"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?"
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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