You might want to check your calculator again. $233k * .05 = 11.65k
I agree that this isnt anywhere close to lavish retirement money but if he withdraws $20k/ year plus takes his full social security payments, he can probably replace the cart pusher wages. So that’s still retirement money, just a modest retirement.
$233,000 is not retirement money.
That’s just over $6k/year in interest at a modest 5%.
Or at his age he can take an extra ~$20k+/yr for a while of straight cash. Might be the better choice.
You might want to check your calculator again. $233k * .05 = 11.65k
I agree that this isnt anywhere close to lavish retirement money but if he withdraws $20k/ year plus takes his full social security payments, he can probably replace the cart pusher wages. So that’s still retirement money, just a modest retirement.
That’s retirement money if you die soon enough