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I spoke the other day about rich people whingeing that they don’t have enough to retire in luxury. In today’s news there is a 67 year old man who hates his job and wants to retire. However the poor thing only has $700K saved up. This only gives him $28K a year in interest. sadness Poor old dear still hasn’t paid off his mortgage so how will he manage on that?

How the other half live.

  • RION [she/her]@hexbear.netEnglish
    7·
    8 days ago

    4% rate of withdrawal is supposed to be “safe” for 30 years, but that’s only a 90-95% chance. So based off that around 1 in 10 or 20 people end up with nothing but social security even before the 30 years is up