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Reply to "Would you retire with a NW of $10m?"
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[quote=Anonymous]Everyone's situation is different. With a net worth of 10m at age 50 I would, because that should bring in 300-400k/year, which is more than we live on now and we are actively saving for retirement and college. That being said, I would only do it if I really wanted to retire or had other things I wanted to do. Our target number to retire is 3m in retirement accounts, plus 400k/per kid (we split between college and general investment account for them). We dont need as much in retirement because we have pensions and social security that will bring something like 185- 200k/year. Add in the money from retirement accounts and we should have more than enough. We are pretty close now, but will keep working for a variety of reasons (flexible interesting jobs) so I expect we will exceed our target, but who knows what life brings. We also made sure to get term life insurance so that would cover us until retirement/pensions kick in. [/quote]
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