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Is 2 Million Dollars Enough To Retire At 61 Years Old?

Health Insurance topics including Obamacare & Health Insurance quotes

Is 2 Million Dollars Enough To Retire At 61 Years Old?

Postby Eamonn » Mon Sep 25, 2017 12:49 pm

Yes.. Why do you need to spend $70,000 per year when your biggest debt (home) is paid off..Take Care
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Is 2 Million Dollars Enough To Retire At 61 Years Old?

Postby Brook » Tue Sep 26, 2017 6:28 am

You can get 5% to 5.5% in dividend if you put money in AT&T stock. They have maintained or increased the dividend for the last 30 years. It's a stock and it can move up and down, the company can go under. But if AT&T goes under then US economy and other companies will be in terrible shape too.

so on 2M you should be able to get 100K/year in dividends and it is taxed at 20% rate!! Plus you will get some money from social security at 62.
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Is 2 Million Dollars Enough To Retire At 61 Years Old?

Postby Rumenea » Thu Sep 28, 2017 11:55 am

Sounds like enough to me if you don't live extravagantly
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Is 2 Million Dollars Enough To Retire At 61 Years Old?

Postby Mccoy » Fri Sep 29, 2017 2:49 pm

You may want to consider according to a Kiplinger Retirement Report article in the April 2013 issue that suggests a withdrawal rate of 2.8 percent for a retirement period of 30 years due to the low interest rate environment existing currently.
If your life expectancy is 91, the fund would need to be at least 2.5 million to meet your annual spending of $70,000.
Also your estimate for health care and long term care insurance may be too optimistic that those premiums will not dramatically increase in the future.
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Is 2 Million Dollars Enough To Retire At 61 Years Old?

Postby Frasier » Sat Sep 30, 2017 3:44 am

sure
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Is 2 Million Dollars Enough To Retire At 61 Years Old?

Postby Lemmy » Tue Oct 03, 2017 2:59 am

Not really.
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Is 2 Million Dollars Enough To Retire At 61 Years Old?

Postby Isaiah » Mon Oct 09, 2017 5:23 am

I guess it depends on how well you expect to live.
I could certainly retire on $2 million, but I wouldn't spend nearly $70k/yr.

Also, have you checked into what private health insurance will cost for a 61 year old person?
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