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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I would not be comfortable in your situation. I am on the low end of DCUM wealth/income scale, and I don't have plans for a lavish retirement.... but my number for retiring at 55 is at least 5 million plus a fully paid off mortgage. (That isn't going to happen for me.... but I dare to dream.)[/quote]

Are you married?

I'm just wondering if that $5 million is household assets of two people or just for you?  And you either don't have a spouse or they have their own pot of $.

I'm 55 with $4 million of my own, but then my spouse also has their own pot of money ($4 million), so I'm thinking it is doable.

It better be!  I've already annouced my retirement. ;-)[/quote]

Obviously with $8M it's "doable", but it does depend upon your yearly expenses.  We need to know your mortgage/insurance/proptax/maintenance, car expenses, food, travel, HEALTHCARE, and everything else to say with 100% certainty.  Because if you want to spend $500K/year, it's probably not as doable
[/quote]

I guess at this point I just want clarification that when people say that they have a particular number that they are shooting for for retirement, is that a household wealth number (both spouses) or just you as an individual, not including the assets and debts of your spouse?

But yes, lots of details beyond that-- for example we are still paying a mortgage but it's only $2k per month, and I'll carry federal employee health insurance into retirement, which is still an expense, but less than what it costs through ACA.  [/quote]

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