Date: September 9th, 2024 7:19 AM Author: Concupiscible psychic
Risk-free on 1.5 mil is like 75k a year. With a chill WFH sinecure bumping that up to 150-225k, seems like a CR number to just chill out, go travelling, etc.
Date: September 9th, 2024 7:22 AM Author: thriller brindle meetinghouse degenerate
no shit even if u take this shit abt 1m being $5 back in 1991 it seems u just bump it up to $1.5m instead, not even 2m
1.5m seems like good number, thats my goal now im so retarded though
XO is dumb, just following their jew overlords who have brainwashed them to work for life, its so dumb. the US isnt even a good place to live anymore, so wtf is the issue moving somewhere else to just do whatever u want instad of living arnd niggas hoaping not to get murdered
Date: September 9th, 2024 1:14 PM Author: Fucking Fuckface
Why hope not to get murdered? Who gives a fuck anyway...we're all checking out.
You get fixated on thinking your number is right for everyone, but you're admittedly retarded and unable to settle anywhere in particular.
My number is a little over $2 million not including 401k. I should hit that in about 3 years. I'll be ready then and will just have to hope my genetics and diet conspire to keep me from ever hitting my 70s.
Date: September 9th, 2024 7:34 AM Author: exciting stead wagecucks
my wife (not a lawyer) has one of these and makes $105k. only became WFH in 2021 (company tried return to work after lockdown and realized everyone was miserable so quickly got rid of its expensive lease in ArlingTTTon, va and went permanent WFH). i asked her recently if she wanted to stop working and she said why bother. she basically sends some emails and gets on a couple calls every day and that's it. she has almost $900k in her 401(k).
Date: September 9th, 2024 7:28 AM Author: cheese-eating judgmental corner
Really depends, if you want to retire to like SE Asia, S.America or smalltown USA you'll be fine. If you want to live in a major, secondary or even tertiary city in the US or W.Europe probably not, especially if you want to travel like you said. Totally FUAAAARKED if you want to have a family in one of those places also. Do you really want to be like 65 and worried about having to slum it because you need to conserve paper?
Date: September 9th, 2024 7:29 AM Author: Histrionic Church Building
Depends on what kind of standard of living you want in W. Europe. Can be pulled off in Spain or Portugal, if u live like the locals instead of as an expat
Date: September 9th, 2024 7:29 AM Author: exciting stead wagecucks
wife and i have a bit more than 2 mil invested. i wouldn't retire off that, but it has taken the stress off me in a way that is 180. i was in midlaw when we had our first kid back in 2015 and our nw was around $400k. i was making $180k and was constantly nervous about where my career was headed, what my income trajectory would be, how i'd pay for college, etc.
now, i could give a fuck. i could afford to drive uber or some other bullshit job and still retire pretty wealthy, as long as i let the money grow for the next 15-20 years. as a result i taunt spaceporn here while he threatens me with "bar inquiries" and i lol heartily at him.
Date: September 9th, 2024 7:34 AM Author: Concupiscible psychic
With a wife and two kids, probably bump that number up to 5 mil. Still 180. At your current income you should be reaching that in less than 10 years, no?
Date: September 9th, 2024 7:40 AM Author: exciting stead wagecucks
we hit $1 million in early 2020 IIRC, then 2 mil just 4 years later. i also - for now, anyway - am equity and in addition to getting a $350k (roughly) draw, i'll be getting a payout each Feb of around 100k after taxes and deductions. as it is, based on the draw i am maxing out 401k and saving another 3-4k/mo. i plan to plow all or most of that payout into my ETF portfolio. wife also maxes out 401k and has a 9% match, so that's another ~32k/year in investments.
unless we go into a prolonged bear market, i think we can be at or above 5 million within 10 years. i'd like to fully retire with 15 mil, which i think is possible, since i'm 46.
also, college is more or less fully funded - i have about $250k in 529s that i don't count toward net worth (continuing to put in $500/mo for now, but it's probably overkill).
even if i got SPACEPORNPWNED and had to get a job that just covers expenses (not hard, bc our mortgage is only like $2800/mo and we don't have any crazy expenses), our 2 mil would be nearly 10 after 15 years assuming a 10% rate of return (i know they say to figure 7% or whatever, but that seems overly conservative. that said, if you assume 7%, then it'll be about $5.5 mil after 15 years)
Date: September 9th, 2024 7:50 AM Author: Cream senate
I reached 1.5mil a few years ago and thought about doing nothing and traveling. Spending a few months in Portugal and got bored, so I started my own small biz. Now i'm at 5 mil (mostly from the market - biz brings in 250k). I mostly think about getting to 10mil, even though I have no need of it. No stress though.
Date: September 9th, 2024 8:22 AM Author: gold appetizing therapy striped hyena
$1.5m is better than nothing, but $1.5m is not a fortune by any means and will not support modest spending for my family for any meaningful amount of money. The equation would start to change and tilt toward lack of stress at about $6m. So 2 more doubles. Just let my money double two more times and then I might have maed it.
