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Can you retire with $1.2M liquid at 45?
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Date: April 19th, 2017 10:59 PM Author: Concupiscible grizzly yarmulke Assume you have a very cheap mortgage of around $600 a month PITI. (http://www.autoadmit.com/thread.php?thread_id=3589741&forum_id=2#33115501) |
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Date: April 19th, 2017 11:00 PM Author: Mustard Dashing Newt Generalized Bond If you are okay living like a prole. My number is $3 million. (http://www.autoadmit.com/thread.php?thread_id=3589741&forum_id=2#33115511) |
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Date: April 19th, 2017 11:01 PM Author: Spectacular amber gas station toilet seat show your work. returns can be flat or negative for many years in real terms. (http://www.autoadmit.com/thread.php?thread_id=3589741&forum_id=2#33115518) |
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Date: April 19th, 2017 11:02 PM Author: Concupiscible grizzly yarmulke 3.5% withdrawal rate never fails tho. 4% fails less than 5% of the time. (http://www.autoadmit.com/thread.php?thread_id=3589741&forum_id=2#33115532) |
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Date: April 19th, 2017 11:08 PM Author: Spectacular amber gas station toilet seat yeah but 3.5% of a few million is SPS in real purchasing power many years from now
imagine you have 1.5 mil and draw 50k a year. sure you could live on that now esp if you owned your house outright, but a few decades from now that will be a poverty income. |
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Date: April 19th, 2017 11:10 PM Author: Concupiscible grizzly yarmulke Ya but the 3.5% should grow with inflation. E.g., in 10 years it will be 3.5% of $1.8M, etc. (http://www.autoadmit.com/thread.php?thread_id=3589741&forum_id=2#33115622) |
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Date: April 19th, 2017 11:12 PM Author: Spectacular amber gas station toilet seat so you need to get returns at least equal to inflation, right?
and assuming 0 growth above inflation, you draw down fully in 28.5 years? then what? social security? lol. |
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Date: April 19th, 2017 11:14 PM Author: Concupiscible grizzly yarmulke Historical returns are 7% and inflation is around 2%. In years with yuge inflation you get yuge returns. (http://www.autoadmit.com/thread.php?thread_id=3589741&forum_id=2#33115647) |
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Date: April 20th, 2017 9:05 PM Author: Hairless Center Those Trinity-like safe withdrawal studies account for inflation. (http://www.autoadmit.com/thread.php?thread_id=3589741&forum_id=2#33122583) |
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Date: April 19th, 2017 11:01 PM Author: Concupiscible grizzly yarmulke I wont hit that till 50s tho. Thats 10 more wasted years (http://www.autoadmit.com/thread.php?thread_id=3589741&forum_id=2#33115521) |
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Date: April 19th, 2017 11:02 PM Author: Pea-brained Exhilarant Hall Degenerate If no kids and in flyover, yes
Or you could just work part-time doing whatever...like work in a bookstore 2 days a week |
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Date: April 19th, 2017 11:03 PM Author: Concupiscible grizzly yarmulke Why wouldnt this work with a kid or 2. Just do public schools. I guess the wild card is health insurance. (http://www.autoadmit.com/thread.php?thread_id=3589741&forum_id=2#33115552) |
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Date: April 19th, 2017 11:05 PM Author: Pea-brained Exhilarant Hall Degenerate With kids I feel like you are always ONE/WRONG/MOVE pwned
Plus if you're planning on paying for college, good luck |
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Date: April 19th, 2017 11:06 PM Author: Concupiscible grizzly yarmulke College costs have to be fixed by then right? (http://www.autoadmit.com/thread.php?thread_id=3589741&forum_id=2#33115588) |
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Date: April 19th, 2017 11:07 PM Author: Pea-brained Exhilarant Hall Degenerate No
It's prob going to be like 1 million dollars for 4 years in the next 20 years...LJL |
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Date: April 19th, 2017 11:08 PM Author: Concupiscible grizzly yarmulke Will just tell my kid to go to trade school then (http://www.autoadmit.com/thread.php?thread_id=3589741&forum_id=2#33115608) |
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Date: April 19th, 2017 11:09 PM Author: Pea-brained Exhilarant Hall Degenerate Send your kid to the UK for school ...that's what I'm planning on doing if I ever have one (http://www.autoadmit.com/thread.php?thread_id=3589741&forum_id=2#33115615) |
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Date: April 19th, 2017 11:11 PM Author: Concupiscible grizzly yarmulke I need to look into that. Is it cheap? (http://www.autoadmit.com/thread.php?thread_id=3589741&forum_id=2#33115627) |
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Date: April 19th, 2017 11:15 PM Author: Pea-brained Exhilarant Hall Degenerate NOt "cheap" but cheaper. Says it's around $20k a year for Oxford/Cambridge for tuition. Big plus is that uni is only 3 years in the UK, not 4.
