A Reddit user, aged 51, grapples with the decision of whether to stop teaching upon receiving a $3 million inheritance. While the inheritance could provide a comfortable lifestyle, working longer could enhance pension benefits, fostering greater financial security. If invested wisely, the inheritance could yield around $111,000 annually, following a conservative withdrawal strategy. However, she must account for private health insurance expenses before qualifying for Medicare at age 65. This dilemma requires careful consideration of immediate financial needs versus long-term benefits.
A $3 million inheritance could be invested and earn a substantial amount of money even if it's invested in something pretty conservative. If the Redditor invests the money and sticks to a 3.7% withdrawal rate, which experts now suggest is a safe rate if you want to make your money last, she could end up with $111,000 to live on.
Working a few more years would help her earn a nice pension. Unless there's a specific reason to quit, it may be worth working long enough to get the pension funds to help build life-changing wealth.
Collection
[
|
...
]