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Reply to "And that’s the $5M point "
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[quote=Anonymous]We recently retired at 61 with $5M in the bank - combination of investments and savings accounts. Primary house paid off, $1M in equity. Monte Carlo simulations reflect 93% probability of success Mortgage on second home, $1,750/month for another five years. Sell primary in five years, purchase downsize for $650K. Plan on taking SS at age 67. Financial plan reflects 2.75% inflation each year. Our financial plan includes (each adjusted for inflation each year): $200K LTC Insurance policy $160K/year discretionary spending $40K/year in travel up to age 75, $10K/year after that $24K/year healthcare up to age 65, $12K/year after that Two new cars every eight years. Taxes on investment withdrawals At 93, forecast is to have $5M left over, $2.5M with “bad timing” model, which reflects 12% portfolio downturn in first two years and increased inflation up to 4.75%.[/quote]
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