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I had posted the message below a couple of days ago on the TMF Retired Early board. Then I got to thinking that it might be appropriate to post here also.

"With a safe withdrawal rate of 4%, and "Standard of Living" from $40k per year to $120k per year implies portfolios (not net worths) of $1 million to $3 million per year. I think that most of us can agree that these are substantial sums of money (although a million sure ain't what it used to be!!).

What are some of the planned or existing strategies that RE folks are using to protect themselves from poverty-inducing lawsuits? I mean the kind of lawsuit stemming from a car or boat or personal watercraft accident, or even from a stranger slipping in front of house. Does one just depend of the home owners and auto insurance for protection, or does something like an umbrella insurance policy come into play?

Speaking of not losing one's stash, should one be concerned about having all of the IRA's (essentially where most of our goodies are stored) being held by a single brokerage house (Schwab)?

I'm trying to figure out all of the ways that I should become paranoid.

Is anyone with the $1 million to $3 million concerned with online stock transactions, or the possibility of someone getting access to the brokerage accounts through identity impersonation? I've noticed that when I've called Schwab about account information that they don't always seem to do a good job of quizzing me to make sure I am who I say I am - I guess that I have an honest voice!


LuckyEngr (who has found there are no books on how to be a millionaire without also having an expensive "team", which makes it more likely to NOT stay a millionaire!!)"
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