[Craig T]

Originally Posted by VincentVega

I think that sounds good and I wish you the best but math is not on your side. Current interest rates will give you what 10-20k /year? Add inflation and that could be more like 5-10k/year in today's $$. If/when rates get back to normal you can maybe get 30-50k/yr.

No reason to freak out on this topic, the sky is not falling. Just know what you are getting into and be realistic.

The above math of course is if you do not intend to draw down principal. If you retire at 65, and expect to live to 80, then $1MM can withdrawal $66,600 per year. Coupled with Soc Sec, that's likely $78,600 and a decent retirement income if the house is paid off. Just have enough money left over for a couple .357 rounds in case you live past 80.