Anonymous wrote:

Anonymous wrote:

Anonymous wrote:$3M is not enough at 52. You need $10M because of healthcare costs.

Patently ridiculous. You're basically saying no one can retire.

I think he's saying at 52 you are going to need more since that will be 13 years of ACA.

10 or so years of health insurance isn’t $7 million.

Heck you could not even have insurance and likely spend one million baring terminal cancer.

Anonymous wrote:

Anonymous wrote:$3M is not enough at 52. You need $10M because of healthcare costs.

Patently ridiculous. You're basically saying no one can retire.

I think he's saying at 52 you are going to need more since that will be 13 years of ACA.

Anonymous wrote:$3M is not enough at 52. You need $10M because of healthcare costs.

Patently ridiculous. You're basically saying no one can retire.

Anonymous wrote:Absolutely. I need $3m to cover my personal expenses and my share of kids' expenses, net of home equity, college savings, and DH's stash (we have separate finances for circumstantial reasons). I have a stressful job like one of the ones OP cited, and I'm out when I hit my number period. DH will probably work until he dies because he's an overspender and has chosen to support his parents.

Ha! you are going to be supporting your DH since he didn’t save. That’s why separating finances because you’re married to an over spender rarely works. You’re just avoiding doing something about the problem. Then retirement comes and you have to face the music.

Absolutely. I need $3m to cover my personal expenses and my share of kids' expenses, net of home equity, college savings, and DH's stash (we have separate finances for circumstantial reasons). I have a stressful job like one of the ones OP cited, and I'm out when I hit my number period. DH will probably work until he dies because he's an overspender and has chosen to support his parents.

Anonymous wrote:$3M is not enough at 52. You need $10M because of healthcare costs.

13 years of private insurance isn't going to cost $10m. I have been paying private insurance for 15 years and it runs around $30k/year for 2 people in their early 60's. So not nothing but not millions either.

Anonymous wrote:$3M is not enough at 52. You need $10M because of healthcare costs.

Wow!

.5% of all Americans will be able to retire.

Anonymous wrote:also what is the inheritance after tax

No tax at the federal level (doesn’t kick in until $15m) and likely none or small at state level (MD is $5m threshold). The estate pays the tax so if OP says she’s inherited $3m presumably that’s after and taxes have been paid.

Personally I wouldn’t stop working but our expenses are higher and I don’t want to cut them back.

LOL at the idea of 'scraping by' on 200k. That's almost 4 times the average salary in this country. And most people still have to pay a mortgage and a car note.

Liars and delusional fools fill this site.

In a nano second.

I'm 53 too actually. In the last year, of my HS friend group, one guy dropped dead of a rare cardiac event, one guy was diagnosed with glioblastoma, and one woman's husband was diagnosed with ALS. Death and misery is just one phone call away.

I would become a master fly fisherman (or, more realistically make efforts to that end). I'd hike all 500 miles of the AT in SNP. I'd take each of my children on travel to wherever. I'd learn to weld. I'd build an off grid 20x20 cabin on land in Rappahannock County and about 1000 other things I'd rather do then the completely meaningless work I do for money.

Live your life. Do it.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:200k would not cut it for me. I would have to make drastic changes to my life style that would not be worth it. I think OP should keep working. 3 million is not a big inheritance by any means.

What do you spend your money on? Also are you planning to be a granny decked out in Fendi?

Unless you’re extremely wealthy (OP is not), requiring more than $200k doesn’t make sense. Even if you’re making closer to $750k - million a year, the vast majority of that money is going to your mortgage, college savings, childcare and taxes.

Your taxes will decrease substantially, there is no mortgage, college is paid for and no childcare.

+1. $200k plus other income plus eventual social security goes very far when you don’t have a mortgage or college expenses and health insurance is covered. I would definitely pull the trigger.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:200k would not cut it for me. I would have to make drastic changes to my life style that would not be worth it. I think OP should keep working. 3 million is not a big inheritance by any means.

What do you spend your money on? Also are you planning to be a granny decked out in Fendi?

Do you not have normal living expenses? My kids are still in HS and MS, but I fully expect college to cost at least $1m.

Send those rascals to community college

$3M is not enough at 52. You need $10M because of healthcare costs.

also what is the inheritance after tax