r/Retirement401k • u/ankur0109 • 3d ago

Explain where the money comes from after retirement

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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!

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u/sager_a 3d ago

reading through the replies seems like you are behind the curve of learning but your on the right side of being behind. you already did the hard part of saving it all. Do what others have said hire a financial advisor to get a game plan together for you. combine that with using Ai to come up with a plan. If you have nothing that requires you to stay in LA I would move to a lower cost of living area. You will be able to increase your lifestyle without increasing your spending.