Can I retire yet?

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anonymous said:
Disagree. Horrible advice
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No it's not. What you have to factor in is how much of your lifestyle is subsidized by Merck.
Too many of you $3-5 million clowns/wannabe part of the jet set use(d) the expense account to provide you little luxuries you wouldn't normally be buying or using, i.e., company car, gas, maintenance, insurance is a major one. Golf, CC, dinners out you hide as entertainment,etc. I knew reps who did things I would be scared to do for fear of prison!
Separate your need from wants within reality and I guarantee you"ll need less than you think.

The first question to ask any financial advisor...Who's retirement are you most concerned with, yours or mine?
Retiring at 62-66, having lived within your means, pension and/or 401k, $1-2 million will afford you a very comfortable life.
If you want to live the lavish life, whatever that means to you then the sky will have to be your limit.
 






anonymous said:
No it's not. What you have to factor in is how much of your lifestyle is subsidized by Merck.
Too many of you $3-5 million clowns/wannabe part of the jet set use(d) the expense account to provide you little luxuries you wouldn't normally be buying or using, i.e., company car, gas, maintenance, insurance is a major one. Golf, CC, dinners out you hide as entertainment,etc. I knew reps who did things I would be scared to do for fear of prison!
Separate your need from wants within reality and I guarantee you"ll need less than you think.

The first question to ask any financial advisor...Who's retirement are you most concerned with, yours or mine?
Retiring at 62-66, having lived within your means, pension and/or 401k, $1-2 million will afford you a very comfortable life.
If you want to live the lavish life, whatever that means to you then the sky will have to be your limit.
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Only 1M-2M? You’ll be homeless. 3M minimum for the behind the times South or 5M for NY and Cali.
 






anonymous said:
Only 1M-2M? You’ll be homeless. 3M minimum for the behind the times South or 5M for NY and Cali.
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I completely agree with this poster...I got pushed out of Merck at 50 and you would
not believe how quickly you hemorrhage even healthy savings...

3 million would give you a shot in an inexpensive area, but (like the poster said) 5 mil would
be minimum for the coasts...(Especially if Libs keep governing them into the ground.)
 






anonymous said:
I completely agree with this poster...I got pushed out of Merck at 50 and you would
not believe how quickly you hemorrhage even healthy savings...

3 million would give you a shot in an inexpensive area, but (like the poster said) 5 mil would
be minimum for the coasts...(Especially if Libs keep governing them into the ground.)
Click to expand...

The post said retire at 62-66, not 50. Big difference.
 






anonymous said:
It's not 1980 gramps. This won't cut it. The general consensus is 3-5 million.
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Whose consensus, you idiots? SS, Medicare. That covers basic expenses.
Then, when you run out of money, Welfare, Medicaid, food stamps, etc. I want all the goodies given to the “poor”, illegals, and the rest of the freeloading bums in this country.
By the time we’re in our 80’s most have one foot in the grave and the other on a banana peel.
Not spending my hard earned money on a nursing home where the care isn’t much better than a kennel.....probably worse. People treat their pets better than their kids. I’ll be peeing and pooping my knickers in my own home, thank you.
So, sonny, you keep believing your 3-5 bs. I’ll be living very comfortably on half of that.
 






anonymous said:
The post said retire at 62-66, not 50. Big difference.
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Right. The only people who can retire comfortably at 50-55 are government workers with the benes we taxpayers pay for.
You financial geniuses who have 4+ million saved....congrats. You either have a spouse working or inherited at least half of it. Pharma is lucrative, but not that lucrative at the sales level.
 






anonymous said:
I completely agree with this poster...I got pushed out of Merck at 50 and you would
not believe how quickly you hemorrhage even healthy savings...

3 million would give you a shot in an inexpensive area, but (like the poster said) 5 mil would
be minimum for the coasts...(Especially if Libs keep governing them into the ground.)
Click to expand...

Same story but different company. You are correct. People will be in for a rude awakening.
 






Yea, I agree. 5 million minimum.
Retiring at 62 is a joke, you need to role until 67-70 and make sure you have at least 5 million or you will be poor and eating noodles at 72.
 






























I don’t care what u guys do but here but for discussion here is mine.

Retired last year at 62
No debt, house paid and own 2 new vehicles.
Social security for myself n wife 3950.00 mo
900K in 401K after I paid off house, I pull 2K each month from the interest and reinvest the remainder. Financial Advisor says if we live to 100 there will still b over 1 million in principal with current withdrawal rate.
Wife and I have a little home business that generates about 1500 month. Use that to pay for Merck retiree health and LTC with plenty left over.
I’d like to have 5 M but I’m fine without it.
 






anonymous said:
I don’t care what u guys do but here but for discussion here is mine.

Retired last year at 62
No debt, house paid and own 2 new vehicles.
Social security for myself n wife 3950.00 mo
900K in 401K after I paid off house, I pull 2K each month from the interest and reinvest the remainder. Financial Advisor says if we live to 100 there will still b over 1 million in principal with current withdrawal rate.
Wife and I have a little home business that generates about 1500 month. Use that to pay for Merck retiree health and LTC with plenty left over.
I’d like to have 5 M but I’m fine without it.
Click to expand...

Good luck. That’s pushing it. Hopefully you can make it with that figure.
 












anonymous said:
I don’t care what u guys do but here but for discussion here is mine.

Retired last year at 62
No debt, house paid and own 2 new vehicles.
Social security for myself n wife 3950.00 mo
900K in 401K after I paid off house, I pull 2K each month from the interest and reinvest the remainder. Financial Advisor says if we live to 100 there will still b over 1 million in principal with current withdrawal rate.
Wife and I have a little home business that generates about 1500 month. Use that to pay for Merck retiree health and LTC with plenty left over.
I’d like to have 5 M but I’m fine without it.
Click to expand...

Congrats! Thinking of doing same in July.
One question re: SS as it sounds high. are you both collecting on your own work records or does your wife draw half of yours?
 












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