Retiring With $1,000,000 in Your 60s (Is $1M Enough?)

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Retiring With $1,000,000 in Your 60s (Is $1M Enough?)

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Awesome analysis guys. It's reassuring to be on track or even ahead of the curve for Early retirement at 55 in 3 years. Thanks again!

rayanderson

Depending on the distributions associated with the retirement income you'll have way more than the average median household income from a tax basis, also no FICA.

If from roth acct, then essentially 0% income tax as well as 0% taxed on your SS, so you pay 0 tax, whereas avg household is probably all taxable, so you'd pay effective tax, and FICA. So you're net pay is about 25% higher with roth dist +SS than reg income at 68k.

classics-wzbz

Million per person?...not couple...correct?

doomsdaypreppersofsouthcar

It would be great if you guys went over in-kind distribution so that people don't have to break their stocks or funds.

horroRomantic

I have a question if anyone has time to help :)

I’m 21 and about to begin my first job. I plan on investing a good chunk of my income to growth etfs. The more they go down or plateau, the better, because I can buy them on sale. BUT.

My question is: after holding a growth fund for many many years down the road, what’s the best way to switch over to safer investments? Should I be selling those funds and taking the tax burden on them? Or is there a better way of converting them to value etfs or bonds?

alihakim

If I had a million at 60, I would retire.

garyxyz

Can you do the same analysis only with runaway inflation combined with a 30% asset devaluation?

coleboonecustoms

No buddy, , including you guys, never address the fact that people have SS AND PENSIONS. So do a segment that includes these as well. Just talking 401k does not do much for us older adults.

lights

helpful but the math works the other way too. Like now market down over 10% portfolic takes a big hit.

robfordham

The social security number seems low, I’ll get $36/year and my wife will get $18

jayholiday

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