IronWing
No Lifer
- Jul 20, 2001
- 68,850
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Originally posted by: blackangst1
No, not for retirees. Again. 2mill when we retire will pay you 45-50k/yr for about 20 years. That is NOT rich.
Not to detract from your point but your numbers are off. Assuming you retire at 65 and you expect to live 20 more years, $2mill should be plenty and you should be able to spend more than $50k/year, a lot more.
I like this planner for doing the calculations.
http://cgi.money.cnn.com/tools...irementplanner_101.jsp
Even with a conservative investment strategy it looks like you could spend ~$140,000/yr and have the money last.