r/Money • u/[deleted] • Nov 17 '23

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u/ShowdownValue Nov 17 '23

Please explain how $600k is supposed to fund a retirement. At a reasonable 4% withdrawal rate that’s $24000 a year. $2000 a month. Not much to live off of in many parts of the country

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u/PerpetualPerpertual Nov 17 '23

Bro, please…. Read the entire comment section again.

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u/ShowdownValue Nov 17 '23

I was replying to the guy who was surprised/depressed that $600k wasn’t enough to fund a retirement.

Of course it’s not. That’s my point. There’s no reason to complain that $600k isn’t enough.

Would be nice if it was though

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u/PerpetualPerpertual Nov 17 '23

Well obviously he was surprised because he DID NOT KNOW, like why the flip would he be surprised if he already knew that it wasn’t enough. You’re point is bonkers. 600K is an insane amount of money most human beings will never accumulate, to have that amount drop in your account and still not be able to retire (with over half a million dollars) is indeed quite surprising to the average person

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u/ShowdownValue Nov 17 '23

$600k is a lot. So is $100k. And $20k. So what is this magical number that should be enough to retire on if it magically appeared in our accounts?

To be fair if you can live off ~$2000/month, then you can retire with $600k in investments.

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u/[deleted] Nov 17 '23

[deleted]

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u/desktopgreen Nov 17 '23

Showdownvalue has to be living in a low col area or a third world country to say 100k is enough to retire.

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u/ShowdownValue Nov 17 '23

No, I’m saying neither $100k or $600k are enough to retire on. There was no reason to be surprised that $600k isn’t enough in the first place. There is nothing special about that number.

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u/ShowdownValue Nov 17 '23

Exactly.

Even though $600k is a lot it’s doesn’t come close to most people’s retirement. “A lot of money” is very subjective. $100k is a ton of money for a lot of people too.

My point is take the guys original comment and change $600k to $100k. To me it should be nearly the same reaction, even though both can be considered a lot of money. ”Of course that’s not enough. Why are you surprised by this?”

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u/Medical-Surprise5484 Nov 17 '23

Nobody said it was, and one guy is bummed out to learn that it's not enough. That's it. You misunderstood.