Can I retire yet?

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anonymous said:
3 million or 5 million
Hmmmmmm
With 3 million I would have to shop thrift stores. With 5 million I could actually buy my clothes new at Target.
If you want to have a decent life your going to need a minimum of 7 million. Take it from me folks, I retired 3 years ago, I have a little over 10 million and I will spend all of it before I die.
Social security will be wiped out. Better save
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Be careful not to fall into the trap of the rich fool.

https://www.biblegateway.com/passage/?search=Luke 12:13-21
 
























anonymous said:
3M just to be safe. That’s the consensus. More in other states. Good luck and happy retirement.
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So at the age of 60 with 3 million you can spend 100K a year for the next 30 years? Not bad. You also have social security and the possible investments returns over time. The open question here is how will inflation perform? No-one knows that answer.
 






















































anonymous said:
I agree. We have about 4.7 million, are 59 and no children. I'm working about another year in this industry. We don't have debt, house worth 300 K.

wife and I would like 5 million before we figure out plan b.
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With $4.7M saved up and a 300k home, I’m not quite sure why you wouldn’t have retired years ago. You can’t take the money with you when you’re DEAD!
 






Best Med Rep said:
With $4.7M saved up and a 300k home, I’m not quite sure why you wouldn’t have retired years ago. You can’t take the money with you when you’re DEAD!
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It sounds like a lot now, but what will it be worth in 10 years? Inflation can eat up your saving fast. Remember when you could buy a great sportswear for $20,000.? Now the same car will cost you $60,000. Good thing to pay off your house so you always have a roof over your head, but groceries, utilities, gas, vacations, etc... always increase in price every year.
 












anonymous said:
Oh it is guaranteed for the length of my life and my spouses life. It is a very lucrative state/local government pension. If my spouse dies, I continue to get the pension less a few hundred a month. Insurance paid as well.
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I retired after 34 yrs in pharma, same company and have a great pension. We take a little less now, so when I croak, she’ll be fine. Reflecting back on my career as retirees are prone to do, I ask myself what would I have done differently. My answer, I should’ve gotten a government job.
Congrats to you, you were smarter than I.
 






I say 7/10 million. You guys need to keep working until you achieve that. I’m retired with less than 500,000 so I need my social security and you need to keep at the grind to fund it.
 






If your on this board you worked or work for Merck, more than likely. That also would imply your more likely than not to possess a college degree. I’m going to go out on a limb here and make the assumption you have the ability to think. Please do so.

The financial services industry is a cesspool of thieves and liars. Their calculators are bogus and their advertising is a lie. They do not care about you at all. They make money off of you and that is all they care about. Capitalism is an economic system that is fueled by the natural greed and selfishness of human nature and financial services represents this system perfectly. The larger your portfolio the more money they make.

Mr. 3/5 million is a troll or financial services slime. Nobody can tell you what you need to retire without knowing your lifestyle and personal situation. Anyobody claiming otherwise is a manipulative steamy pile of lying dog shite. Calculators attempt to manipulate you and they lie to make you save more money for them.

Almost 50% of people take their social security at 62. All these clowns tell you to wait. If I were a selfish prick I would suggest you wait so you can keep funding social security for me. Most people do not want to work until 70. They pay you to work because very few would do it for free, it’s not called play time for a reason.

If you have a big house payment and want a new car each year and desire to travel and stay in wonderful hotels, maybe you will need 5 million. I don’t know you or your situation.
All you need to do is determine your monthly expenses when you retire and obtain that amount of money each month. You have social security income, pension (maybe), lump sum, 401K. If you invest that conservatively you should be able to take out 5% annually without ever touching your principal. Obtain long term care insurance. Factor in inflation, though you must consider what your intentions are to spend money on, it may be a factor or maybe not.

If someone tries to give you a specific dollar amount you need without understanding your life situation then you should run away fast and consider that person a useless human stain not worthy of pissing upon if they were on fire. This is most of the financial services industry.
 






anonymous said:
If your on this board you worked or work for Merck, more than likely. That also would imply your more likely than not to possess a college degree. I’m going to go out on a limb here and make the assumption you have the ability to think. Please do so.

The financial services industry is a cesspool of thieves and liars. Their calculators are bogus and their advertising is a lie. They do not care about you at all. They make money off of you and that is all they care about. Capitalism is an economic system that is fueled by the natural greed and selfishness of human nature and financial services represents this system perfectly. The larger your portfolio the more money they make.

Mr. 3/5 million is a troll or financial services slime. Nobody can tell you what you need to retire without knowing your lifestyle and personal situation. Anyobody claiming otherwise is a manipulative steamy pile of lying dog shite. Calculators attempt to manipulate you and they lie to make you save more money for them.

Almost 50% of people take their social security at 62. All these clowns tell you to wait. If I were a selfish prick I would suggest you wait so you can keep funding social security for me. Most people do not want to work until 70. They pay you to work because very few would do it for free, it’s not called play time for a reason.

If you have a big house payment and want a new car each year and desire to travel and stay in wonderful hotels, maybe you will need 5 million. I don’t know you or your situation.
All you need to do is determine your monthly expenses when you retire and obtain that amount of money each month. You have social security income, pension (maybe), lump sum, 401K. If you invest that conservatively you should be able to take out 5% annually without ever touching your principal. Obtain long term care insurance. Factor in inflation, though you must consider what your intentions are to spend money on, it may be a factor or maybe not.

If someone tries to give you a specific dollar amount you need without understanding your life situation then you should run away fast and consider that person a useless human stain not worthy of pissing upon if they were on fire. This is most of the financial services industry.
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Please stick to the original topic. 3M or 5M?
 






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