If you dont have a milly by retirement and paid off house, you [bleep] up or got screwed along the way (cancer). Especially anyone retiring now. You had it damn good.
Using the 4% rule that's $40K/year today. Not much unless there is a pension in the mix. Of course social security will help. Twenty years from now?
40k a year with no debt is a lot and easy to live on. In the future this will be almost impossible to achieve.
Thanks boomers.
I don't know, I'm not sure I could live like I'd want to on $40K/year. Without factoring in mortgages or vehicle payments my expenses are about $2500/mth or $32,250/year. Doesn't leave much for vacations, fishing tackle, whiskey and beer...
