Anonymous wrote:

Anonymous wrote:

Anonymous wrote:For those of you who have saved at least a few million in your 401(k) (congrats!), are you planning to just live off the annual returns and preserve the entire principle for your kids, or is your plan to live very well and spend down a good amount of the principle? If you do plan to live off the returns, how much did you save?

DH and I just retired (both 55) and are predicting a 33-year life expectancy in retirement. We’ll withdraw 3% this year, all pre-tax, and then index that amount for inflation / COLA every year after. Don’t expect to have anything left at the end. We’re even planning to sell our house and use the proceeds to take a few extravagant around-the-world cruises to make sure our kids won’t be able to inherit anything from that.

We currently have $16M and plan to withdraw $480K this year, $495K in 2025, $509K in 2026, etc… This replaces about 75% of our working years’ HHI (was $622K last year), but we’re also not needing to save any more, so hopefully we’ll be okay.

Doesn’t include SS or small pension of $9K per month. Probably just use those income streams for fun money, Starbucks, etc….

Kids are on their own and, quite frankly, by design. We’ve raised them all to be hardworking self-starters. Nothing would be more embarrassing for or offensive to our kids than receiving an inheritance handout, so we do our best to spare them from this – one of life’s greatest signs of failure.

Hysterical. Well done use of sarcasm. Or you're a troll.

Regardless, bravo.

Anonymous wrote:

Anonymous wrote:For those of you who have saved at least a few million in your 401(k) (congrats!), are you planning to just live off the annual returns and preserve the entire principle for your kids, or is your plan to live very well and spend down a good amount of the principle? If you do plan to live off the returns, how much did you save?

DH and I just retired (both 55) and are predicting a 33-year life expectancy in retirement. We’ll withdraw 3% this year, all pre-tax, and then index that amount for inflation / COLA every year after. Don’t expect to have anything left at the end. We’re even planning to sell our house and use the proceeds to take a few extravagant around-the-world cruises to make sure our kids won’t be able to inherit anything from that.

We currently have $16M and plan to withdraw $480K this year, $495K in 2025, $509K in 2026, etc… This replaces about 75% of our working years’ HHI (was $622K last year), but we’re also not needing to save any more, so hopefully we’ll be okay.

Doesn’t include SS or small pension of $9K per month. Probably just use those income streams for fun money, Starbucks, etc….

Kids are on their own and, quite frankly, by design. We’ve raised them all to be hardworking self-starters. Nothing would be more embarrassing for or offensive to our kids than receiving an inheritance handout, so we do our best to spare them from this – one of life’s greatest signs of failure.

Anonymous wrote:

Anonymous wrote:For those of you who have saved at least a few million in your 401(k) (congrats!), are you planning to just live off the annual returns and preserve the entire principle for your kids, or is your plan to live very well and spend down a good amount of the principle? If you do plan to live off the returns, how much did you save?

DH and I just retired (both 55) and are predicting a 33-year life expectancy in retirement. We’ll withdraw 3% this year, all pre-tax, and then index that amount for inflation / COLA every year after. Don’t expect to have anything left at the end. We’re even planning to sell our house and use the proceeds to take a few extravagant around-the-world cruises to make sure our kids won’t be able to inherit anything from that.

We currently have $16M and plan to withdraw $480K this year, $495K in 2025, $509K in 2026, etc… This replaces about 75% of our working years’ HHI (was $622K last year), but we’re also not needing to save any more, so hopefully we’ll be okay.

Doesn’t include SS or small pension of $9K per month. Probably just use those income streams for fun money, Starbucks, etc….

Kids are on their own and, quite frankly, by design. We’ve raised them all to be hardworking self-starters. Nothing would be more embarrassing for or offensive to our kids than receiving an inheritance handout, so we do our best to spare them from this – one of life’s greatest signs of failure.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:For those of you who have saved at least a few million in your 401(k) (congrats!), are you planning to just live off the annual returns and preserve the entire principle for your kids, or is your plan to live very well and spend down a good amount of the principle? If you do plan to live off the returns, how much did you save?

DH and I just retired (both 55) and are predicting a 33-year life expectancy in retirement. We’ll withdraw 3% this year, all pre-tax, and then index that amount for inflation / COLA every year after. Don’t expect to have anything left at the end. We’re even planning to sell our house and use the proceeds to take a few extravagant around-the-world cruises to make sure our kids won’t be able to inherit anything from that.

We currently have $16M and plan to withdraw $480K this year, $495K in 2025, $509K in 2026, etc… This replaces about 75% of our working years’ HHI (was $622K last year), but we’re also not needing to save any more, so hopefully we’ll be okay.

Doesn’t include SS or small pension of $9K per month. Probably just use those income streams for fun money, Starbucks, etc….

Kids are on their own and, quite frankly, by design. We’ve raised them all to be hardworking self-starters. Nothing would be more embarrassing for or offensive to our kids than receiving an inheritance handout, so we do our best to spare them from this – one of life’s greatest signs of failure.

For most people a pension of $9k/month is not small! Also, what happens if you die and don’t leave anything to your kids and one of them has something tragic happen to them and they cannot work?

Anonymous wrote:

Anonymous wrote:For those of you who have saved at least a few million in your 401(k) (congrats!), are you planning to just live off the annual returns and preserve the entire principle for your kids, or is your plan to live very well and spend down a good amount of the principle? If you do plan to live off the returns, how much did you save?

DH and I just retired (both 55) and are predicting a 33-year life expectancy in retirement. We’ll withdraw 3% this year, all pre-tax, and then index that amount for inflation / COLA every year after. Don’t expect to have anything left at the end. We’re even planning to sell our house and use the proceeds to take a few extravagant around-the-world cruises to make sure our kids won’t be able to inherit anything from that.

We currently have $16M and plan to withdraw $480K this year, $495K in 2025, $509K in 2026, etc… This replaces about 75% of our working years’ HHI (was $622K last year), but we’re also not needing to save any more, so hopefully we’ll be okay.

Doesn’t include SS or small pension of $9K per month. Probably just use those income streams for fun money, Starbucks, etc….

Kids are on their own and, quite frankly, by design. We’ve raised them all to be hardworking self-starters. Nothing would be more embarrassing for or offensive to our kids than receiving an inheritance handout, so we do our best to spare them from this – one of life’s greatest signs of failure.

Anonymous wrote:For those of you who have saved at least a few million in your 401(k) (congrats!), are you planning to just live off the annual returns and preserve the entire principle for your kids, or is your plan to live very well and spend down a good amount of the principle? If you do plan to live off the returns, how much did you save?

Anonymous wrote:I plan to spend 4% of it a year. If it's returns, good. If it's principle, good too. Likely I'll end up with a lot left. Maybe not, but who cares, I'll be dead.

Anonymous wrote:I plan to spend 4% of it a year. If it's returns, good. If it's principle, good too. Likely I'll end up with a lot left. Maybe not, but who cares, I'll be dead.

Anonymous wrote:I plan to spend 4% of it a year. If it's returns, good. If it's principle, good too. Likely I'll end up with a lot left. Maybe not, but who cares, I'll be dead.