Actually, I do. Unless you adjust the way you live, you will be living off of 1/4 of the money you were bringing in originally. Hence SS...DBTrek wrote:
Like you’d fucking know.
Mr. Money Beard can tell you how to retire on half that.
But he’s actually a practitioner, not an armchair philosopher.
If you want to have an income beyond bare minimum you will have to be financially savvy about saving up and putting it in a place that will not have double taxation. If you don't your income will be cut again upon withdraw, and in that case, you will be losing another 10 to 25% off the top.
So a million dollars for retirement is not a lot of money. At a bare minimum of 5% profit, you are looking at 50K a year profit, which is good, you could do 500K... and in turn, cut that in half...
So yeah, let's be real, if you have a family, living off of a Million for the rest of your life, you can do it, if you don't spend beyond a specific extent for when the market is down, your nest egg won't be as strong.