Half a million will do. I do need that easy part time job I would enjoy though.

$7m

OP here with an update. Inheritance all settled and part of that was college funding for the grandkids so my college freshman (only child) is set. Our net worth is now $8m—$7.2M invested assets and a paid off $800k townhome. We are both 50. HHI about $300k between us. Saving 30% of that annually. Living on $125k/year the last three years. I feel paralyzed.

Anonymous wrote:I didn’t want to retire at 50 because I had kids in high school and I had no desire to hang around with 70 year olds. At 50 I had the money to retire but I enjoyed my work so I worked until 60 at which point my net worth had more than doubled from what it was at 50.

I envy people who enjoy work as much or more than other outside hobbies and interests..great way to make money while you also do what you love the most. For us, daily walk/hike, kayaking, traveling, nature photography, painting/sculpting, etc. beats a day of the office hands down.

I didn’t want to retire at 50 because I had kids in high school and I had no desire to hang around with 70 year olds. At 50 I had the money to retire but I enjoyed my work so I worked until 60 at which point my net worth had more than doubled from what it was at 50.

Anonymous wrote:So much bragging on these forums. Do you people have any idea how much more fortunate you are than the typical American, who in turn is more fortunate than most people on the planet?

https://www.businessinsider.com/personal-finance/average-american-net-worth

If everyone looked "below" them for aspiration, no one will want to buy the iphone 13. Apple will go out of business (and so will a lot of other companies). Stock market will crash, jobs will be lost and you will sure as hell join the ranks of those "below" you.

[vimeo]

Anonymous wrote:

Anonymous wrote:6-8m + pension. Which we have due to our hard work. Life is good . Early 50s. 😁

Plus we already have healthcare funded for life. 😁

consider your back patted.

Anonymous wrote:So much bragging on these forums. Do you people have any idea how much more fortunate you are than the typical American, who in turn is more fortunate than most people on the planet?

https://www.businessinsider.com/personal-finance/average-american-net-worth

yes, we feel fortunate, especially given how I grew up a poor immigrant, and my parents were super poor in their home country. One even had to escape communists; was a refugee for a while as a teen; went hungry; almost died.

Yes, indeed, we feel super fortunate.

Not OP.

Anonymous wrote:So much bragging on these forums. Do you people have any idea how much more fortunate you are than the typical American, who in turn is more fortunate than most people on the planet?

https://www.businessinsider.com/personal-finance/average-american-net-worth

jeez .. it's an anonymous forum.

I will be about 55 when we retire in a few years. Hopefully with 3mil in just retirement account; about $350K in other investments. Not counting the house which has a nw of about $1mil.

We pay for private insurance now. Older spouse is 57 now. Family of four - we pay $1100/mo. for a high deductible plan in MD.

529 funded to about $160K (that's the goal). As a pp stated, one can always borrow for college, but not retirement.

We will also max out on SSI when we hit 62. We can live off of $150K gross per year.

I ran the numbers on firecalc and also talked to our financial advisor.

Anonymous wrote:So much bragging on these forums. Do you people have any idea how much more fortunate you are than the typical American, who in turn is more fortunate than most people on the planet?

https://www.businessinsider.com/personal-finance/average-american-net-worth

Why would you compare against average Americans? Average Americans are almost broke, living paycheck to paycheck. It’s delusional to think they’re still better financially than the rest of the world.

So much bragging on these forums. Do you people have any idea how much more fortunate you are than the typical American, who in turn is more fortunate than most people on the planet?

https://www.businessinsider.com/personal-finance/average-american-net-worth

Anonymous wrote:6-8m + pension. Which we have due to our hard work. Life is good . Early 50s. 😁

Plus we already have healthcare funded for life. 😁

6-8m + pension. Which we have due to our hard work. Life is good . Early 50s. 😁

6M could work but it will be key how the first few years goes. Many retirements derailed with a bad start. I'd want to downsize my spending from the very beginning just to add in a cushion.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:$5M invested at 3% per year will give you a $200k distribution for 40 years.

shouldn't the math be $150k per year?

No. You continue to invest at 3% with your balance going down. You can calculate this with a financial calculator app.

The best I was able to calculate is 5.5mm with an ROI of 3% with inflation at 1%.

I could get basically the same results with 5.5mm with an ROI of 4% (not unrealistic) with inflation at 2% (more realistic).