UnThreaded | Threaded | Whole Thread (5) | Ignore Thread Prev | Next
Author: pauleckler Big funky green star, 20000 posts Top Favorite Fools Old School Fool Answer Team Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 79739  
Subject: Re: The million dollar issue... Date: 6/15/1999 11:49 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Agreed that it can be enough. The avg SS payment today is said to be about $850/m. So many of today's retirees are probably comfortable on $20k/yr or so. They would see $50K as generous with surpluses to pay taxes and allow for some extra expenses.

However, the $1MM question usually implies retirement long before SS kicks in. Inflation is a larger factor with longer life expectancy. These folks may be retired for 40 to 50 years.

You can probably do it on $1MM if you have to. But to me you would rather have more of a cushion. It would be terrible to run out of money and have to go back to work after 10 or 15 years. Then, when most of your professional contacts have retired, job opportunities may be very limited.

Most of us envision a more upscale retirement with funds for travel and recreation. TMF's 20x recommendation is a good starting point.
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (5) | Ignore Thread Prev | Next


The Retire Early Home Page
Discussion on accelerating retirement day.
Post of the Day:
Macro Economics

Looking at Oil and Gas
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.