Your assumptions might be overly optimistic.
People tend to underestimate their expenses. If you say you need $22.5 a year, that sounds almost too exact unless you know exactly what you spend. Also, there will be unexpected expenses. What if you need a new car? Or a new roof? What about college?
One other thing: if anything happens to your wife's income, you're in serious financial trouble.
It's fair to say that if you're 35 years old with a family, and you need to withdraw over $1000/month from your savings to pay the bills, you might be spending too much money.
People tend to underestimate their expenses. If you say you need $22.5 a year, that sounds almost too exact unless you know exactly what you spend. Also, there will be unexpected expenses. What if you need a new car? Or a new roof? What about college?
One other thing: if anything happens to your wife's income, you're in serious financial trouble.
It's fair to say that if you're 35 years old with a family, and you need to withdraw over $1000/month from your savings to pay the bills, you might be spending too much money.
Statistics: Posted by Tom_T — Thu Mar 07, 2024 4:47 am — Replies 3 — Views 492