Old 09-12-2018, 08:35 AM
  #18  
swaayze
Gets Weekends Off
 
Joined APC: Mar 2005
Position: DFW A320 FO
Posts: 586
Default

Originally Posted by Stimpy the Kat View Post
"

1-2M to retire comfortably ?

Man, ya'll must have Crack habits or another Family on the side. (?)

The discussion is EARLY Retirement, like in your late 20’s or 30's (a typical FIRE goal).

$1-2M would be ok for most of us if retiring after 60 and within 10 years from now or so, AND assuming SS will provide most of what it’s supposed to. But trying to do a 4% withdrawal yearly, and keep up with inflation, over a 40-60 year retirement without considerable risk is very unlikely on (at least the low end of) that range imo.

You have to wrap your head around increasing medical expenses; regardless of lifestyle, aging causes problems. Medicare just isn’t that great or inexpensive. And I’m factoring that some degree of medical assistance (LTC) will likely be required. Either pay large premiums now for insurance or save additional capital to draw down as needed (capital is my plan for now, as I cannot imagine I can get my spouse covered at any reasonable rate given her Type 1 diabetes and associated issues).

$40-80k/yr is doable, but don’t forget some of that will still be taxed. And property taxes, insurance, maintenance and utilities will all continue to increase as well. Tax rates will likely never be lower than today. Etc.
swaayze is offline