Vickifool said:It's very interesting to me to see that most of the poll respondants agree with me that $1 to $3 million is how much money retirement takes. Where did everyone else get their number? Hocus pointed out recently that a pre-ER income of $100,000 really only meant $20,000 in discretionary income, after $25,000 in taxes, $25,000 in housing costs, $20,000 in savings for ER, and $10,000 for transportation costs needed for work. So while it would take $2.5 million to generate a safe $100,000, it will only take $625,000 (and an owned home and vehicle) to generate $25,000 in safe ER income. I can retire early (in 18-24 months or so), and have a safe rate of withdrawal that meets my expenses, or wait MANY more years and have a safe retirement income that meets current salary. So I voted in the $500,000 - $1 million block.
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