Can I retire yet?

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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.
 






anonymous said:
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.
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3M is the general consensus. Why ignore them?
 






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






























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.
 






anonymous said:
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.
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Disagree..only 1M? Won’t cut it.
 












anonymous said:
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.
Click to expand...

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












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.
 






anonymous said:
If you need 3-5 million to retire then your doing it wrong.

I left Merck two years ago. I immediately bought a new vehicle (cash) and paid off my home. I have about 1.4 million in savings. The wife and I collect about $4200.00 per month in social security.

I have not touched the savings, I have a long term care policy and no worries.

I don’t know what the hell you guys are doing that you need 3-5 million.
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anonymous said:
If you need 3-5 million to retire then your doing it wrong.

I left Merck two years ago. I immediately bought a new vehicle (cash) and paid off my home. I have about 1.4 million in savings. The wife and I collect about $4200.00 per month in social security.

I have not touched the savings, I have a long term care policy and no worries.

I don’t know what the hell you guys are doing that you need 3-5 million.
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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.
 






anonymous said:
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.
Click to expand...

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
























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