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Retirement Discussions / Retire Well on Less
|Subject: Re: "The money will run out in 8 years.&quo||Date: 4/5/2011 3:16 PM|
|Author: RetiredVermonter||Number: 1391 of 1490|
4% of $300,000 is $12,000, which means that they would need to cut their current spending by about half for this to work. Currently, they have no interest in cutting back or increasing income.
When I read something like this, I shake my head and smile sadly.
Cut back, as you said, and they should be fine.
BTW, we live on maybe $30K a year, most of that SS plus some money I take from an IRA that I actively manage myself, and have for about 10 years. We have a small mortgage, eat out most days for lunch or dinner, pay our other bills, and basically enjoy life just fine.
These people lack a sense of reality, and, unless they wake up and smell the coffee, they perhaps WILL run out of money in 8 years (or so)!
And that is just plain dumb.
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