Let's say you come up with $1million as nice round number. Again, this could as low as $500K in some countries and just for a very modest lifestyle up to $5 million for US, with many years to live, and with a nice lifestyle.
Daym you need $5m to live in the US?
Wellllll...
The traditional financial advisor .. um ...
advice is to plan on withdrawing 4% annually.
So 4% of $5M is $200K. Is that enough? Before taxes? It's an individual target.
Note that the 4% assumes normal retirement age and life expectancy. If retiring early or planning on living to 268 years of age, you might wanna reduce the percentage for calculation purposes.