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Money and Finances
Reply to "Net worth over $20 million"
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[quote=Anonymous]A 3% withdrawal rate is meant to preserve your nest egg, not draw it down. Using a 4-5% withdrawal rate runs a real risk of running out of money in old age, or not having anything to pass down to your children. I know people advocate that you should “Die with zero” but that is middle class behavior. The fact that you can reasonably spend 20M in retirement on living expenses and healthcare means that it is still just upper middle class. If you are wealthy then you will be able to set up a trust for your kids/grandkids/nephews/nieces, and make generous donations to your community and alma mater.[/quote]
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