Quote:
Originally Posted by HockeyIlliterate
This probably isn't the right thread for this, but how much money do you really need in order to live a decent life?
I figure that, with a paid off house and no kids, something around $40,000 is enough. Assuming you want a 2.75% or 3% withdrawal rate, something around $1.5 million in savings should be sufficient.
And, respectfully, I'd expect most professionals to have at least that much saved up by 50 years of age.
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I find many professionals I know are big spenders. Making a lot of money is no indication of people's ability to save.