Anonymous wrote:
Anonymous wrote:5 million is now the amount needed to retire for a couple with zero debt.
So a person newly retired or about to retire that is the bare min hardly rich
My formula is pretty simple. I want to maintain my W-2 income level post retirement. That income will consist of social security for both of us, our pensions and utilizing 4-5% of our debt free assets. Our social security will be $40,000+, our pensions $80,000 so that total is $120,000 with W-2 income of $300,000. The gap is $180,000 so we need a minimum of debt free assets of $3.6-$4.5 million to make it work. I know it is very simplistic but it is easy for me to deal with. We are not far from retirement and the bull market the last few years has increased our assets nicely above the target. We are now shifting our investment mix to more conservative assets so we don't get caught retiring just when equity markets head south.
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