I know some people who got in from America who then did a maths/econ course, who were way behind in math and had to take remedial courses....I think European secondary education is better at math/sciences.
https://www.topuniversities.com/student-info/choosing-university/oxford-or-cambridge
I think they look more at your AP scores for admissions - it's kind of like their version of A levels. YOu'd probably need straight 5s in whatever subjects they need for your course area and you apply for a particular major and stay in it. There is no 'liberal arts education' bullshit. So for maths, you'd prob need like straight 5s in AP Calc BC, AP Stats, AP Physics and some other science...but i dunno specific course reqs. Also each college within the unis do their own admissions. In the UK, you apply to either Oxford or Cambridge. If you get an interview, they "offer" you a conditional offer - you have to get certain scores on A-levels to qualify. If you don't make exam scores, you don't get a firm offer. |
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Date: April 19th, 2017 11:03 PM Author: Mustard Dashing Newt Generalized Bond Herein is the problem, bro. ARE capitalist overlords design the whole system around this dynamic. (http://www.autoadmit.com/thread.php?thread_id=3589741&forum_id=2#33115550) |
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Date: April 19th, 2017 11:04 PM Author: Concupiscible grizzly yarmulke They need to be overthrown brother (http://www.autoadmit.com/thread.php?thread_id=3589741&forum_id=2#33115562) |
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Date: April 19th, 2017 11:05 PM Author: Mustard Dashing Newt Generalized Bond All power to the Soviets, bro. (http://www.autoadmit.com/thread.php?thread_id=3589741&forum_id=2#33115576) |
Date: April 19th, 2017 11:00 PM Author: Spectacular amber gas station toilet seat no (http://www.autoadmit.com/thread.php?thread_id=3589741&forum_id=2#33115513) |
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Date: April 19th, 2017 11:02 PM Author: soul-stirring toaster why? can't you make $40k/yr off that (http://www.autoadmit.com/thread.php?thread_id=3589741&forum_id=2#33115542) |
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Date: April 19th, 2017 11:02 PM Author: plum curious jap (http://www.autoadmit.com/thread.php?thread_id=3589741&forum_id=2#33115530) |
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Date: April 19th, 2017 11:02 PM Author: Concupiscible grizzly yarmulke :( (http://www.autoadmit.com/thread.php?thread_id=3589741&forum_id=2#33115539) |
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Date: April 19th, 2017 11:03 PM Author: Pea-brained Exhilarant Hall Degenerate I'm prob going to retire from GC flame work at 40 with 1 million liquid. Spouse will prob keep working some low stress job making high five figures.
I might just work part time as a vet tech or do something else with animal doods. |
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Date: April 19th, 2017 11:03 PM Author: Obsidian tantric locale Yes, if you can keep your expenses at $48,000 or less. (http://www.autoadmit.com/thread.php?thread_id=3589741&forum_id=2#33115555) |
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Date: April 19th, 2017 11:04 PM Author: Concupiscible grizzly yarmulke I can pretty easily brother. Assuming no major health disasters (http://www.autoadmit.com/thread.php?thread_id=3589741&forum_id=2#33115564) |
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Date: April 19th, 2017 11:06 PM Author: Pea-brained Exhilarant Hall Degenerate If health disaster, unlikely GC flame TTT healthcare can help u much there. Just cyanide self to death at that point. (http://www.autoadmit.com/thread.php?thread_id=3589741&forum_id=2#33115587) |
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Date: April 19th, 2017 11:08 PM Author: Concupiscible grizzly yarmulke Or I guess go be treated by legit docs in thailand or whereever for 1/100th of the cost (http://www.autoadmit.com/thread.php?thread_id=3589741&forum_id=2#33115598) |
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Date: April 19th, 2017 11:09 PM Author: Pea-brained Exhilarant Hall Degenerate Most treatments for olds esp. are just "life prolonging" treatments...doesn't actually give any QOL to olds. Might as well just say fuck it and a rob a bank on an adrenaline rush and get shot to death by the popo. (http://www.autoadmit.com/thread.php?thread_id=3589741&forum_id=2#33115612) |
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Date: April 19th, 2017 11:06 PM Author: Violent pervert step-uncle's house Of course you can. That's more than enough unless you're a GC addict who has to shop for everything. (http://www.autoadmit.com/thread.php?thread_id=3589741&forum_id=2#33115586) |
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Date: April 19th, 2017 11:07 PM Author: nubile fluffy affirmative action the problem is, even if your mortgage is fixed for the next 30 years, your taxes, insurance, and other expenses could go up drastically.
