Reply to What's your "number"?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I am 50.  My retirement plan is to work to 65, and retire with 3x my current 401K balance, or about 2 mil.  We will move to a lower cost of living area, and get a new house with the equity in our house (another 500K by then in today's dollars).

That plus soc. sec. should be enough.  2 million will give me about 7000/mo, and soc sec should be another 2K per month.  [/quote]

How is $2M giving you $7000 month? serious question.[/quote]

5% return or so? SP500 long term average is superior to that.[/quote]

Historically, yes but most experts expect future real return from stocks to be 5% or less. Also, in retirement most people have less than half of their portfolio in equities, meaning your overall portfolio return will be less than the SP500.  Also, most experts consider a withdrawl rate of 3-4% safe. So if you want to be relatively certain you won't deplete your retirement savings, you shouldn't take more than 80k/year = $6500/month (before tax) = $5000/month after tax.  Check your numbers.  [/quote]

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