How much money would it take for you to retire right now?
- Thread starter Turk
- Start date
2.5m with a return of 6% per year and I'm good.
Maybe add another Milly for comfort.
Maybe add another Milly for comfort.
Figure out how much money per year you'd need to live comfortably.
Comfortably meaning: enough money where your basic needs aren't a concern. So you don't worry about the rent or mortgage. You can walk into a Whole Foods and not check your bank account while you're on the line to pay.
Depending on where you live in the country, that might be like $150,000 a year. Maybe more, especially if you have a family.
Multiply that by how many more years you think you might live. Average lifespan in America is around 78.
Let's say you live in Los Angeles or Miami and you're 35 years old. Maybe $200,000 a year to live there without worry. You're looking at about 9 million dollars. And I think most people would squander a good portion of that so maybe add 30% to whatever your number is.
Comfortably meaning: enough money where your basic needs aren't a concern. So you don't worry about the rent or mortgage. You can walk into a Whole Foods and not check your bank account while you're on the line to pay.
Depending on where you live in the country, that might be like $150,000 a year. Maybe more, especially if you have a family.
Multiply that by how many more years you think you might live. Average lifespan in America is around 78.
Let's say you live in Los Angeles or Miami and you're 35 years old. Maybe $200,000 a year to live there without worry. You're looking at about 9 million dollars. And I think most people would squander a good portion of that so maybe add 30% to whatever your number is.
There seems to be an assumption that COL will be the same for the next 4 decades...these answers is light lol
Elim Garak
Veteran
I don't think anyone is assuming that lol.
They gotta be with these answers.
Elim Garak
Veteran
We all just lived through covid. No one is assuming that.
Again, y'all have to be with these answers.
Heafcliffe
Hope there's puddin' in the clink...
I'm cool with a cool $10M.
$1M would render me debtless... after paying off my current and new houses.
$1M would render me debtless... after paying off my current and new houses.
The BasedFather
Task Force
nikka run me 500 mil 
I need a house in NorCal, SoCal, Texas, Florida, NY, Hawaii and London. Need some cool cars and money for my son to be good for life. Need enough money to live like Hugh Hefner with a house full of thotties serving me. Y’all living modestly
I need a house in NorCal, SoCal, Texas, Florida, NY, Hawaii and London. Need some cool cars and money for my son to be good for life. Need enough money to live like Hugh Hefner with a house full of thotties serving me. Y’all living modestly
I remember a college advisor I had telling me she’d walk out of the office for 1 million dollars. I was like 18, she was late 20s…? I was like “How is that enough”? And she said “it’s enough if you know how to invest”.
I feel her now. If I randomly lucked up into a cool 1 million tomorrow morning I for sure would never go back to work and make that shyt work.
If you do let me know I got a great investment opportunity for you
MY PENSION/401K IS PRETTY DECENT RIGHT NOW. I WOULD SAY THAT 4 MIL WOULD BE MY SWEET SPOT FOR FULL RETIREMENT.
I WOULD PUT 2MIL TO FURTHER PAD MY 65+ RETIREMENT PLAN. THE OTHER 2 MIL WOULD FLOAT ME NICELY FOR THE NEXT 20 YEARS UNTIL THEN.
I WOULD PUT 2MIL TO FURTHER PAD MY 65+ RETIREMENT PLAN. THE OTHER 2 MIL WOULD FLOAT ME NICELY FOR THE NEXT 20 YEARS UNTIL THEN.
