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Dec 18, 2024
10:38
:24
am
dYrtbYkerYder
All-American
Rule #1 is a terrible rule that I had never heard before. Ignore that one.
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dYrtbYkerYder
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dYrtbYkerYder
Joined
Sep 27, 2006
Last login
Dec 18, 2024
Total posts
24,761 (159 FO)
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Messages
Author
Time
Can somebody explain retirement math to me like I'm 5?
mudpupper
10:37am
Rule #1 is a terrible rule that I had never heard before. Ignore that one.
dYrtbYkerYder
10:38am
Ignore rules 1 and 3. The second rule is based on the trinity study and 4% is
Baron
10:38am
Your money will still be making money even when you start drawing some out.
O Gaucho
10:39am
SS should be about 40-45K a year for 100K earner +4% gets you to 80% spending.
Ycrazy
10:39am
Unless you're retiring now, I would not count on a dime of SS income.
Cougarclaw
12:00pm
Even if the SS trust completely runs out of money, which it won’t, the “pay as
Junior Deputy
12:07pm
your assumption is that the SS program will stay the same as it is now
Cougarclaw
1:07pm
The program will absolutely stay as it is now unless Congress changes it. Thats
Junior Deputy
1:13pm
Rule #2 is also incorrect. You can make 4% on interest, so it assumes you don't
dYrtbYkerYder
10:40am
it assumes you are making about 8% annually, which is actually a safe bet if
SalmonOfCapistrano
10:42am
to add: the point is you will never run out of money, and will also keep up
SalmonOfCapistrano
10:43am
Wow, I'd LOVE to make 8% annually in retirement but that seems risky.
BleedCougarBlue2
10:49am
If those are your numbers today and you are 65, you can expect to get about $40k
Submariner
10:42am
Rule #1 is dumb. You should anticipate what your retirement expenses will
Buffalo
10:42am
Yes 4%+social security. 3/4% rule assumes life expectancy of 25-30 more years
CougieMcCougFace
10:42am
Also I’ve heard 25X salary at retirement
CougieMcCougFace
10:45am
These rules of thumb are lazy.
jsaskew
10:47am
For retirement math, I suggest working backwards. How much income do you want to
TheNerd
10:50am
Yes, I can (didn’t read body of post). See this quarter? Daddy needs lots of
Nikomedes
10:50am
Don't take retirement money guidance from USA Today.
kccougar
10:52am
You are missing social security that will get you to 70% to 80%
maYbe
10:54am
Just win the lottery, no problems
BYU Grounds
10:55am
First, estimate how much you’ll need to cover your expenses.
Junior Deputy
10:55am
Is it wise to depend on SS at all? Depending on your age I guess.
deejo
10:57am
First rule. You aren't 5. There are so many variables.
BYU71
11:03am
Put at least 15% away for retirement and you will be just fine.
Adwight
11:30am
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