How Long $1 Million Will Last in Retirement in Every State

[BNA/LION]

Some interesting Information Here:


http://time.com/money/5017751/how-lo...n-every-state/

[tbonesteak]

$1MM, 17 years in NY... Where do I sign up for that?

[Etschell]

Originally Posted by tbonesteak

$1MM, 17 years in NY... Where do I sign up for that?

olean ny.

[tbonesteak]

Originally Posted by Etschell

olean ny.

Well how about that, just learned something new.

Olean (/ˈoʊliːæn/ ᴏʜ-lee-an) is a city in Cattaraugus County, New York, United States. Olean is the largest city in Cattaraugus County and serves as its financial, business, transportation and entertainment center. It is one of the principal cities of the Southern Tier region of New York.

The city is surrounded by the town of Olean and is located in the southeastern part of the county. The population was 14,452 at the 2010 census.

[Forum-Dweller]

$1M living in TRF will only last 6 months.

[SevenWays]

1 mill gives you $50,000 per year, never touching the principle. Lots of people live very well on that so take this article with a grain of salt.

[Masteryacht]

Originally Posted by SevenWays

1 mill gives you $50,000 per year, never touching the principle. Lots of people live very well on that so take this article with a grain of salt.

Under normal circumstances, but not during ZIRP. How do you safely get 5% per year without the risk of losing principal? Just like last week, GE halved it’s dividend overnight.

[tbonesteak]

Originally Posted by Masteryacht

Under normal circumstances, but not during ZIRP. How do safely get 5% per year without the risk of losing principal? Just like last week, GE halved it’s dividend overnight.

While they have also almost halved their stock too.

[68camaro]

Originally Posted by Masteryacht

Under normal circumstances, but not during ZIRP. How do you safely get 5% per year without the risk of losing principal? Just like last week, GE halved it’s dividend overnight.

+1, you are taking risk trying to get 5% per year. May or may not happen, may or may not turn out well. Plus you ever heard of taxes, if you chase yield and run to taxable market DC will want their share.

Plus inflation will eat away your buying power over time. To have same interest income on $1mm in 1995 you need $3mm today.

Even if you can get 5%, try living on $50k after paying healthcare

[Wcdhtwn]

Originally Posted by Masteryacht

Under normal circumstances, but not during ZIRP. How do you safely get 5% per year without the risk of losing principal? Just like last week, GE halved it’s dividend overnight.

That was being predicted weeks before it happened. But until it does you never know. Hopefully the people depending on it for income sold out before the cut. VZ pays a great dividend, as do GM and F. Of course there are others...

[Lange]

Originally Posted by SevenWays

1 mill gives you $50,000 per year, never touching the principle. Lots of people live very well on that so take this article with a grain of salt.

How? Im only getting half of that.

[SevenWays]

Not sure I understand the question. How to get 5% return or how to live on $50,000?

A strongly diversified portfolio can yield an overall return of 5% without too much exposure to risk.

$50,000 goes a long way depending on where you live in a state. For example, consider the difference between Upstate NY and NYC. The overall cost of living for the state is 134, but the cost of living in lots of small towns Upstate is in the low 80s, which is Mississippi-like, the cheapest state to live in. Mostly, that's from the low low cost of housing Upstate. Start adding in tax considerations in retirement and you find that NY is not such a bad place to live in retirement, as long as you stay out of the metro NY area.

So the article is good entertainment and gets people thinking about how and where to live in retirement but should be the beginning of investigation, not the end. That's all I'm saying.

[Lange]

Originally Posted by SevenWays

Not sure I understand the question. How to get 5% return or how to live on $50,000?

A strongly diversified portfolio can yield an overall return of 5% without too much exposure to risk.

