And that’s the $5M point
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Anonymous
| We just crossed it, this morning, based on this market price advance. (Investment portfolio, not counting house.) |
Anonymous
| can you retire yet? |
Anonymous
That is nice. But I just heard you now need ten million to retire. It is a big milestone. But what gets me mad is I was told when did my first 401k if I hit one million I could retire rich!!, then around 10 years ago Suzie Orman started pushing you really need 5 million to retire. Ok, I get it inflation. Now in the last year or so people are pushing you need 10 million. They are staying 5 million is ok if you are 65 today but a 45 year old person will need at least 10 million by the time they retire. When does it stop? I guess kids in college today will need 20 million to retire. |
Anonymous
Yes, this is how inflation works. |
Anonymous
You heard? Who did you hear this from, Elon Musk? |
Anonymous
|
We retired with $3 million in retirement plans and brokerage, and a paid off $1.2m house. Small pension, $3k/month, kids launched/done with college and grad school, and health insurance fully covered.
Health insurance fully covered is the only reason we could retire with these numbers |
Anonymous
When do you expect to retire? We’re at 5.5M, and it’s hard to know what number is realistic. Not asking for advice; just curious what others are doing. |
Anonymous
Yes, but I have no desire to |
Anonymous
Op. In about 20 years |
Anonymous
Most 40YO DCUMmers have $20M by now, per the latest threads. So, with $5M you're behind. |
Anonymous
The number is different for everyone. We retired with ~4M and we’ll be more than comfortable. |
Anonymous
| 10M to 20M is a reasonable amount for a comfortable retirement. Keep saving OP you are well on your way. |
Anonymous
| You can retire with basically nothing if you have a big enough pension or real estate. If you think that you need more than 5 mil, you probably have a spending/mental problem. |
Anonymous
| Congrats! We just passed $3M and I do keep pulling up my app to look at that new number. It's exciting! Also about 20 years away from retirement. |
Anonymous
How old are you OP? |