Reply to Walk away from $1 million a year?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]But what about the poster who says she'd keep working until she paid for all her grandkids college and grad school and bought all her kids a house?  Am I a bad person for thinking that that's overkill?  My kids certainly don't expect or want that.[/quote]

That person's crazy, but you spent $250k last year and are on track to spend nearly $200k this year -- and the market is due for a correction.  You don't need to work until no one in your family ever has to have a job again, but I'd personally want more cushion than you're planning on.  Either spend less or work a little longer.

Unless your spouse works?  Would you be living on $200k or $200k plus an income you haven't mentioned yet?[/quote]

Spouse does not work.  We do pull in about $25k from a rental.  I really do think last year was an aberration -- as I said, yes, we spent $250k, but $70k was on a wedding, the last one we are throwing.  And this year we are on track to spend about $180k, about 3 percent of our net worth.  We're certainly not wanting for anything, and probably could cut back if we wanted.  I also will eventually have social security coming in someday (current estimate is $41k a year), assuming it's still around![/quote]

3% is extremely safe for a 30-40 year retirement. Add in SS and you are fine.  Your nest egg will likely continue to grow even as you pull from it.  Just leave.[/quote]

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