Debra: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.Well put.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.Vermonter
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra