The “rule” is don’t take out more than 4% a year

but that will depend on many factors. It is hard to know what costs will be 30 years from now. Taxes and Insurance will go up, but if you downsize, you can estimate most costs. Will you travel? Do you have expensive hobbies? If you can live off what you are making now, go with that estimate. When you turn 60, you will buy Long Term Health Insurance.

So if you have $1,000,000, you should be able to live off of $40,000. You will have some SS and possibly a pension as well. It won’t hurt if you draw $50,000 in good years, but you won’t want to draw $100,000 in a year.

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