<p>Didn’t dadII say he wanted $10 million. :)</p>
<p>I understand. </p>
<p>busdriver, how close are you to $10 million?</p>
<p>Put it this way, GP, I’m closer to 0 than to 10 million. But it’s doable if we retire at 60, if things go as planned. Then again, when do things ever go as planned?</p>
<p>Are you hoping for the mother of all bull markets for the next ten years?</p>
<p>That would certainly help…</p>
<p>But I thought 10 million is dirt poor according to somebody.</p>
<p>Yeah, that’s probably begging level according to some people. Oh, you mean THAT somebody. I thought it was 100 million. Or was it 10 million is dead broke? Okay then, I want to retire when I’m that kind of dead broke!</p>
<p>I guess I am dead, dead broke!</p>
<p>Probably in need of a lot of govt assistance.</p>
<p>That’s an idea worth exploring</p>
<p>Though unfortunately, the type of assistance you’ll be getting is getting relieved of more of your money. I’m sure it’s such a burden, you would feel so much better with less of it.</p>
<p>Anything to help my fellow man</p>
<p>
What you should really be hoping for is a bear market for the next 9 years and 11 months, followed by a bull market, if you intend to accumulate for the next ten years. Buy low is as important as sell high. </p>
<p>Re a number: my wife’s boss, many years ago, said that he needed $20 million LIQUID to retire comfortably. Liquid, not net worth, and that was when a million was money 
</p>
<p>It convinced my wife that she should earn more. We don’t need $20M but have enough already that retirement is possible. My wife still enjoys her work (although she does like to gripe about it :((), and we don’t mind adding to our assets for another few years. One kid in college next year, another in two years. </p>
<p>A number for everyone doesn’t exist. Estimate your retirement expenses, subtract SS and pensions, and have 30x that in investments (to fund a ~3% safe withdrawal rate). Everything hinges on a good estimate of your retirement expenses. </p>
<p>^ I love IxnayBob’s down-and-dirty 30x net expenses estimate. But I have a question for those of you who are good with the math – how much would one need in order to generate $80,000/yr, increased annually for inflation, in perpetuity? (It would be nice not to worry about longevity…) Obviously one would still need to employ some guesswork for rates of return, and inflation. Historical averages, perhaps?</p>
<p>I use your method, dstark, which says we are still shy of our retirement goal. DH though expects investments to grow at a decent rate and thinks we are fine to retire. He is young, but still talks about retiring soon. He’ll work just as hard- just wont get paid for doing it :(</p>
<p>^For that, I borrow Fidelity’s annuity calculator. You can put in $80,000 annual income inflation adjusted. You can also choose to cover your spouse and either choose the number of years you live or end of life.</p>
<p>This may sound bad, but we spend a lot more than that a year…</p>
<p>Jym626, :).</p>
<p>Walkingtessie, multiply 80,000 by the years you expect to live if your after tax returns equal inflation and then multilpy by 2.3 if inflation is 3 percent a year…</p>
<p>So if you think you need Retirement for 30 years…</p>
<p>80,000x 30= 2,400,000 x 2.3= 5,520,000</p>
<p>200,000x 30= 6,000,000 x 2.3 = 13,800,000</p>
<p>These are my guesses…:).</p>
<p>Nobody lives in perpetuity.</p>
<p>When my 91 year old grandmother was dying, less than a year to live, she bought an annuity because she was worried about out living her money.</p>