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Money and Finances
Reply to "Net worth over $20 million"
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[quote=Anonymous][quote=Anonymous]20M is not rich. Using a 3% withdrawal rate you will have an inflation adjusted 600k per year to spend in retirement. That is a comfortable upper middle class lifestyle at best. People vastly underestimate taxes, the cost of healthcare, and the cost of home maintenance. [/quote] You're completely nuts. While both my DH and I were working full time we made $600,000 or more only a couple of years and have had a very nice lifestyle. No debt, healthcare costs subsidized by the federal government. And our net worth grew from 8 million to 13 million after my husband retired and our HHI was around $350-$400,000. All of our needs and most of our wants will be covered just from pension and social security and certainly by unearned income in retirement, totalling less than $300K a year but a very healthy retirement income.[/quote]
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