If you had 2,000,000 could you retire right now?

[Bamaman]

The money goes fast at 12k/month in a nursing home

Yes, but few people living in nursing homes are there more than a couple of years.

We have a huge nursing home locally--just about all women with white hair in wheelchairs. It's like they're a bunch of clones--looking and dressing so much alike. I went there looking for my aunt one day at lunch, and I like to have never found her.

[Bamaman]

Retirees should be looking to withdraw no more than 4% of their total investments per year in order to not outlive their nest egg. And yes, most people can get by with social security and pension with making less than 4% withdrawals per year. The whole ace in the hole is having a house that's paid for.

If you want to read some info on retirement, go on Early-Retirement.Org.

I retired in 2008 and began making $40K withdrawals per year from my IRA Rollovers. So far, I'm up 20% in my investment balances after those withdrawals. I play the stock market semi-aggressively and live a pretty frugal life most of the time. Now if we could just quit traveling internationally, I'd be in good shape.

[wgammill]

Retirees should be looking to withdraw no more than 4% of their total investments per year in order to not outlive their nest egg. And yes, most people can get by with social security and pension with making less than 4% withdrawals per year. The whole ace in the hole is having a house that's paid for.

If you want to read some info on retirement, go on Early-Retirement.Org.

I retired in 2008 and began making $40K withdrawals per year from my IRA Rollovers. So far, I'm up 20% in my investment balances after those withdrawals. I play the stock market semi-aggressively and live a pretty frugal life most of the time. Now if we could just quit traveling internationally, I'd be in good shape.

Thanks for the link. It looks informative, I appreciate it.

[truman lake andy]

How much you really "NEED" is not much $$ at all. How much you "WANT" is a personal choice. I always said all I need is potatoes and fish bait. Biggest issue is not having DEBT, IMO Retired at 56 Lovin IT

[SkeeterStew]

Biggest issue is not having DEBT, IMO

Words to live by

[Bronzebackfive]

I'm 37 with a 14 year old and a newborn. That's 25 years of salary for me at what in making now, not even a question. I'd clean out my locker tomorrow.