$1.2 million for such a long period of time would make me nervous. though if your mortgage is that dirt cheap, I'm assuming you live in a very low COL area. |
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Date: April 19th, 2017 11:08 PM Author: Violent pervert step-uncle's house Jesus Christ, you are such risk averse faggots. If your funds start dwindling go get a job at Starbucks or Target for 15 hours a week. Enjoy your life, don't be a slave to GC.
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Date: April 19th, 2017 11:09 PM Author: nubile fluffy affirmative action I'm less risk averse than most on here.
But $1.2 million is not much and I wouldn't want to take some shit job after I'm "retired." Why not just work a few more years while still in work mode and then retire correctly? |
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Date: April 19th, 2017 11:10 PM Author: Pea-brained Exhilarant Hall Degenerate There are lots of jerbs that are way more awesome and not "shit jobs" aside from the pay - like vet tech, bookstore clerk, etc. You could easily work these jobs part-time.
Full retirement will probably get boring. I'd prob still "work" part-time in retirement. |
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Date: April 19th, 2017 11:13 PM Author: nubile fluffy affirmative action explain how "bookstore clerk" is an awesome job. First of all, who knows if bookstores will even exist by the time he's 45, because a lot of them are shutting down as it is. That issue aside, any customer service job like that can be stressful if you have to deal with rude/insane/ghetto customers. that's not how I'd want to spend my retirement.
At 45, he could easily live another 40-50 years. That's a very fucking long time. I'm also guessing he won't get maximum social security from retiring so early.
To make that money last, he'd need to do more than keep it in a CD or savings account paying shit. Which means something more risky, which can be a problem too.
If he wants good advice, I would say, work another 5 years, get the savings up to $1.6 million or so... he'll have more cash up front compounding, and he'll have less time to need it for. |
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Date: April 19th, 2017 11:37 PM Author: histrionic doctorate principal's office if u don't like the job, though, u can just walk
the standard withdrawal rates like 3.5% and 4% are based on stuff like 70% equities/30% fixed income portfolios and factor in events like black monday, GFC, etc. and assume that u'll never go back to work and that u'll never collect social security
if anything that is unduly conservative since it's exceedingly unlikely that someone who made $1 mil relatively early in life won't make another dollar ever for the rest of his life
that being said, there's nothing wrong with bumping up the savings a bit since freedom is sort of useless if u can't sleep well at night |
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Date: April 19th, 2017 11:12 PM Author: Concupiscible grizzly yarmulke You never get those few more years back though. I want to spend as little time on the plantation as possible (http://www.autoadmit.com/thread.php?thread_id=3589741&forum_id=2#33115637) |
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Date: April 19th, 2017 11:14 PM Author: nubile fluffy affirmative action what do you do? BIG LAW? (http://www.autoadmit.com/thread.php?thread_id=3589741&forum_id=2#33115650) |
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Date: April 19th, 2017 11:16 PM Author: Concupiscible grizzly yarmulke Not even. Im a lawyer though (http://www.autoadmit.com/thread.php?thread_id=3589741&forum_id=2#33115663) |
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Date: April 19th, 2017 11:18 PM Author: nubile fluffy affirmative action why not take a year or two off while you're young then, and then go back to work? (http://www.autoadmit.com/thread.php?thread_id=3589741&forum_id=2#33115682) |
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Date: April 19th, 2017 11:22 PM Author: Concupiscible grizzly yarmulke Id be too stressed about finding a decent job when I came back. Would rather just grind it out and be done (http://www.autoadmit.com/thread.php?thread_id=3589741&forum_id=2#33115718) |
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Date: April 19th, 2017 11:12 PM Author: beady-eyed henna house lol
not after honestly inflation adjusted. look at the money supply AKA QE that's said to have solved the great recession.
it's a ticking timebomb. it's actually... i've resisted saying this since 2006 but it's just true... it's a pyramid scheme.
metals, maybe bitcoin/crypto - that's really your best bet but you're guaranteed to fuck up if you don't get it in and out - or real estate.
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Date: April 19th, 2017 11:15 PM Author: nubile fluffy affirmative action sounds like he owns property though, so at least he's hedging his bets. he should just pay that off and not have to deal with a mortgage during retirement. (http://www.autoadmit.com/thread.php?thread_id=3589741&forum_id=2#33115658) |
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Date: April 19th, 2017 11:33 PM Author: beady-eyed henna house sounds like you know what you're talking about (: (http://www.autoadmit.com/thread.php?thread_id=3589741&forum_id=2#33115778) |
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Date: April 20th, 2017 9:04 PM Author: Hairless Center I could.
You couldn't. |