Quote:
Originally Posted by Tandum
Using my simple maths, That much cash would only last about 15 years at 50K/year. Am I missing something?
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You missed that the savings also earn money.
Just sticking the money in a boring long term deposit account, you can get 5% and then your savings are earning $40k a year.
Quote:
Originally Posted by Tandum
I've been told that $800K is plenty for retirement at 55.
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Depends if you just want to sit at home watching TV eating baked beans or do something with your retirement.