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When Do Say I Won And Go To Safety?

alan1
  |     |   881 posts since 2015

I certainly do not have an answer to your question. But here are a few things that are worth taking into account.

If you are currently spending $100,000 per year, the odds are that you will have to spend more than that amount annually to maintain your current standard of living for the next forty years.

If you live to 100, it's very possible that your expenses could significantly increase if it becomes increasingly difficult to do things that you can now do on you own. And that's not just a concern for what happens if you move to an assisted living or other facility. Even if you're in good shape at age 95, you may need a certain amount of assistance to manage daily chores.

There are numerous online calculators where you can plug in different scenarios re your assets, your non-investment income, your expenses, rate of return, etc. and see what happens. I'd suggest you use more than one calculator -- when I played around with them, I got very different results.

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jamesstewart
  |     |   64 posts since 2011
I have been retired since 1998 and have had all my funds in CD's or Treasury Bonds and no debt. It has been great to not have to worry about losing principle through all the market turbulence as well as being able to plan a stable income. Worst case scenario these days is low to no yield. My plan is simply divide the principle by how many years I expect to live and plan on spending under that amount plus pension income annually. Any investment income is gravy to offset inflation or unplanned expenses. I can always downsize and cut expenses if needed. No debt and safe investing makes a nice retirement. I use insurance to minimize unplanned liabilities.
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JWARREN
  |     |   69 posts since 2017
Shouldn't ignore taxes when deciding that you've accumulated enough. A million dollar regular IRA isn't quite the same as a million dollar CD.
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Choice
  |     |   937 posts since 2020
If you don’t know now you’ll never know...and your children and grandchildren? Suggest you start by reducing your expenses...without controlling them you’ll never win or have enough!
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