3 ms·
I use a well-regarding money mgmt firm. We run my "number" through a bunch of simulations. It includes two pensions, social security and tax-deferred savings.
by mud_dauber 8y ago
I use a well-regarding money mgmt firm.
We run my "number" through a bunch of simulations. It includes two pensions, social security and tax-deferred savings. The total number today, if you runrate the pension & SS assumptions, is $3.5M and gives me a 95% chance of success going forward.
The only reason I haven't already quit is the chance of pocketing another chunk of change from my current startup. Then I'm gone.
- whitepoplar 8y agoI'm curious, what value do you think a money mgmt firm offers over low-cost brokerages/fund providers like Vanguard?
- mud_dauber 8y agoThe answer is... it depends. Initially they helped us gather the info from >30 years of various accounts, then forcing us to make some assumptions - retirement dates, estimated budgets, and so on. It sounds rudimentary but was still very useful. Longer term: prompt reinvestment of cash; advice on medical insurance planning (we were transitioning from Cobra coverage), whether to pay off selected debts early, and so on.