Bill and Julie, nearly 60 years old, have $1 million. They hope their hard-earned cash will last until the day they die. Is a million enough?
Bill and Julie Smith never thought they would be millionaires. But right now their IRA account is within shouting distance of those magic seven digits. Will that do it? Do they have enough to retire?
Like many corporate executives in their 50s, Bill was downsized out of his job at Bell Atlantic, so he started a handyman business. He'd had enough of the corporate wars. He rolled over his company 401(k) money into an IRA and put it into mutual funds.
During the bull market, the portfolio did very well. But we all know a million bucks isn't what it used to be. They remember an old movie where a multi-millionaire gave some unsuspecting soul a check for $1 million. No strings attached. That sum was then enough for most people to fulfill their wildest dreams, and banish their money worries forever. Bill and Julie want the $1 million to do only one thing: finance their retirement. If they retire at age 60, with $1 million in the kitty, will that be enough? It's a very close call. And they both feel, well, like a million bucks.
How much do you need to live on? Of course, how far a million dollars goes depends on how much you need to live on each year and how long you will live. A rule of thumb is that you need somewhere between 75% and 80% of your pre-retirement income to maintain your standard of living. You can live on less because you'll spend less if you are retired. But inflation could be a killer, especially now that the bull market is over. They can either run out of money by age 80, or they’ll have to live on less each year.
A few years ago, a major insurance company introduced the slogan: "The only thing worse than dying is outliving your income." That scary slogan has sold a lot of annuities.
В тексте жирным шрифтом выделены образные и идиоматические выражения; мы переведем некоторые из них:
within shouting distance - в пределах видимости
some unsuspecting soul - ничего не подозревающий человек
No strings attached. - Без всяких условий (досл. без прикрепленных веревочек)
in the kitty - в загашнике (kitty в карточной игре - банк или кон).
a close call - что-то близкое к цели (чаще, правда, о чем-то негативном).
Если кирпич упал рядом с кем-то, люди скажут:
It was a close call. - Чуть-чуть не попало.
to feel like a million bucks - чувствовать себя замечательно (на все сто)
а rule of thumb - популярная идиома, которой нет аналога в русском языке. Отягощенные естественнонаучными познаниями россияне обычно вспоминают “правило буравчика”. Однако объяснение другое: согните большой палец и приложите к бумаге - это правило приблизительной мерки. Вот, например, выcказывание о качестве шампанского:
A rule of thumb is: the bigger the bubble, the better the champagne.