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Reply to "At 35, is 1M a big enough nest egg"
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[quote=Anonymous]The question is meaningless as presented. "Big enough" for what? If you plan to never contribute another cent to savings/investments, and earn 7% year until age 65, $1M will grow to $7,612,255. Whether that is enough depends 1) whether you actually achieve that annualized rate of return, 2) don't need to tap into your principal early, and 3) what your expenses will be in retirement. If you assume a 3.5% annual rate of portfolio drawdown, you can probably withdraw $266,428 annually from your principal without running out of money over the next 30 years. Pension and SS income can reduce the amouint you need to take from your portfolio, or extend how long it lasts, but that depends on your expenses, obviously.[/quote]
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