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Reply to "Pension without social security "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]At a 4% drawdown I believe that someone would have to have saved $2,075,000 to get $83,000 per year. The problem of a pension is not having the full value to pass to descendants but fully paid off primary and rental homes substitute for this nicely. [/quote] If I were to guess only 10% of Americans will probably have a 401k balance of $2 mil if they retire at 65. This forum makes $1 my million sounds like $100k. [/quote] If they have $2mil they don't need a 4% draw down. They can live very well on more than that and never run out of money[/quote] Are you kidding? I plan to have between 2 to 3 million. I will absolutely need a 4% drawdown. What do you think I am going to live on? I don't own a house. I did and sold. My money is in my investments and my retirement. I am at about $1 million now, but I have 15 more years to work. I won't have paid off house. I will need 80k-100k a year to live.[/quote]
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