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re: Is $1 million a lot of money in 2019?
Posted on 6/23/19 at 7:52 pm to tirebiter
Posted on 6/23/19 at 7:52 pm to tirebiter
quote:that's all fine and dandy, but the MAIN thing matters in this specific topic is lifestyle in retirement. Saying you need 130k minimum as a banket statement is just not right.
For a couple without employer private insurance in retirement to bridge the gap to medicare I believe $3M+ in currently invested assets is a reasonable number, + a home with nominal current cost of ownership. I am not talking about a couple with combined sub-$100k pre-tax income. So, 2-couple household, I would want $130k minimum annual income from multiple sources at relatively low draw rates when pulling the plug, plus SSI and pension down the foreseeable line.
But yeah, I'd say unsubsidized health insurance premium is probably the one thing that scares me the most.
Posted on 6/24/19 at 7:09 am to castorinho
quote:
But yeah, I'd say unsubsidized health insurance premium is probably the one thing that scares me the most.
is the ACA still based solely off income?
i imagine you could get some cheap, subsidized plans if your "income" was low
Posted on 6/24/19 at 1:43 pm to castorinho
quote:
that's all fine and dandy, but the MAIN thing matters in this specific topic is lifestyle in retirement. Saying you need 130k minimum as a banket statement is just not right.
Isn't this the truth? I am reminded of my grandma, who was one of the happiest people I have ever known. She never worked outside the home & lived until 94, on my grandfather's small SS payout. Small house, long paid off. Happy life, with minimal possessions & no need to buy (like more shoes, more jewelry, more crap). Traveled some with her kids/grandkids (nothing exotic, mostly to visit various relatives). She probably never had more than $10K liquid during her near-century of existence.
A million is still an incredible amount of money to most people in the world.
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