Would you retire with a NW of $10m?

[Anonymous]

Every reason people mention to keep working is not out of any necessity. The answer is unless you have 5 country club memberships and own a yacht…of course you can retire…easily.

Confused by the idea that your kids can only go to an instate school because of what you saved in a 529. You have plenty of NW to cover any school.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why not? Go buy some 30 year treasuries and earn $475k per year with no state tax.

I assume you can live comfortably on that plus pension

OP said net worth. Assuming that includes his primary home. So couldn’t use that to buy treasuries.

A primary home is not included in net worth calculation. If you are on DCUM you should know that.

The pedantic idiot will be along soon to correct you and throw you in "Net Worth" jail!

[Anonymous]

Anonymous wrote:I know that $10m in retirement accounts seems to be the magic number for many on this board, but would you retire in your eary-50s with $10m NW and a gov pension (that comes with health insurance).
3 kids (11,12,16), no inheritance, no family support with college tuition, etc.

I’m a heartbeat. I don’t even need to read the other replies. We are 44 and have $4M excluding home equity and 529s. If our $4M doubled we’d be done.

[Anonymous]

Yes I would.

I'm 55 and will be retiring with less than $10m, just like probably 95% of Americans will be retiring with less.

[Anonymous]

Hell yeah

[Anonymous]

No, I didn’t. Waited for higher age, older kids, higher NW

[Anonymous]

I wouldn’t. I’d wait until my 60s.

[Anonymous]

Anonymous wrote:Yes I would.

I'm 55 and will be retiring with less than $10m, just like probably 95% of Americans will be retiring with less.

More like 99%.

[Anonymous]

Anonymous wrote:I know that $10m in retirement accounts seems to be the magic number for many on this board, but would you retire in your eary-50s with $10m NW and a gov pension (that comes with health insurance).
3 kids (11,12,16), no inheritance, no family support with college tuition, etc.

What’s your current burn rate OP?

[Anonymous]

Anonymous wrote:Yes I would.

I'm 55 and will be retiring with less than $10m, just like probably 95% of Americans will be retiring with less.

retiring at 55 is different than retiring at 35 with that amount.

[Anonymous]

Nope.

[Anonymous]

Yesterday.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I know that $10m in retirement accounts seems to be the magic number for many on this board, but would you retire in your eary-50s with $10m NW and a gov pension (that comes with health insurance).
3 kids (11,12,16), no inheritance, no family support with college tuition, etc.

What’s your current burn rate OP?

This is the thing. There is no absolutely reason you couldn’t do make this work but if you plan to spend $1.5 million on your kids education and $500k a year on yourself then no.

[Anonymous]

I’d retire at 25 if I’d had $10m then.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I know that $10m in retirement accounts seems to be the magic number for many on this board, but would you retire in your eary-50s with $10m NW and a gov pension (that comes with health insurance).
3 kids (11,12,16), no inheritance, no family support with college tuition, etc.

What’s your current burn rate OP?

This is the thing. There is no absolutely reason you couldn’t do make this work but if you plan to spend $1.5 million on your kids education and $500k a year on yourself then no.

Yup! It's definately doable, but we need to know their burn rate and intake (from pension) and what they really want to spend yearly in retirement, especially for the next 8-10 years while they have kids at home. OP needs to provide more details