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SVTPerformance's Chain of Restaurants
Road Side Pub
Q & A - Ask a financial advisor
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<blockquote data-quote="JPD5801" data-source="post: 15853047" data-attributes="member: 41298"><p>How do you define "comfy?" The rule of thumb has been that someone can withdraw about 3.5% of their portfolio for a period of 30 years without outliving their money. So, if you want to live on $35k in retirement, you would need a portfolio of $1,000,000 to support that. This doesn't include social security benefits. The average SS benefit is about $16k. </p><p></p><p> The rule of thumb on this one is 15 - 20%. This number includes contributions from all sources. If your employer contributes 3%, you would need to contribute 12% - 17%. </p><p></p><p> I'm sure there are specific funds people should avoid, but there aren't any I can name off the top of my head. I always tell folks to avoid mutual funds with high expense ratios. The reason is simple: The less someone pays to the fund company, the more they get to keep for themselves. Warren Buffett is a huge advocate of index funds, and I agree with him. </p><p></p><p> I am a huge believer in funds and ETFs. They provide for broad diversification at a lower cost than picking individual stocks or bonds. The all in one funds are great for people that don't want to "deal with it" on an ongoing basis. That said, I always tell people to log in and check on things a couple times a year.</p></blockquote><p></p>
[QUOTE="JPD5801, post: 15853047, member: 41298"] How do you define "comfy?" The rule of thumb has been that someone can withdraw about 3.5% of their portfolio for a period of 30 years without outliving their money. So, if you want to live on $35k in retirement, you would need a portfolio of $1,000,000 to support that. This doesn't include social security benefits. The average SS benefit is about $16k. The rule of thumb on this one is 15 - 20%. This number includes contributions from all sources. If your employer contributes 3%, you would need to contribute 12% - 17%. I'm sure there are specific funds people should avoid, but there aren't any I can name off the top of my head. I always tell folks to avoid mutual funds with high expense ratios. The reason is simple: The less someone pays to the fund company, the more they get to keep for themselves. Warren Buffett is a huge advocate of index funds, and I agree with him. I am a huge believer in funds and ETFs. They provide for broad diversification at a lower cost than picking individual stocks or bonds. The all in one funds are great for people that don't want to "deal with it" on an ongoing basis. That said, I always tell people to log in and check on things a couple times a year. [/QUOTE]
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Q & A - Ask a financial advisor
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