Anonymous
Post 07/30/2021 23:03     Subject: How much would you want to retire at 50?
Anonymous wrote:We have 1.5 million in retirement funds, $500k in the market, one kid kn college the other starts next year, and we have enough in 529s to cover both. House paid off, worth, conservatively, 1 million.

We have an 7 year age difference, 52 and 59 and don't think we will have enough when the main breadwinner, who is older, hits 65, because that is still 7 years of health care coverage for the other.

We have to wait until the younger spouse is 65, or for the govt to lower the age for medicare or for the govt to fix Obamacare so that it isn't so many thousands per month plus a high deductible.

If we had 5-6 million, we'd feel more comfortable retiring when youngest graduates college and older spouse is 64


You can borrow (your kid can) for college, but you can’t borrow for retirement.
Anonymous
Post 07/30/2021 23:00     Subject: How much would you want to retire at 50?
Anonymous wrote:$5M invested at 3% per year will give you a $200k distribution for 40 years.


Remember that’s pre-tax. If you’re living off of non-qualified investments, they can be managed to limit the tax hit, but qualified investment withdrawals are all taxable as income, even if there’s no withdrawal penalty.

For us the number was $5 million, but we had small pensions and were on FEHB in retirement. I’d go for $7 million without that.
Anonymous
Post 07/30/2021 22:43     Subject: How much would you want to retire at 50?
$5M invested at 3% per year will give you a $200k distribution for 40 years.
Anonymous
Post 07/30/2021 21:10     Subject: How much would you want to retire at 50?
We have 1.5 million in retirement funds, $500k in the market, one kid kn college the other starts next year, and we have enough in 529s to cover both. House paid off, worth, conservatively, 1 million.

We have an 7 year age difference, 52 and 59 and don't think we will have enough when the main breadwinner, who is older, hits 65, because that is still 7 years of health care coverage for the other.

We have to wait until the younger spouse is 65, or for the govt to lower the age for medicare or for the govt to fix Obamacare so that it isn't so many thousands per month plus a high deductible.

If we had 5-6 million, we'd feel more comfortable retiring when youngest graduates college and older spouse is 64
Anonymous
Post 07/30/2021 20:14     Subject: How much would you want to retire at 50?
I can't get any sense of what your annual spending will be based on the information here. What's your monthly budget now, and what will go away from it or be added to it in retirement?
Anonymous
Post 07/30/2021 19:51     Subject: How much would you want to retire at 50?
Anonymous wrote:
Anonymous wrote:Chronic pain for one spouse and risk of age related blindness for the other. Not life threatening, but life draining. Desire to make use of these bodies while we are able. Not big travelers. Mostly want to putter around and work on hobbies.


If it's macular degeneration, there are shots now for I think the dry version to preserve vision, or at least extend vision. But you'll need good insurance for those.

I would total up what you think your expenses reasonable would be and multiply that by at least 40.


+1 Even the eyedrops can be expensive, even with insurance. I would research this in detail.
Anonymous
Post 07/30/2021 19:42     Subject: How much would you want to retire at 50?
You blind fool
Anonymous
Post 07/30/2021 08:06     Subject: How much would you want to retire at 50?
Anonymous wrote:There are so many of these threads, why create a new one?


and I was just going to create a new "how much would you want to retire at 49?"
Anonymous
Post 07/30/2021 07:56     Subject: How much would you want to retire at 50?
There are so many of these threads, why create a new one?
Anonymous
Post 07/30/2021 07:28     Subject: How much would you want to retire at 50?
You are in poor health - relative to your age.
Anonymous
Post 07/29/2021 22:24     Subject: How much would you want to retire at 50?
Anonymous wrote:Chronic pain for one spouse and risk of age related blindness for the other. Not life threatening, but life draining. Desire to make use of these bodies while we are able. Not big travelers. Mostly want to putter around and work on hobbies.


If it's macular degeneration, there are shots now for I think the dry version to preserve vision, or at least extend vision. But you'll need good insurance for those.

I would total up what you think your expenses reasonable would be and multiply that by at least 40.
Anonymous
Post 07/29/2021 21:22     Subject: How much would you want to retire at 50?
We are 46, abd DH would probably quit if we had $10m at 50.
Anonymous
Post 07/29/2021 21:18     Subject: How much would you want to retire at 50?
Chronic pain for one spouse and risk of age related blindness for the other. Not life threatening, but life draining. Desire to make use of these bodies while we are able. Not big travelers. Mostly want to putter around and work on hobbies.
Anonymous
Post 07/29/2021 21:16     Subject: How much would you want to retire at 50?
Yeah that sounds about right to me, 5-6 million. If I have to pay health insurance from 50-65, which is probably 15-20k a year.

Probably depends on what the health issues are to be in good health and not excellent. Also I think your travel budget sounds low by at least 1/2.
Anonymous
Post 07/29/2021 21:11     Subject: How much would you want to retire at 50?
Assume DC area living for a married couple with no kids at home, a paid off mortgage, and a modest travel budget of $6,000 per year. No pension, no access to employer health insurance. Good, but not excellent health. SS eligible with combined PIA around $4k/mo at FRA. What would you feel safe as a retirement number? $5M? $6M? May be in this position due to inheritance and wondering what would be a safe figure?