3 ms·
Why would you need $1.5M saved up to retire? Even if you live to 100, that still gives you $42,000 a year assuming no interest at all. Most people are lucky to
by vanilla_nut 4y ago
Why would you need $1.5M saved up to retire? Even if you live to 100, that still gives you $42,000 a year assuming no interest at all. Most people are lucky to pass 80, which means an expected $100,000 per year during retirement.
I know medical bills can be expensive, and of course you need to pay utilities, likely vehicle upkeep, food, etc. but 42 grand minimum per year seems pretty good to me?
- xwdv 4y agoIn the year 2063 42k is probably more like $20k today. Just straight poverty.
- vanilla_nut 4y agoIf you assume housing is taken care of, $20k today isn't bad at all. That's probably about what I spend before housing, and I'm no hermit. Housing blows that up, though.
- theandrewbailey 4y ago> Most people are lucky to pass 80, which means an expected $100,000 per year during retirement. Everyone wants to beat death. Why would anyone plan to burn all retirement savings out by a set date that one could reasonably live past?