enigma1944
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I am 40 years old and just retired from The US Army. I will receive a $ 2300 monthly pension and 100% medical care for the rest of my life. I am just curious about finding out how much I would have to have to receive this from private investments. Thanks
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Sat Sep 03, 2016 1:29 pm |
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oldguy
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quote:
how much I would have to have to receive this from private investments.
A $500,000 fixed life annuity would pay about $2300/m.
The max SS check for 2016 is $2639/m (for normal age, it's about $3600/m if you wait for age 70).
Or - if you are a good investor, you could place a $50,000 lump sum into an SP500 Index Fund at your age 40, and grow it to $1,150,000 by age 70. (You could/should do this now.)
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Sat Sep 03, 2016 3:33 pm |
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enigma1944
New Member
Cash: $ 0.65
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Location: Pittsburgh
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Thanks for your answer
I* don't have $ 50000 to do this
What about a commitment of $ 1500 a month type investment
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Sat Sep 03, 2016 9:14 pm |
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oldguy
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Cash: $ 751.85
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quote:
What about a commitment of $ 1500 a month type investment
That would be almost $4,000,000 in 30 yrs, if you use an 11%/yr index fund.
BTW, $1500/m is the current 401k max investment, that is what many civilian workers try to do. I max'd my 401k from the time that they were invented (1982) until I retired. The power of compound interest can b e amazing.
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Sat Sep 03, 2016 11:38 pm |
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enigma1944
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Cash: $ 0.65
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Joined: 02 Sep 2016
Location: Pittsburgh
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OK Thank you for all the info
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Sun Sep 04, 2016 1:05 am |
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