03-11-2023, 07:11 PM
(03-09-2023, 02:29 PM)ss20ts Wrote: Or one could be a productive member of society. There's no way one can live on $380K for 50 or more years.
The rule of thumb that I have always heard is to try to take around 4%-5%/year from your retirement funds when you retire. Even with conservative investments, you should be able to do a little better than 5%/year, thus making your money last longer and helping to offset inflation.
5% of $380k is $19,000. Good luck living on that. Hope you never get sick.
Also, this person likely does not have 40 quarters worked, so will not be eligible for Social Security.
Master of Accountancy (taxation concentration), University of Texas Rio Grande Valley, in progress.
Master of Business Administration (financial planning specialization), University of Texas Rio Grande Valley, in progress.
BA, UMPI. Accounting major; Business Administration major/Management & Leadership concentration. Awarded Dec. 2021.
In-person/B&M: BA (history, archaeology)
In-person/B&M: MA (American history)
Sophia: 15 courses (42hrs)
Master of Business Administration (financial planning specialization), University of Texas Rio Grande Valley, in progress.
BA, UMPI. Accounting major; Business Administration major/Management & Leadership concentration. Awarded Dec. 2021.
In-person/B&M: BA (history, archaeology)
In-person/B&M: MA (American history)
Sophia: 15 courses (42hrs)
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