Quote:
Originally Posted by Rain Man
A 4% drawdown on $1 million is $40,000 a year. And with inflation, it'll have the buying power of $20,000 in 20 years. I think people need a heck of a lot more than $1 million these days.
I'm quite envious of my friends who are in government or military jobs. They're retiring early with no uncertainty while the rest of us have to save like crazy and also plan for the worst case scenario. I should've joined the military when I got out of college.
The biggest change in society over the past 30 years has been the elimination of pension programs. We're all going to learn a hard lesson about that during the next 30 years.
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3-4% draw down rate, 3% early on if you can take it.
It can work provided you have no other debt and don’t take on anymore. You still would need 40-50% invested in stocks as well. And as I said, it would pay bills and you’d be ok, but don’t think it will have you living luxurious.