Reply to Would you retire with a NW of $10m?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I would absolutely retire with a NW of $10m. I can live comfortably at a $300k annual income, which is a conservative withdrawal rate. [/quote]

Similar situation with similar aged kids. I wouldn’t. Heath insurance is an issue. [/quote]

With $10MM NW, you really don't think a family can just buy health insurance? Why not?[/quote]It adds significantly to the annual budget. [/quote]

But not really.  Of course, OP indicated they receive health insurance even if they were to retire today.

I still don't understand why anyone thinks $20k - $30k per year for health insurance is much of an issue with a $10MM net worth.  [/quote]

It all comes down to how much do they need to live each year (in the lifestyle they want)?  10MM is great if someone is living on 130K/year.  But lets say you live until 90 (typical for my family on both sides).  that means another 40 years of living and expenses.  Take away $1M for college for the 3 kids (one is only 12, instate might be $50K+/year).  Then how much of that NW is in intangible assets like a home or boat or car?  Let's say 2M.  Now you are down to 7M and you need to generate income from that to live.  All while realizing you still have a decade before your kids are really out on their own.  
If you need $400K to live/year, then you likely will be drawing down the principle. If you need only 200K you can probably find a way to generate income without drawing principle.

Just need to do the calculations
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