Personal Investments • Newbie Do we have enough to retire and how

Combined SSI: $3000

In fall we will have a combined $1mil from the above in cash when the house sells. Will we be able to retire and how should I invest this?

Husband 73
Me 68

It all depends on how much you spend, including taxes and medical expenses.

As a crude first-order guess, 4% of $1M is about $40K per year, i.e. about $3300 per month. Therefore if your expenses are no greater (on average) than $3300 + $3000 = $6300 per month, you should be OK.

But:

What about possible increased expenses near end of life (e.g. nursing home)?

What if the Worst Times Ever (or at least since 1870 or so) are just around the corner, which would invalidate the "4% rule"? (Do a forum search, top right of this page, for "4% rule", to see a lot of hand-wringing about this issue.)

Statistics: Posted by 22twain — Mon Jun 03, 2024 1:17 am — Replies 1 — Views 235

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