We can't plan our date of death. We will either have too little money and become a burden - or - too much money and leave a legacy. The later is the better choice.
We can't plan our date of death. We will either have too little money and become a burden - or - too much money and leave a legacy. The later is the better choice.
We are not even trying to get it right. Ideally, if we don't run into medical or other unforeseen expenses, we will not draw down our portfolio by much, if at all. Our adult kids will likely have difficulty saving for their own retirements. We will be happy to help when the time comes.
I propose a new paradigm.... the CWR for Calculated Withdrawal Rate (which can be negative BTW) You specify the size and trajectory of your after tax income (living costs) and the CWR is calculated based on inflation, ROR estimates, salary profile, taxation rules, entitlements, cash windfalls, and estate goals. Easy-peasy.
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