$50,000 goes a long way depending on where you live in a state. For example, consider the difference between Upstate NY and NYC. The overall cost of living for the state is 134, but the cost of living in lots of small towns Upstate is in the low 80s, which is Mississippi-like, the cheapest state to live in. Mostly, that's from the low low cost of housing Upstate. Start adding in tax considerations in retirement and you find that NY is not such a bad place to live in retirement, as long as you stay out of the metro NY area.

So the article is good entertainment and gets people thinking about how and where to live in retirement but should be the beginning of investigation, not the end. That's all I'm saying.

I was asking how to get 5%

[kneedeep]

[QUOTE=Forum-Dweller;8055166]$1M living in TRF will only last 6 months.[/QUOTE

[jets]

Originally Posted by forum-dweller

$1m living in trf will only last 6 months.

hahahahahahaha

[Formulansx]

Originally Posted by Forum-Dweller

$1M living in TRF will only last 6 months.

Ain't that the truth!

[Tony64]

Originally Posted by Forum-Dweller

$1M living in TRF will only last 6 months.

^^^ Brilliant!

[bdex75]

Originally Posted by Forum-Dweller

$1M living in TRF will only last 6 months.

Dilly Dilly!!!!


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[socalwatchcollector]

Originally Posted by Forum-Dweller

$1M living in TRF will only last 6 months.

6 months is pushing it

[TheVTCGuy]

Originally Posted by socalwatchcollector

6 months is pushing it

And only about four to a Tumi addict

[USALV]

Originally Posted by Forum-Dweller

$1M living in TRF will only last 6 months.

Exactly

[RW16610]

Interesting stuff, Larry. Thanks for sharing

[Rolex addict]

Just depends on the type of lifestyle you want in retirement. I would have to do something to get banned from TRF. This place makes money fly out of your wallet!!

[rmlovett1]

Originally Posted by Rolex addict

Just depends on the type of lifestyle you want in retirement. I would have to do something to get banned from TRF. This place makes money fly out of your wallet!!

⬆️⬆️⬆️⬆️ Agree

[brandrea]

Originally Posted by Rolex addict

Just depends on the type of lifestyle you want in retirement. I would have to do something to get banned from TRF. This place makes money fly out of your wallet!!

Yep, couldn't stay here long

[Etschell]

Originally Posted by Rolex addict

Just depends on the type of lifestyle you want in retirement. I would have to do something to get banned from TRF. This place makes money fly out of your wallet!!

swatchforums

[HereBeDragons]

You don't have to get pure "income" stocks to get a 5% return. If you've got a million to invest, you should get a return in capital growth of considerably in excess of 5% pa, when averaged out over a few years. Decent growth stocks (or funds more likely) should give you capital growth of an average of 10% - 20% pa over any decent period of 5 - 10 years.

[HK Islandboy]

Originally Posted by HereBeDragons

You don't have to get pure "income" stocks to get a 5% return. If you've got a million to invest, you should get a return in capital growth of considerably in excess of 5% pa, when averaged out over a few years. Decent growth stocks (or funds more likely) should give you capital growth of an average of 10% - 20% pa over any decent period of 5 - 10 years.

After a 10 year long, liquidity-driven rally, I’m personally not so confident that those assertions will play out

The implications calculated in this report for returns across asset classes of prices mean reverting after this period are sobering (and hopefully wrong!!!)
http://www.tramuntalegria.com/wp-con...-Crisis-db.pdf

[Sprta]

Go to any well known mutual fund site and check out the funds who have returned over 5% over a ten year Period. They are not usually high risk funds. And therearea lot of them.
Diversify a million dollar portfolio and its not very difficult to achieve a 5% return.

[playmore009]

I think what I need to do is purchase a lot more watches more I retire. Well don’t call me crazy just yet. What if I buy a watch every two years for the next 24 years? Let’s say it average out to be $10k per watch. That is $120k worth of watches. I can only buy more watches if I sell some from my collection so that it is net neutral.

Realistically, as a couple I think we need $2 millions to live comfortably and also with the assumption that we do no have a mortgage payment.


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