Reply to What's your "number"?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]last summer I figured $4M. Now it seems more like $10M. That is to pay 2 college tuitions and have $200K/yr to live on (which sounds like a lot, but so did $100K 15 years ago)[/quote]

Are you talking 200K/year in cash to live on?  That's 16K+/month in cash with no mortgage/car payments/student loans/college.  Seems like a lot to me.[/quote]
Tax takes half[/quote]

What would you spend the money on?  Why so much?  I'm trying to figure out if I'm missing something.  I'm assuming mortgage is paid off as well as college.  What will your monthly expenses be?[/quote]

It depends on what you want to do in retirement. Without a pension and medical, you have health insurance ($1000 mo -- older), long term care insurance -- you would be crazy not to have that, travel budget ($20K+) hobbies (what are you going to do in retirement --read a book?), kids grad school, or other help, homeowners insurance, taxes on your paid off home, glasses, clothes, eating out -- trust me when you are 65 you will really be tired of cooking, household help, lawn service ... you cannot borrow, so everything comes out of capital...[/quote]

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