Can I retire yet?

I'm so sorry, but incorrect

Thank you

 

People please start ignoring the dumbass poster that keeps continuously posting that you need 3 to 5 million to retire. This is the same person posting over and over again to everyone here. He is like a cockroach that never leaves this thread. No one needs 3 million for a comfortable retirement if you have all debt gone and live reasonably. Just ignore them.

 

3M is the general consensus. Why ignore them?

 

What’s reasonably? In my area, it’s 4M minimum.

 

3M is right.

 

Because they're wrong

Thanks!

 

Please put down the crack pipe

What's reasonably you ask? Just what it says....reasonably

 

Nope, it's wrong

Best Regards

 

3 Million guy is an ass or Edward Jones Rep
Completely full of crap.
I’m retired now 7 years, it’s completely dependent on what you want to do. If you want to travel the Mediterranean then you need several million.
If you want play golf and chill in South Carolina as I do, you can roll with about a mill.

 

Disagree..only 1M? Won’t cut it.

 

Most people die by 84 and 85; plan according upon lifestyle and geographic location and not helping kids, paying a mortgage or debt. You will be fine.

 

It's all about what you spend not what you have.

 

2M is simply not enough. One should strive for 4M in this time of uncertainty.

 

Ok, I want to apply some logic to this thread

Let’s say Mr 3/4 million is on target.
You have a portfolio of 4 million
A modest annual earnings of 5% would net 200,000 annual income (16,500 monthly) while never touching the principal.
If you have a 4 million nest egg I’m sure your maxed out on ss benefits so your pulling 2700 from that.
2700 + 16,500 (200,000/12) = 19,366 in monthly income. Hmmm. Who has a problem living off that?

Ok let’s say just 1 million.
At 5% that’s 50K
Ss give u 2400
4100 + 2400 = 6500

Now we need to look at your expense
If you are debt free I say your good at 1 million
If you still have mortgage then you you need to factor that

Get a LTC policy. Medicare and your good

Mr 4 million please share with me what I’m missing.
I’m sure you will respond with your typical “today you need 4 million” response with zero data to back that up.

 

Same here I live in New York City. I have 2 million in savings been retired for going on two years haven’t touched savings or the accrued investment gains yet. No/low debt is the key.

 

Great breakdown. You proved that 3M/4M is needed, however.

 

Ok thanks Wells Fargo person——previous post prove your full of shite and you have nothing to back it up. Bye Bye......

 

for what it’s worth, I’m in rural Tennessee
I have about 1.2 million. Retired and no debt. Not a single worry

 

All you old worthless geriatric pieces of shit at Merck should retire by jumping off a bridge!