When you withdraw that 2.5-3.5% doesn’t it complicated depending on if you withdraw from pretax or after tax accounts?

So, let’s say year 1 of retirement I withdraw 3.5% of $1,000,000 ($35,000) wouldn’t I be hit with taxes at the 22% rate on the 35K?

I know everyone says it’s easy, but am I thinking about this the right way?

I just don’t know what I need to include in excel, like inflation considerations etc. For me, the idea of missing one thing I should have included in excel is a little scary because it could end up being quite inaccurate over many years.

That’s sort if why i’m here. To get help from smarter people from me to piece this together.

So, thank you!

Dumb question, but when you say remember to plan for things like SS, pensions and healthcare, i’m assuming SS/pensions as income and healthcare as an expense?

Haha honestly, these are helpful steps to know! Thank you

Thanks for this response. That is awesome! Rentals or flipping renovations?

You’re not wrong. It’s not all about investing. I get great returns i’m happy with and agree with you 100%.

It’s the plan, course of action and knowing when you can retire. How much and from which accounts can I withdraw money from each year during retirement in a strategic way. What are the tax implications. Am I investing enough do I need to do more, etc.

I’m basically just maxing out a 401K and IRA each year not knowing where that will get me.

Ah gotcha. Yea, two different ways of thinking I suppose. You could say he did it right. Lived the life he wanted to and didn’t wait for the retirement he never would have seen anyway. He nailed it. However, he did say he failed my mom at the end. Which leads me to believe he did not feel he did a good job including her in a retirement plan which relied quite a bit on him getting a salary at the end.

Appreciate your perspective!

Agree with the withdrawing 3-4%. But from which accounts and how taxes play into that decision is what boggles me.

I always thought it would be wiser when you have that much money, to live off of the interest rather than just spending all of your cash.

Yea, I think that is sort of what i’m thinking too.

Haha yea, how could I forget the app.

That’s fair. I’m not really sure how to even approach that portion if investing. Just don’t want to get down the road and realize i’m in the same position as my dad.

Interesting about the Vanguard Personal Services. I’ll have to check that out. They can answer all of those questions? What does .30bps mean? I’m not familiar with that.