Date: September 9th, 2024 8:42 AM Author: Vibrant umber azn dilemma
In 5 years, mid 40s, we'll have ~$2.0 invested and ~$1.5 in retirement accounts. No mortgage or kids. Need to figure out what we'd do for health insurance if we fully retired then, but seems pretty cr to let that $1.5 grow for 20 years while living off $2 ... which we could spend faster than normal because retirement accounts would be waiting for us.
Date: September 9th, 2024 9:04 AM Author: exciting stead wagecucks
what do your living expenses look like? the 1.5m growing for 20 years will set you up nicely (assuming 10%/year, $10 mil, assuming 7%, $5.8 mil). if i were you, i'd cut back to cushy part time jobs that provide insurance, if possible. barring that, you should be able to live off the $2 mil for 20 years. i'd either leave it in an S&P fund, or put 50% of it into that and 50% into lower risk bullshit (treasuries, bonds? idk, i don't invest in any of that bs).
you and your lover are right about where i think my wife and i would be at this age if we hadn't had kids. they are fucking expensive man. at one point, i was paying like $4k a month in preschool for both (not each) of them.
Date: September 9th, 2024 9:19 AM Author: exciting stead wagecucks
it is, and i tend to be overly cautious so i get i shouldn't be assuming 10%, but if you go here https://ofdollarsanddata.com/sp500-calculator/ you learn that the annualized return of the s&p (dividends reinvested) since 1930 is like 10.2%, and since 1940, it's a bit over 11%. should you count on that return? no. will you get that return? most likely.
Date: September 9th, 2024 1:32 PM Author: Crystalline stag film
Those are nominal returns. Subtract 3% inflation for real returns. And those returns typically did not follow record high CAPE ratios like we have right now. Use 5 to 7% real depending on risk tolerance.
Date: September 9th, 2024 2:21 PM Author: exciting stead wagecucks
what is the point of adjusting returns for inflation? the actual returns have been an average of 10%, so you can calculate what your money likely will be in 15-20 whatever years. and yes you then have to factor in inflation.
if the s&p gets to a point where it's returning an average of 5%, then stocks might not be a great investment anymore (at least US stocks).
Date: September 9th, 2024 1:03 PM Author: Cowardly Mischievous Lettuce
I'm approaching $2M net worth and looking into other non-law options. How do people deal with health insurance for their families in this situation? COBRA or buying on my own would be like $50k/yr and we'd still have to come out of pocket for shit.
Health insurance is the one thing holding me back. What a country.
Date: September 9th, 2024 1:33 PM Author: Crystalline stag film
You live off investment income that doesn't count for Obamacare subsidies. Create just enough taxable income to avoid Medicaid. Move to an expansion state if needed.
Date: September 10th, 2024 11:01 AM Author: Fishy Generalized Bond
ive made this point many times and been called a communist
its retarded as fuck that USA is the only developed country where you need to have a full time job in order to provide healthcare or else u and ur family are fucked.
and if u dont have insurance, ur medical bill might be 10x higher cuz u didnt negotiate with them in advance of your emergency treatment.
what a shithole. its designed to make you a slave to ((them))
Date: September 9th, 2024 1:12 PM Author: mind-boggling travel guidebook
For a single guy who has already maxed out social security 20 times and is in his mid-late 40s with no prospect of or interest in marriage or kids, then it’s a no brainer to nope out of coastal metropoli and hie to are country, buy a nice house outright for cheap like a 3/2 1800 sqft 300k place, and live off the 50k per year after taxes that 2M generates with a 3% return. Probably smart to get an easy job with insurance like work for school teaching US history and stare at are country teens all day while indoctrinating the next generation against shitlibbery.
There is no point in relaxing because “chill” low-paying jobs don’t exist irl and you’d just get called champ for taking one
The point of FIRE or just building a nest egg is if you get fucked by GC like a Gen Xer and literally can’t find any job anywhere at all, then you can chill and not be homeless.
During ITE, my wife an I had a negative six-figure net worth, we were both unemployed and she was pregnant. Now we have a net worth over $3 million and relatively speaking we are pretty goddamn relaxed
We make 600-700K depending how my wife's firm is doing. We also have two kids. After she made partner she decided cooking and housework were beneath her so that's also costing us
Date: September 9th, 2024 6:03 PM Author: exciting stead wagecucks
180, is she in midlaw?
i'm at a regional midlaw firm with like 700 attys and make just under $500k as an equity partner. is this a TTT embarrassment? maybe so but i'm more preftigious than spacecorn.
Date: September 9th, 2024 5:52 PM Author: Bateful nursing home depressive
If you have young kids, that $1.5M will cover college for 1 child following 15 years of inflation and no growth since your pulling it all out to pay living expenses.
Date: September 9th, 2024 6:07 PM Author: Bateful nursing home depressive
i can't tell when people are flaming. $10M is much higher than I'd need.
With 4 kids, I would not be comfortable even semi-retiring (i.e. i take a chill, low paying job just to pay day-to-day expenses), unless I had $2M outside of retirement accounts and no mortgage.
At that point, I'd have enough to get them all to adulthood debt free and be able to help them out financially when they need it.