What income are you aiming for in retirement?

[Anonymous]

Thats the question.

[Anonymous]

Social security + 2 Fed pensions will give us enough to live off. We don’t anticipate having to touch retirement savings.

[Anonymous]

We need 200K (~175K + income tax).

This morning I read that JPM came out with new guidance saying 4% Rule should be discarded due to ongoing inflation and potential lower returns in the next decade. People should consider 2% - 3% withdrawals. JPM is also the most conservative on projecting where the S&P500 will be at the end of 2024.

[Anonymous]

Single woman

-$10K /mth

[Anonymous]

$10k/month and a paid off house.

[Anonymous]

Anonymous wrote:We need 200K (~175K + income tax).

This morning I read that JPM came out with new guidance saying 4% Rule should be discarded due to ongoing inflation and potential lower returns in the next decade. People should consider 2% - 3% withdrawals. JPM is also the most conservative on projecting where the S&P500 will be at the end of 2024.

So based on this you will need $10m to retire?

[Anonymous]

$250k a year for the two of us.

[Anonymous]

$300k after taxes

[Anonymous]

Anonymous wrote:$250k a year for the two of us.

. That’s my number as well except since retirement distributions are taxed at ordinary income rates that’s about 380k needed to have this much $ annually.

[Anonymous]

$3k a month only as I want to retire abroad. It's so little that my investment should continue to grow.
The months I'm back in US, should cost me only $5k a month.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We need 200K (~175K + income tax).

This morning I read that JPM came out with new guidance saying 4% Rule should be discarded due to ongoing inflation and potential lower returns in the next decade. People should consider 2% - 3% withdrawals. JPM is also the most conservative on projecting where the S&P500 will be at the end of 2024.

So based on this you will need $10m to retire?

I would go with the 3% withdrawal rate + SSI, so 6.7mm.

[Anonymous]

Why do you need so much if your house is paid off, depts paid off and you have Medicare?

$60K will be plenty.

[Anonymous]

Anonymous wrote:Why do you need so much if your house is paid off, depts paid off and you have Medicare?

$60K will be plenty.

Everyone has different lifestyles. Just because you only need 60K doesn't mean that's all everyone should need. Property tax is one variable. Another is health needs. Another could be helping kids. The list of variables is long.

Your assumption is judgmental and/or naive.

[Anonymous]

Anonymous wrote:$3k a month only as I want to retire abroad. It's so little that my investment should continue to grow.
The months I'm back in US, should cost me only $5k a month.

Which country are you planning to live in for retirement?

[Anonymous]

Anonymous wrote:

Anonymous wrote:We need 200K (~175K + income tax).

This morning I read that JPM came out with new guidance saying 4% Rule should be discarded due to ongoing inflation and potential lower returns in the next decade. People should consider 2% - 3% withdrawals. JPM is also the most conservative on projecting where the S&P500 will be at the end of 2024.

So based on this you will need $10m to retire?

We have the same goal as PP, but no, we do not anticipate needing 10M to retire. Try your math again.

I haven’t reviewed the math behind the JPM statement about 2-3% withdrawals but I am interested in reviewing it soon and plan to.

Also plan to have a paid off home at retirement.