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Don't take financial advice from anyone here. The problem is not the advice given... But that you have not provided enough information or inputs into the calcul
by anonu 6y ago
Don't take financial advice from anyone here. The problem is not the advice given... But that you have not provided enough information or inputs into the calculation.
How old are you?
Where do you live?
What are expenses and costs where you live?
Do you have other sources of income?
You should hire a financial advisor or planner versed in these matters. More than anything they are behavioral coaches who will tell you what you can and can't do.
You should build an annuity calculator in a spreadsheet and add conservative growth assumptions and agressive spending assumptions where you may have unexpected medical expenses for example.
- Scoundreller 6y ago> You should hire a financial advisor or planner versed in these matters Around here, 99% of them are terrible and will cost 2% of NAV, which is massive when we’re talking about 4% annual draws. And they won’t recommend moving away when you should, because they’ll lose you as a customer. And the #1 thing here is that OP probably needs to move to make this goal work.
- mchusma 6y agoAgree with parent. Financial advisors are basically never worth it, for a bunch of reasons, including: -cost is very expensive -none can beat the market, because if they could they would be hedge fund managers or something that makes 100x -their incentives are misaligned with yours. (Not to be too negative, financial advisors can make sense in some circumstances if the person really needs an expensive person to make sure "they don't blow it on something dumb")