I want to retire at 55, and drive all over the country to all the State/Federal parks.
What should my retirement look like for this to happen?
What should my retirement look like for this to happen?
What should my retirement look like for this to happen?
I want to retire at 55, and drive all over the country to all the State/Federal parks.
I believe Jeff Bezos' ex wife is divorced again. See if the 3rd time is a charm for her.I want to retire at 55, and drive all over the country to all the State/Federal parks.
What should my retirement look like for this to happen?
Assuming no additional information and going strictly by statistics, you'll live an additional 35 years. RV lifestyle will require an RV sufficient to actually live in, whether a towable one and a truck or otherwise. Probably will need a couple over the 35 years. Call it $500,000 cash, and $10,000 annually for fuel and maintenance (forget DIY on the road). Food, lots of eating out. Another $10,000 annually. Average medical, no idea so add that later.I want to retire at 55, and drive all over the country to all the State/Federal parks.
What should my retirement look like for this to happen?
Projected monthly income minus projected monthly expenses. It ain't rocket science.What should my retirement look like for this to happen?
And what’s the matter with either?Vern, what makes you ask this question? On Bitog, we can expect Dave Ramsey type answers and answers saying become a cop or firefighter/EMD. But who are you? And also, be realistic.
I retired at 62 first thing is you payoff everything so that you are debt free. House, cars, RV everything. Then you'd better have a couple million in savings. A good retirement a 401K and a ROTH IRA and oh and affordable health insurance!I want to retire at 55, and drive all over the country to all the State/Federal parks.
What should my retirement look like for this to happen?
You can spend down the principal/nest egg when you get older but if you take 5% per year of the nest egg, the egg keeps getting smaller each year.I come back to needing about $5M, so that when earning 3-5% in safer investments, you can have a reasonable income from the interest.
What you don’t want is an early drawdown, because long term inflation and other factors can create major issues. The earlier you retire, the less reliant on draw down, more reliant on interest/passive income from the assets you should be, imo…
My financial guys tell me that they can only tell me the numbers. They can't determine if I want to work longer and have a nicer/shorter retirement or retire earlier with a more modest retirement. That's up to me to decide. To retire at 55 and live the live of leisure takes a several million dollars.Only you and your financial person can answer that with any amount of validity.
Sure you can. And then the divvy/interest drops, so it accelerates the drawdown. A self-perpetuating issue.You can spend down the principal/nest egg when you get older but if you take 5% per year of the nest egg, the egg keeps getting smaller each year.