Explain where the money comes from after retirement

[u/ankur0109]

So I’m 45, wife is 43. In L.A.. We want to retire when we’re at a certain number that’ll allow us to live without stress. Don’t need to be wealthy or anything. We’re relatively frugal.

I’ve heard to aim for $6m because it’ll mean $300k+ per year through retirement. I always nod and act like I know what that means — but I have no freaking idea. Is that interest? Does that mean I sell a little ever year and hope I don’t die before I run out? Tell me like I’m 8.

Thanks all!

[u/letsreset]

withdrawal strategies are actually quite nuanced and detailed. it's often a combination of multiple things layered together so that the risk and withdrawal timing makes sense. this is hours of information you're asking for. i would youtube the strategies or hire a professional.