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Will a million dollars retire you?

rockytopva

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Hard times when a 54 year old retires with a million dollars and $7,000 a month pension doubting he will have enough to retire on. The basic reply here is that he will have little left by the time society gets through with him...

 

jacks

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Apparently it will easily be enough for person in the article.

"Once you reach age 59 ½, you can start taking penalty-free withdrawals from your 403(b). Using the 4% rule, that adds another $22,000 in pre-tax income, bringing your total pre-tax income to $127,200.
When I add that to the tax estimator, your estimated taxes owed are now $18,196. That gives you an after-tax income of $109,004 per year or $9,084 per month".


That should be enough to eek by.
 
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