|
I would figure that one could probably pull out 4-6% per year and never run out. 5% of 1M is $50K...before taxes. So, $2M would give me about $100K minus taxes, healthcare, etc... As long as we can avoid protected high inflation...that would work for many with a paid off home (unless their property taxes/insurance/upkeep are not very high).
If they want, they can walk defined retirement backwards. If it pays them 50K per year, it is worth about $1M. If $20K, then it is worth about $400K. So, if you get a defined retirement of $50K and have about $2M in a 401K, you can figure your are with about $3M plus other assets like home, cash, car.
__________________
74 Targa 3.0, 89 Carrera, 04 Cayenne Turbo
http://www.pelicanparts.com/gallery/fintstone/
"The problem with socialism is that you eventually run out of other people's money"
Some are born free. Some have freedom thrust upon them. Others simply surrender
|