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SVTPerformance's Chain of Restaurants
Road Side Pub
Q & A - Ask a financial advisor
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<blockquote data-quote="ON D BIT" data-source="post: 15853855" data-attributes="member: 10422"><p>Remember most retired people will have less expenses. No college to save for, no rent or mortagage as their house should be paid for(just property taxes/insurance/hoa fees), you don’t have to put away a portion for retirement etc. Plus your retirement could be taxed less if you paid your income taxes on it going into retirement. Normally a $75k salary only nets one $55k or less. </p><p></p><p></p><p></p><p>I don’t understand this. At a million dollars, the interest earned with this retirement investment should give someone conservatively 5-8% after fees. That would mean at least $50k a year in income without touching the $1 million principal.</p></blockquote><p></p>
[QUOTE="ON D BIT, post: 15853855, member: 10422"] Remember most retired people will have less expenses. No college to save for, no rent or mortagage as their house should be paid for(just property taxes/insurance/hoa fees), you don’t have to put away a portion for retirement etc. Plus your retirement could be taxed less if you paid your income taxes on it going into retirement. Normally a $75k salary only nets one $55k or less. I don’t understand this. At a million dollars, the interest earned with this retirement investment should give someone conservatively 5-8% after fees. That would mean at least $50k a year in income without touching the $1 million principal. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Q & A - Ask a financial advisor
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