Quote:
Originally Posted by myselff77
Appreciate the detailed response from both you and GD. Interesting to hear your experiences on a topic that isn’t discussed enough.
I had never heard the 25x salary rule of thumb though it does seem right around the minimum target I kind of have in the back of my mind. Out of curiosity, how close was that estimate to the detailed spreadsheet you worked out? Seems like 25x salary saved should allow one to live pretty comfortably on interest/growth alone without ever touching much of the principal?
|
In my case 25x was conservative. It was enough to cover me to the age of 100 or older. I was using the 4% rule to get the 25x number, and I was a little worried that inflation would chew me up But that wasn't the case, at least according to normal assumptions.