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Old 07-02-2019, 07:43 PM
rbroome is offline
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Join Date: Jun 2003
Location: Louisiana
Posts: 3,490
Putting a single number on a complex question isn't going to help much. Especially since the OP isn't picking an age of retirement. The requirement of retiring at 30 with a family is so different from a couple retiring at 67 as to not be comparable.
FWIW-$2 million after a full working career will keep most people in a reasonable lifestyle. Of course a Great Depression or an incurable unusual disease "changes" that-but so would getting run over crossing the street or an asteroid hitting your home town. Planning for everything means doing nothing.

What I want someone to tell me is how to put a number on a defined benefit plan like social security. While one is alive the value is considerable-it will pay over my remaining lifetime almost ⅓ of my living expense. But the value drops to zero the day we both die. My bank account doesn't. Neither does the value of my house. How am I to compare the two types of savings?

To answer the OP, as I predict the future, $1M in market investments along with a normal suite of pensions (like Social Security) and appropriate insurance such as Long Term Care will keep a couple securely in the middle class for their expected lifetime. I hope.