Originally Posted by Hermitian
What is the minimum you would have to be given to retire today and not work another day in your life?
I am young (mid30s), have young kids, live in a high cost of living area, and am pretty conservative about risk.
I did the spreadsheet math and my figure would be $3.3 million.
My Assumptions:
1. The investment will grow (on average) 4% a year
2. For the first year I get to withdraw $102,300 (~3% of investment)
3. Because of inflation, each subsequent year, the withdraw amount is increased by 2%, until age 65 where the increase will be only 1%, until age 75 where the increase will stop (at $189K).
I run out of money at 97.
