The reality is, to generate $300,000 a year from your invested capital would take at least $7,500,000 at a 4% rate of return. Therefore, havinga $5 million net worth may not be enough to retire early with kidsin a big city. The family could take on more risk to try and get h...
Do you know what happens when a retiree has to take a Required Minimum Distribution and has a big income tax liability? Do you know what provisional income is? What happens when the market tanks with your clients about ready to retire? What to do you tell them, I am sorry?! You need...
His reasoning reminds me of theSuze Orman spat5 years ago when she argued that nursing homes cost $300k a year. Of course, Suze argued you need a bazillion dollars to retire to pay for a nursing home, while Perkins uses the same argument to push you in the other direction...
“I plan to retire at the age of 57 with a cost of living of $10,000/month, mostly for golf club membership and my wine collection. Society never gave me nothing, and I’ll return the favor.” “We will retire in our 30s to travel the globe, which we estimate will average around...
After 13 years, I just couldn't hack big city work anymore because the hours were too long and the pressure was always intense. That's what happens to average people. We get weeded out. At least I was able to make and save enough to generate enough livable passive income. ...
A Single Premium Immediate Annuity (SPIA) is really the only type of annuity most people should consider buying. Here's why you may want one.
My wife and I hit our financial independence (FI) target number this summer, in our early 40s. We are both professional academics and are currently renting, and we will continue to rent until we actually retire—at which point we will move into one of our current investment properties. I ...
(or semi-retire) quite a few years ago. Nowadays, with investment returns and a few other bits and pieces, I average about 100-120K a month in terms of income. It's very difficult to put an exact monthly figure on it because it fluctuates considerably. It's certainly not a fortune ...
At age 60, if our 401k was heavy on stocks (assumed 7%+ real CAGR), and we had an arbitrary goal of never paying tax at a rate higher than 10%, we might struggle to meet that goal if our 401k value was greater than $600k. (Or $1400k at 12%, or $2600k at 22%.) ...
You want to save enough money to retire as a millionaire. If you could earn 10% with common stocks and if you are going to make a deposit monthly, how much would you have to set aside per month to have $1,000,000 when you are 65? ...