I'm 55 with $2.5 million saved and no debt and would like to increase my monthly spend by $4k - can I afford it?
Briefly

from 24/7 Wall St.1 month ago
Experts used to believe it was safe to withdraw 4.00% of your retirement funds in year one, but this was revised down to 3.7% because of concerns about longer lifespans and lower projected returns in the future. Given the OP's age, they should adopt a more conservative approach to withdrawals to ensure their funds last throughout retirement.
24/7 Wall St.https://247wallst.com/personal-finance/2025/01/16/im-55-with-2-5-million-saved-and-no-debt-and-would-like-to-increase-my-monthly-spend-by-4k-can-i-afford-it/
With a $2.5 million nest egg, the recommended withdrawal would be around $92,500 per year, which allows for some increases in spending but is significantly lower than the OP's desired $10,000 monthly expenditure.
24/7 Wall St.https://247wallst.com/personal-finance/2025/01/16/im-55-with-2-5-million-saved-and-no-debt-and-would-like-to-increase-my-monthly-spend-by-4k-can-i-afford-it/
Read at 24/7 Wall St.
#retirement-planning #withdrawal-rate #financial-advice #early-retirement #investment-strategy
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