How much money would you need ?

postaldoug · Sep 16, 2004

To have to invest in almost 100% safe stuff, to guarantee yourself about 75k a year for life, age would be a variable. You never work again, as a condition.

Let's set a parameter. You will live to age 80. You won't encounter large medical expenses, unrealistic, but hypothetical.

75k, is good money.

I don't know what interest rate to expect. Draw off of principal, to achieve 75k annually, until 80, at various rates and ages, you die at 80.

You are :

16

25

35

40

45

55

65

70

I'll be surprised if anyone does this math !

2-3 million would seem enough. I think 2 million works fine, for most people, less if managed right !

What would you need ?

Glaken · Sep 16, 2004

Hey Doug,

2 Million would be cool...

I was just thinking last year this time we were all talking about inter-forum fighting, DOS crap, Monday Night Football Contest (What's up with dat?), and squares at Beverly on Monday!!!!

I'll be the first to admitt...I'm a lurker...but I know the Gen, Bucksfan, Wilhelm, Dante...I recognize these posters; it seems there were so many more...were is Will from Hollywood?...

anyway...best of luck to all...stay dry in hurricane alley...and remember this is a community for a few and Yeehaw Junction for others.

G

postaldoug · Sep 16, 2004

Glaken: I don't recall conversing with you previously.

I'm not anywhere near hurricane zone.

As to Will from Hollywood, I'll let him answer that query !

No offense intended, but you may have me confused with another person.

Anyhow, I wish you well !

Doug

LineTamer+ · Sep 16, 2004

Remember to inflate the 75,000/yr. If you dont, and your only 25, that same 75,000 20-30 yrs from now wont get you shit.

If you pick one age, i will run the numbers for you, but not all those.

Tamer

THE SHRINK · Sep 16, 2004

About 2 Million is right on...

wantitall4moi · Sep 16, 2004

As you get older you don't really need as much income. One has to assume that by age 60-65 most people will have paid off their mortgages, unless they have taken out multiple ones, whch is now the American Way.

2 million without any interest whatsoever would last you 26 years on its own. Since one person mention inflation, I would offer my above point, that the inflation rate would not exceed the diminishing need for that amount of income.

At 3% a year, 2 million could last a person 52 years or so depending on how interest was creditted, and how the withdrawals were made. If the withdrawal was made all at once, then the years would be diminished to 48.

So 2 mil at 3% would be enough for the average 30 something to make it to age 80.

bucsfan67 · Sep 16, 2004

Will is no longer with Hollywood, he stepped down....not really sure if he is with another shop or not....but a great guy..

Luckily for us, BJ is the new marketing director for Hollywood, and stops by the forum here to see us, and is easily accessible via email....seems like a real nice guy..