My wife thinks we need 30 mil to retire
is she crazy? we spend about 100k a yr including mortgage payments. no other debt. our kids 529 well funded.
Trending Content - Investment Banking Forum
| +305 | Is UBS really that bad? | 59 | 3m |
| +272 | Analyst: Why is UBS IB doing worse than peers?, UBS CFO: No Comment | 41 | 2d |
| +258 | Investment Banking is Divine | 40 | 1d |
| +219 | Another $115bn Mega deal for these banks. Congrats! | 45 | 1d |
| +216 | US 2027 SA IB worried about background check | 53 | 1d |
| +206 | Leaked Interview Questions to Recruiting Services | 68 | 2d |
| +40 | Is Houston SA 28 recruiting already over? | 34 | 1d |
| +31 | How do you manage nerves in IB technical interviews? | 7 | 12h |
| +27 | FIG Pigeonholes you - is it true? | 8 | 2d |
| +27 | 2026-27 IB Energy Top Banks | 8 | 1d |
Career Resources
How far are you from finishing your entire mortgage payments? How many children you have specifically. Assuming you are from the U.S.A, the retirement age is 62 if I correct. Is there a reason why she would want $30 Million for retire for about 20-30 years?
have about 550k left on mortgage. have 2 kids. we do buy a new car every 5 yrs or so cash. if i was single, id be long retired.
I won’t opine on whether she is crazy but this is really high if you want to have $100k in after tax income. I would guess that either she wants a much higher level of income in retirement or she is making this number up based on something other than retirement income (Eg this is what she thinks is needed to be rich or secure). Lastly how realistic is $30 million for you?
very unrealistic. its her way of saying i cant stop working. she got that number from some blog she read somewhere. insane
Is there a compromise which would work for you both? Could you do something that is lower stress / lower income? This might be more sustainable for you.
time to ditch the broad
you can retire immediately when you cash in the check for her life insurance when she “accidentally” falls off a nondescript cliff in Northern California
Grand Canyon is really far down and out of the way.
Sounds like she married for money. Hopefully it keeps coming in.
Now I ain't saying she a gold digger but she ain't messing with no broke.....
her family is wealthy.. her parents probably are worth 50 mil so not a gold digger.
Tell her to move back in with mommy and daddy
Can't imagine any credible blog that recommends $30MM in retirement for two people. If she's serious, as opposed to exaggerating, time to evaluate your life choices and how you fucked up so badly.
If her family is so goddamn rich, why do you have to worry about shit like your kids' 529?
Maybe you should've stayed in your lane instead marrying up. Did you really think she would be fine going from a silver spoon in her mouth to the plastic fork you got with your Chipotle last week?
gg brother
whats gg?
Good game. But in this case good luck MAN.
gg no re
Oof. That's a tough situation to be in. But if here parents are worth that much, I imagine that she will come into quite a bit of money and that you guys should be financially independent then (if you are not already so)? So does it really matter if you can operate a decent run-rate until then?
im not expecting to see any of that as our kids will inherit all of it which is fine with me. lucky kids. they wont know until they are about 30 which is a long time from now
Doesn't make sense given her background and your annual expenditure level. The only possible reason is she just wants you to continue working just for the sake of it - I'd keep an eye on the mailman / plumber if I were you.
Haha damn these comments are rough
it's like reddit in here.
You should do the numbers on excel! Literally go line by line, project all your expenses throughout the last 20-30 years of your life if you were to retire. REALISTIC numbers. Then do a sensitivity analysis based on different potential rates of return and starting investment amounts to find out what is the true amount of money you need to start off with in order to guarantee a comfortable retirement. You should probably assume conservative annual returns unless you have other sources of income otherwise.
This is also assuming that you would have the 30 mil cash. If they're in a 401k then your rate of return, withdrawal limits and maybe taxes would vary depending on how your company structures it
If this isn't a first year analyst answer, idk what is. Gotta respect it though..
30 million in roth 401k would be crazy
It's pretty much impossible with the contribution limits lol.
