Reply to Net worth over $20 million

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[quote=Anonymous][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]

There is some MASSIVE overestimation of the cost of healthcare in this thread. My parents are both 80 and their healthcare bills have been relatively minor. And that is with brain surgery, multiple heart attacks and one quad bypass surgery, knee replacements, etc.

Long term care usually doesn't last that long. For most people it is less than a year. Guess what, you're going to die soon once you can't take care of yourself.[/quote]

Agree.

Plus no one hear seems know how Medicare or Medicare advantage works. It pays for everything. [/quote]

And for those of us with interest/income/dividends in retirement, we will pay a decent amount for all of it.  Also, until we hit 65 (or whatever the age is at that time) we will pay $2.5-3K/month for high deductible healthcare from 50-65.  It's not free unless you are low income.

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