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Reply to "What NW would a person need to retire by age 30 in a HCOL area? "
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[quote=Anonymous][quote=Anonymous]Google the 4% rule; it will give you a rough approximation. Start with your desired income. You mention a HCOL area, so maybe $300k/year of income? $300k/.04=$7.5 million. The 4% rule says that if you start with a 4% withdrawal rate in year one, then increase your withdrawal each year by the inflation rate and you hold a 60/40 stock/bond portfolio, you should not run out of money for a 30-year retirement. Obviously, you have more than 30 years to plan for, so you should allow a margin of error. Maybe, $10 million. [/quote] This — the “4% rule” assumes you are at retirement age (62+) and will spend down your capital. It does not work for someone retiring at 30. OP needs to run a calculator (there are many on line). However, off the top of my head, $10 million would be my answer. [/quote]
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