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re: .
Posted on 4/2/25 at 1:15 pm to RoyalWe
Posted on 4/2/25 at 1:15 pm to RoyalWe
quote:
If you have the means, why would you go into complete "defense" and not take additional risk with a portion of your investments if you have enough cash to weather a 10 year downturned market?
Yes, why I don't understand the defensive strategy at all. It's the future and you never know. If you have 5 million your options are endless, but even a 3 million you could still structure with a few options. If you are dealing with less than 2 million that would be much harder to do. My plan (we will see) is to take a higher portion of my offensive plays and much less of my defensive plays and then have enough cash on hand to hold me between the gaps. If you are lucky enough to retire in an up cycle and have a couple of years to get ahead, you would be really in good shape no matter what happened. Well, if it gets really bad, you would still be better off than probably 95% of the population.
This post was edited on 4/2/25 at 1:16 pm
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Posted on 4/2/25 at 3:47 pm to VMO7
Estimate your anticipated annual living expenses in retirement. Add 20%. This is X.
Estimate your annual SS benefit as a household. This is Y
X-Y*20, 25 if you want to be extra safe.
Estimate your annual SS benefit as a household. This is Y
X-Y*20, 25 if you want to be extra safe.
Posted on 4/2/25 at 5:44 pm to VMO7
quote:
Do financial planners exaggerate to an alarming extent the amount of money needed to retire? And don’t they have an incentive to do so?
I think they probably exaggerate the risks, to an extent, to try to keep their clients interested. Keep in mind, the average poster on this board is probably way more financially competent than their typical client.
This post was edited on 4/2/25 at 5:55 pm
Posted on 4/2/25 at 7:53 pm to beaverfever
quote:
6 million.
Comical, Ill do it with half that, live in lower cost of living country and be done with work by 50.
Posted on 4/2/25 at 10:47 pm to VMO7
I’m thinking $1.5 million in 401k. When you retire that should be in pretty conservative offering where you are making about 4% guaranteed….
That’s $60k a year.. say $50k accounting for taxes…
That’s $4,100 per month, plus $2400 soc security.
$6500/mth
Wife will have small pension from school- let’s just say it covers medical insurance and that’s it.
I figure ill have about $200k cash ($150k guaranteed when my mom passes- she’s 65 and I got about 23 years left before retirement- hopefully she’ll hang on longer but I’m a realist)
So $6500 mth after health care and paid off house. Cash for emergencies .
The cash will generate $6kish interest- that’s a good vacation every year.
I think that’ll be ok
That’s $60k a year.. say $50k accounting for taxes…
That’s $4,100 per month, plus $2400 soc security.
$6500/mth
Wife will have small pension from school- let’s just say it covers medical insurance and that’s it.
I figure ill have about $200k cash ($150k guaranteed when my mom passes- she’s 65 and I got about 23 years left before retirement- hopefully she’ll hang on longer but I’m a realist)
So $6500 mth after health care and paid off house. Cash for emergencies .
The cash will generate $6kish interest- that’s a good vacation every year.
I think that’ll be ok
Posted on 4/2/25 at 10:52 pm to VMO7
About $20k per month in 25 years haha
This post was edited on 4/2/25 at 10:53 pm
Posted on 4/2/25 at 10:57 pm to SloaneRanger
quote:
Uh, you won’t be destitute with $6 million
I was joking and it’s strange a few people didn’t realize it
$6M is easily enough imo, especially if your house is paid off
Posted on 4/3/25 at 9:29 am to VMO7
Whatever you have won’t be enough.
Posted on 4/3/25 at 9:42 am to thunderbird1100
Thanks for that link. I ran it with two or three different scenarios and barring an absolute market disaster, I should be ok if nothing screws up in the next three years. I have a 100% success rate of getting to 85 with money left over in the worst case, or in the 50% case my capital completely whole plus. That was with 2k per month more than my projections, to have for travel, leisure or big expenses that may arise over the years.
Posted on 4/3/25 at 2:41 pm to CharlesUFarley
quote:
Keep in mind, the average poster on this board is probably way more financially competent than their typical client.
Lol, that’s a good one
Posted on 4/3/25 at 4:05 pm to VABuckeye
That’s what I’m saying.
5% of 1000000 is 50k
3 mill = 150k
Planning to have no notes at that time should put you more than comfortable.
However, many people live a lot higher on the hog than I.
5% of 1000000 is 50k
3 mill = 150k
Planning to have no notes at that time should put you more than comfortable.
However, many people live a lot higher on the hog than I.
Posted on 4/3/25 at 5:08 pm to xBirdx
quote:
That’s $60k a year.. say $50k accounting for taxes…
Do your research. Depending on what state you retire to your tax obligation is quite a bit less based on the numbers you provided.
Posted on 4/3/25 at 9:52 pm to VABuckeye
Even better!
Was being a bit conservative …
Was being a bit conservative …
Posted on 4/4/25 at 8:33 am to beaverfever
quote:
Yeah most say 10 million but everyone knows you can get by with 6 million.
That's a joke, right?
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