Can I retire yet?

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anonymous said:
I have read and studied extensively on retirement. The 4% Rule is used by many. This tool has been proven through several depressions and recessions to work. I can only impart my wisdom to you. You sir....are the tool. If a 5million nest egg is only drawn down by 100K a year, the only thing that retiree is doing is preserving their retirement funds for their heirs.
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do you even understand that money is fake?

:))).

your reality needs some fixing.
 
























anonymous said:
I agree 100% with this poster...I think 5 million is the minimum these days, and I am not talking about having an extravagant lifestyle...it is just that the dollar buys so little now, and people are living so dang long as well...I have about 2.5 and I am scared Sh*tless about my future...
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If you think you really need 5 million which translates to $200K a year at a 4% draw down a year, not including the Rule of 72 which can double your savings every 7 years or so depending on the return....then you are an idiot. I have $660K currently and by the time I retire (11 years) and start drawing from my 401K and Roth, I will have 1.7 million. That's without ever putting another single dime in my 401K again. So spare us the stupidity..
 












Depends on where you live and how much debt you have.

In the South or MidWest, with minimal debt, about 1-2 million.

In CA, NYC or other pricey area with moderate debt, about 4-5 million.
 


















anonymous said:
Want to retire early..55 is my goal, but worried about the expense of paying for healthcare:(! Any idea how much a single person plan with decent health insurance is?
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First of all, get COBRA from your company...You can figure about 800 a month. You can get Cobra for 18 months. Expect to pay the same in the free market.

I know it bites you, but it's worth it to get out of this toxic industry...
 






Yes that’s about right but you can pay a little less if you search the commercial insurances. I recently lost my pharma job & for a family of 3 am paying about $2,300 a month for medical, dental & vision & it is no way near as good a coverage as I had. To keep my same coverage through Cobra would have been close to $3K a month. Don’t take your company-paid healthcare benefits for granted.
 






anonymous said:
Want to retire early..55 is my goal, but worried about the expense of paying for healthcare:(! Any idea how much a single person plan with decent health insurance is?
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Vote for Pocahontas and you will have “free healthcare”. Bernie’s promises add up to a mere $93, 000,000,000,000. If the Communist took the entire assets of all the 1 percenters in the U.S. it would pay for about 8 days worth of benefits in his dumbass, Socialist plan. My sister who has been a lifelong Democrat, has finally realized these people are basically economically challenged, and know absolutely nothing of which they speak. She will have to swallow hard to vote for Trump, but she will, and has said so.
 






anonymous said:
Vote for Pocahontas and you will have “free healthcare”. Bernie’s promises add up to a mere $93, 000,000,000,000. If the Communist took the entire assets of all the 1 percenters in the U.S. it would pay for about 8 days worth of benefits in his dumbass, Socialist plan. My sister who has been a lifelong Democrat, has finally realized these people are basically economically challenged, and know absolutely nothing of which they speak. She will have to swallow hard to vote for Trump, but she will, and has said so.
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Even when you’re a laid off Pharma Rep or forced out which can happen at any second, you support paying $2300 a month in insurance?
 






I must be terrible at investing. 46 yo, just shy of 800k, and alot of you are talking 2mil plus. Live in South...maybe I won't need this much. But honestly thought I was doing well for my age. Advice?
 






anonymous said:
I must be terrible at investing. 46 yo, just shy of 800k, and alot of you are talking 2mil plus. Live in South...maybe I won't need this much. But honestly thought I was doing well for my age. Advice?
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There was a survey of senior retirees. They stated the average net worth of seniors was around 120K. If you go by that figure, 800K is very good.
 






anonymous said:
I must be terrible at investing. 46 yo, just shy of 800k, and alot of you are talking 2mil plus. Live in South...maybe I won't need this much. But honestly thought I was doing well for my age. Advice?
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You’re doing great! The first $ million is the hardest. Just max out 401k and save, save and save more. Live beneath your means and you will do just fine!
 


















I have 700K right now and I have at least 7 more years before I can tap my 401K without penalty. By my calculations, that 700K should be around 1.2 million by then with no more contributions added. Of course, I will be adding more so I think I will be just fine.
 






the thing that will absolutely kill you in retirement, (even with a couple of million socked away)
is paying for your own healthcare. I am finding that out now...A decent PPO plan can cost upward of
$1,000 per month just for yourself. If you have others dependent on you it gets even uglier pricewise.

Because of the Kenyan Community Organizer, it became a tax penalty to not buy insurance. Previously,
in America, being forced to buy something would have been unheard of.

But now, with creeping Socialism, those that have the money, have to pay for the healthcare of
those that don't.

In summary, healthcare will likely be your most costly item once you retire.
 






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