6 ms·
I only watched part of 1, but the answer was “no, you can’t retire on 250k”.
by what 14d ago
I only watched part of 1, but the answer was “no, you can’t retire on 250k”.
- throw0101d 13d agoYes, you can. Or rather some people can. People have to be realistic about what they can save and the lifestyle they need (versus want). Depending on the commitments you had during your working life, you may need as little as 40% of your working income in retirement to have the same lifestyle (as opposed to the 70% number that is bandied about so much).
- fultonn 13d ago> Yes, you can. USA-specific: At ~$38K/year (including SS) you probably need to own a home without substantial deferred maintenance to make it work. So you can retire on $250K but only if you're over 62 and only if you have substantial wealth outside of those liquid assets (so probably a net worth at least 2x your liquid). If you have a spouse also on SS it much easier.