Do you realize the majority of this forum is college students who haven’t made a rent payment yet let alone can advise on long-term wealth planning?
no. i did not. if thats the case, wrong forum for me.
How much do you earn? Doesn’t sound like you need $900k/year in retirement.
i make about 250k a yr working 70 hours a week. could be more hours when on call
That is really low for a surgical oncologist. Are you working in a metro area? If you want to hit 30m you can always move to a remote region and do private practise. You should be able to pull in >1M a year as a partner.
Roger that. You sound like you are doing fine, but hitting even $10mm is unlikely in your current role (which is not necessary btw). Keep your costs manageable and enjoy your life. If she has a big inheritance, then that’s how she’s going to hit that number and she shouldn’t be so concerned.
Guys on the forum , before you marry, make sure you are on the same page and discuss expectations with your wife on
1) Money 2) Sex 3) Religion 4) Children 5) Education for the children 5) Parent involvement, expectations for his/her parents
In no certain order.
Cue LB pound in the ass additional commentary per item 2
Oh and OP is obv a troll
What about politics? Classic 3 are Sex, Religion, and Politics.
Politics is the new religion, so it’s covered
"I ain't Saying she a gold digger..." - Kanye
My number is 7 mill, assuming you’re into the 4% rule I’m still being a little crazy for my lifestyle, but I’m a straw-chewing Midwesterner.
that should be more than plenty anywhere except my wife's imagination.
As a fellow hick Midwestern native, my number is also $7M. Good work, my friend.
We really need another recession. No way wso got trolled this hard without major league effort.
Blastoise and brady4mvp are rolling in their graves at this shameful attempt.
its coming
Blumie too lol
Could not agree more - forum has gotten soft!
A safe annual withdrawal rate on $30mm would be like $1mm not $100k.... you could probably retire around $4mm (assuming this is even a real post) especially since she has family money
i dont have 30 mil. just 9.
then retire
Go see a financial planner that way a 3rd party with some level of objectivity can tell your wife she is fucking insane.
You will have 50mil to retire with, after your inheritance.
Anyone who says to walk away from that is an epic idiot.
yeah because his wife and her family are gonna let him touch it?
If my wife didn't work and was telling me how much we need to retire she would be in trouble.
I foresee disappointment in your wife's future (or maybe she is predicting higher inflation)
probably
Lol as if the stay-at-home mom reading Barefoot Contessa even understands what inflation really is
shes alot smarter than me. she could have been anything. harvard college and med school. dermatologist. so i dont even try to argue anything with her. not that shes right about everything, but she tends to worry a little too much.
Is she contributing aside from having wealthy parents? If not sounds like you should consider leaving her and not totally take it off the table.
She ain't your wife no more
why not
Animi accusantium qui sed. Totam at minima non qui in et. Aliquid nisi non nesciunt qui voluptas. Praesentium nihil aut corporis atque dolores iusto. Perferendis non minus dicta. Similique aspernatur aut aut modi incidunt expedita.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Consequatur officia quia et voluptatem nulla enim cupiditate aliquid. Consequuntur quia officia et omnis. Inventore assumenda laborum doloribus beatae excepturi consequatur facilis. Sit nobis rerum non quia aliquam.
Ipsum mollitia adipisci et quas. Amet blanditiis debitis qui aperiam suscipit. Aut ad non nihil ut.
Facilis deserunt sit hic voluptatum molestiae. Sint maiores rerum laudantium. Aut accusantium aut ad distinctio animi non quidem. Dolores quia voluptates sed ipsam. Dolore sunt totam rerum accusamus.
Omnis dolor reprehenderit fuga sint voluptate non quis. Voluptatem odio et iste voluptate qui. Et necessitatibus quis veniam eos.
Hic sunt porro dicta et. Itaque consequuntur amet accusantium deserunt delectus et quia. Maxime a doloribus tempora occaecati ullam possimus possimus ipsam. Deserunt et molestiae voluptatem nisi aut suscipit consectetur cum. Quia quisquam placeat odit non minima nulla fuga.