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$1mm net worth by 30. How much more until retirement?
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Date: May 25th, 2016 11:47 AM Author: Big buff lodge deer antler How much do you think I need to retire?
My own opinion is about $3mm, which is calculated by taking 5% average returns split by different passive investment strategies multiplied by my cash net worth ($150k a year).
Thoughts? Also, what is YOUR number? |
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Date: May 25th, 2016 12:01 PM Author: spectacular temple that sounds good (http://www.autoadmit.com/thread.php?thread_id=3233936&forum_id=2#30555543) |
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Date: May 25th, 2016 6:54 PM Author: Big buff lodge deer antler What # would you be comfortable with retiring? (http://www.autoadmit.com/thread.php?thread_id=3233936&forum_id=2#30558464) |
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Date: May 25th, 2016 7:22 PM Author: spectacular temple 3 million sounds good. i could easily go lower because i have experience living abroad.
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Date: April 29th, 2018 9:53 PM Author: pink concupiscible address mexican if only he’d listened to you re: Bitcoin! I can now see why OP shits on crypto relentlessly hehe (http://www.autoadmit.com/thread.php?thread_id=3233936&forum_id=2#35947183) |
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Date: May 25th, 2016 12:04 PM Author: metal supple spot 5% is too aggressive because of sequence of returns risk. Recalculate using 3.5-4% withdrawal rate, depending on your risk tolerance and ability to be flexible (with spending or supplemental income) in case real returns are lower than projected.
Edited to add, my number is 2.5M. I'd be cool with 100 for life |
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Date: May 25th, 2016 12:05 PM Author: Big buff lodge deer antler Makes sense, I can do 3.5% which is about $105k. I still think I'll stop at $3mm.
Sadly that'll take me another 10 years or so to achieve. |
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Date: May 26th, 2016 7:11 AM Author: Dark Motley Area brother just inve$t in medical $tocks, watch boomer$ $pend billion$ and trillion$ trying to boom their way into immortality (http://www.autoadmit.com/thread.php?thread_id=3233936&forum_id=2#30561708) |
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Date: May 26th, 2016 8:11 AM Author: Maroon overrated community account station (http://www.autoadmit.com/thread.php?thread_id=3233936&forum_id=2#30561809) |
Date: May 25th, 2016 6:55 PM Author: curious home jewess 10m net but living the way i do, not like not going out and driving cars with no ac. (http://www.autoadmit.com/thread.php?thread_id=3233936&forum_id=2#30558470) |
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Date: May 25th, 2016 6:58 PM Author: Big buff lodge deer antler I'm talking $3mm cash and you have a house and car. What else do you need? (http://www.autoadmit.com/thread.php?thread_id=3233936&forum_id=2#30558497) |
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Date: May 25th, 2016 7:01 PM Author: curious home jewess Depends on my situation then but I would like to freely travel without worrying about budgets, medical expenses, etc. Ultimately though, I would like to leave whatever family I have a decent chunk to lessen their worries. (http://www.autoadmit.com/thread.php?thread_id=3233936&forum_id=2#30558506) |
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Date: May 25th, 2016 7:25 PM Author: Big buff lodge deer antler That makes sense, I definitely need way more in order to travel and be care-free on medical expenses.
I won't have much to leave for family either, probably just be able to pay for kid's full college tuition. |
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Date: May 25th, 2016 7:26 PM Author: curious home jewess That's a good gift. Good luck with your goal brother. (http://www.autoadmit.com/thread.php?thread_id=3233936&forum_id=2#30558635) |
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Date: May 25th, 2016 7:34 PM Author: bespoke lay fanboi Great moniker/op synergy (http://www.autoadmit.com/thread.php?thread_id=3233936&forum_id=2#30558670) |
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Date: May 26th, 2016 6:43 AM Author: Jet Center Nibblets What portion of that 3 mil will be in retirement accounts? If it's all in a brokerage account then you'll be set; retirement accounts? you have to worry about taxes eating up a good chunk of that $. Taxes on long term capital gains and qualified dividends are pretty low--I was planning on 2 million before I bail and at 4% I would gross 80K year pre-tax and ~72K post tax. |
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Date: May 26th, 2016 8:17 AM Author: Big buff lodge deer antler Yeah I would say 100% cash.
The goal is $3mm cash / brokerage excluding retirement accounts which are pretty flame unless you get 50% match. Waiting decades to live a good life is pretty shitty IMO.
How close are you to your goal? |
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Date: May 26th, 2016 10:41 PM Author: Jet Center Nibblets Pretty close. I'm at 1.8. It's been fluctuating between 1.7 and 1.85/8 the past 12 months. I just switched to 60% equities and 40% cash. I'll wait for a 10%+ correction and go all in. Hopefully this puts me over the 2 mil mark. (http://www.autoadmit.com/thread.php?thread_id=3233936&forum_id=2#30567561) |
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Date: May 26th, 2016 8:16 AM Author: razzmatazz tanning salon pervert Probably like 5 mil. I'm 37 and at 450k net worth. I should be at $1m within 3-5 years, at which point I couldn't retire but could probably leave law for a chill job paying 50-60k. (http://www.autoadmit.com/thread.php?thread_id=3233936&forum_id=2#30561818) |
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Date: May 26th, 2016 9:36 AM Author: Olive foreskin hairy legs I'm married, with kids. Three million won't do it once you consider the college expenses. Thinking five million, especially if we buy some more real estate, but I'm a risk-averse faggot. Should be able to retire at 45, but that will require a lot of discipline to walk away. Housing costs are a third of your living costs, so it definitely makes sense to have a condo and a house paid off before you retire. (http://www.autoadmit.com/thread.php?thread_id=3233936&forum_id=2#30562012) |
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Date: May 26th, 2016 11:56 AM Author: aromatic lilac azn blood rage I'm at around 1M at age 30 as well. I'm planning on leaving full time employment once I get to 2M NW (probably around 3-4 years depending on market returns). I'll have about 1.6M in investable assets and a paid off 400k home in low COL area in rocky mountains. this will allow me to live on about 60-65k/year mortgage free, which is plenty (especially since my tax liability will be 0). the plan is to raise chilrens' and chill doing outdoor shit for a few years. i may go back to work eventually and i'm likely to earn money again in some capacity, but it won't be strictly necessary.
also, for those worried about accessing retirement accounts, google "roth ira pipeline".
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Date: May 27th, 2016 12:17 AM Author: Insecure Offensive Kitty Cat i think if I had $5mm in today's dollars at age 55, I'd think about retiring unless i was making bank at my job.
gotta worry about that 40 years of no earnings scenario.
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