oldguy
Senior Member
Cash: $ 751.85
Posts: 3656
Joined: 21 May 2006
Location: arizona
|
Sorry about the job loss. And congratulations on building up your $376,000 account.
Personally, I would invest that $376,000 more aggressively, If you earned about 8% on the $376,000 that would be $30,000 per year.
Depending on where you live,, most any minimum wage job will cover your $9000/ year expenses. Eg, if you are in Seattle where the Min Wage is $15, your earnings would be about $30,000 per year for full time work. Or if you are in a low-income state, say $8/hour), that would be $16,000 per year.
Using the rule of 72 - if you invest that $376k at 8% and let it grow, it would double about every 9 years. So, it would be $752,000 at age 61 - $1,504,000 at age 70 - and so on.
|
