This is super helpful, but I have to admit, I'm FLOORED it is this low. I was trying to reach $121k per year. We live in the state with lowest median home price in nation, will retire with zero debt, and barely need portfolio income prior to RMDs, since social security and wife's pension will largely cover expenses. No 2nd home, very little travel, mostly just spending money on our kids. New Retirement estimates that our taxes will be around $3-4000 prior to RMDs, since our state doesn't tax retirees. If I enter $90k, including taxes into NR, I'm getting 99% Monte Carlo results even if I adjust timing of my death relative to my wife's, portfolio rate of return, etc. I guess I'm just in shock-- we are not HNW, but the sound of $85k is almost too good to be true. I trust Rick's experience and expertise, but this is a radical departure from my thinking up to this point. We'll dial it all in with detailed expense tracking, but it sounds like we have room for error in our estimates.It’s about $85,000 per year in 2024. That’s up about 20% from a few years ago and in line with inflation.
Rick Ferri
Statistics: Posted by scarcely — Fri Aug 23, 2024 7:14 am