Reply to Is NW of 4M as a 50 yo good enough

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[quote=Anonymous]I would not feel comfortable with that amount if you’re talking about retiring at 55–you can easily have 40 more years to fund including health care costs which in this country is a major wildcard.  My parents have some medication that costs $10 a day and they are each on about 10 prescriptions.  And don’t forget dental care as all their teeth crack with age.  They luckily don’t have to pay for in home care as they have most of their marbles and my siblings help out with bringing them dinner a few times an week and taking out their trash.  But old age in this country is crazy expensive. And what if one of your kids has a car accident and needs longer term support?

And the people who are saying oh college is cheap just go to an in state school have not applied to college lately.  Not everyone gets into places like U Md—you need really good grades now.  If you don’t have top grades you may really need to do an out of state public school  or a smaller second or third tier LAC.

The earlier you retire the more uncertainties there are — market returns, your health, your kids’ health, your kids’ education.  People that retired early in 2007 were really screwed becuasue they lost such a big chunk of their retirement in the crash, and had no way to replace it.  It’s totally different if you have defined benefit pension and guaranteed retiree health — then you can go crazy and retire whenever you vest fully!   [/quote]

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