truth. ** -- reestuart 03/18/2021 10:52AM Enough to live on the interest and dividends. -- Hokie CPA 03/18/2021 10:06AM About tree-fiddy. ** -- hoosnowahokie 03/18/2021 10:02AM I'm 40 and would need about 2.5 M to retire at 59.5 -- typed by ben 03/18/2021 10:00AM And you’re a Man!! ** -- TexasGobbler 03/18/2021 10:05AM Dang forgot that part ** -- typed by ben 03/18/2021 10:07AM $2M ** -- OXVT 03/18/2021 09:59AM With 2 large you can take out $5K a month for a long time. With SS you -- UTPr0sim 03/18/2021 10:04AMTech Sideline is Presented By:
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