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Money and Finances
Reply to "Net worth over $20 million"
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[quote=Anonymous][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] The 3% withdrawal rate is for people that need to draw down their principal. You can earn a reasonably safe 4%-5% return…so $800k-$1MM…and you never touch the principal (and in fact probably keep adding to it).[/quote] My goal is to live off the interest of my interest. [/quote]
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