Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Gorilla and King Portfolio Candidates -- Ignore unavailable to you. Want to Upgrade?

To: Apollo who wrote (40377)	3/13/2001 1:29:52 PM
From: Uncle Frank	Read Replies (2) \| Respond to of 54805

>> What would you advise the rest of us who haven't yet tried retirement on how to better determine the "magic number"? My personal "Fat Lady" number is a portfolio valued at 10X your annual gross income. That's provided you don't intend to upgrade your standard of living. Since you're a youngster with a growing family, I'd think 15X would be more appropriate. uf

To: Apollo who wrote (40377)	3/13/2001 1:54:26 PM
From: LindyBill	Read Replies (1) \| Respond to of 54805

What would you advise the rest of us who haven't yet tried retirement on how to better determine the "magic number"? What I am figuring now is: What I need to live on, as a 5% return on what I have, as capital. I am going to work until I have that much again, then convert it to fixed income. If my health gives out before I reach that number, I will reduce my standard of living to meet the amount I have on hand at that time. I figure I can work another 10 years, (to 76) without a problem. So I have 10 years to get there. The downside of having your money in a tax free account is the enormous tax burden when you take it out, if you are taking out major money. California has a 9.9% top state tax rate. Tie that to the Fed of 39.9%, and you get killed out here. In the meantime, I am enjoying the work I do, enjoying living in Hollywood, and enjoying the hell out of dancing 6 nights a week!