Originally Posted by
Excargodog
Based on a 20 year life expectancy at age 65, the difference in your standard of living will be $20,000 a year.
if you are conservative in retirement you will initially only be taking out 4% per year from your $3million so, yeah, that’s potentially the difference between living on $120,000 a year or $140,000 a year. I know which I would prefer.
I was using back of the napkin numbers and came up with 16000 less a year at 4% withdraw vs having an unhappy wife... we all should be socking away a lot more than 3 mil as well. Some of our guys are still going to be in some of the highest tax brackets just from MRD's. It ultimately comes down to personal choices but I think if I absolutely had to I could reduce expenditures or make more money to make up for the 16000-20000 a year.