Retired
- Thread starter 13BlackGT
- Start date
Congrats on reaching the finish line,.........now relax,........the best plan is NO PLAN !!
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Congrats!
I'm 53 now and hoping for next May to do the same.
As already mentioned, my 401K, Roths, and Individuals accounts will help make the decision, and we all know how things are now...
I'm 53 now and hoping for next May to do the same.
As already mentioned, my 401K, Roths, and Individuals accounts will help make the decision, and we all know how things are now...
Congrats man, just make sure you keep moving.
Congrats! Exactly how I want my retirement to look except it’s 30 years out haha
Congrats!
Congrats! 8 years for me to go, and then Government pension life for me
Congrats !! Enjoy your freedom !!
If potato head keeps going like he is, it might push me back a year. I was thinking about the first of the year.
Congrats 13BlackGT, enjoy every day of your retirement years.
Side question, when it comes to everyone's retirement planning... What's a consensus opinion as far as a good "nest egg" amount? I know this is a HIGHLY subjective number based on many factors, but without having a pension to rely upon, does everyone believe 1, 2, 5?? million is an amount to have working for ya with investments?
Let's assume a retirement age of 55. Opinions??
Side question, when it comes to everyone's retirement planning... What's a consensus opinion as far as a good "nest egg" amount? I know this is a HIGHLY subjective number based on many factors, but without having a pension to rely upon, does everyone believe 1, 2, 5?? million is an amount to have working for ya with investments?
Let's assume a retirement age of 55. Opinions??
NestEgg = (Expenses per year X number of years you want to be retiree)
Make a spreadsheet.
2 million should be enough for 20 years as long as you don’t have a mortgage and all that. You still get taxed on the money though so take that into account. I say as long as you can make roughly 100k a year you are good to go.
Don't underestimate your life span either. All my grandparents lived into their 90s.
Certainly a valid point, but the odds are against me making it to that age.
I think having an annual budget in retirement of $85k-$100k [+/-$10k as needed] is probably about the right number... Where my calcs are getting complicated comes from the retirement starting age (55), then adjusting for SS income commencing at 62y/o and how these factors affect longevity of any nest egg...
Is a starting figure of 1, 2 or more million the correct amount to carry into maybe mid-80's age? What kind of investment return needs to be achieved to make the whole thing sustainable?
I've heard many in retirement say it's not as expensive to live as you may think, but I'd hate to find out that's not the case for me.
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