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Thursday, December 8, 2011

365QOD-Day309

"I can't retire.  I will have to work till the day before I die"- what most people believe

I read a recent USA Today article.  In it the article there was a table:
Assuming a 5% initial withdrawal rate
To get this much income                         you need
25000                                                    500,000
35000                                                    700,000
45000                                                    900,000
55000                                                   1100,000
65000                                                   1300,000
75000                                                   1500,000

So a million will give you about 50k worth of income.  For every 25k above you need an extra 500k.

Today's question is:
"How close are you to your desired retirement salary?"

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