How much do you need to officially retire? Posted on May 24, 2023 by Anonymous How much do you need to officially retire?
$0 if you learn to live in your car effectively. Park by Mt. Rainier, WA and drink the water from the ice water rivers, fish at the park and eat the fish. It's all about standards - sure you can live in a house or apartment for $2000 a month, work forever and die unfulfilled, or you can become the stoic God and live in ze car / van
So owning a car doesn't require any money?
you can park for free and never get harassed?
show me some examples of people who do this for any good length of time.
200k for 10 years
200k * 5 = 1 mill = 50 years
I'm 30 and i might not live past 55 so half a il is enough
hmmmmmmmmmm i'd say about 10 million dollhairs :DDDD
$1M but I will never stop working. Just need that much to live stress and worry free.
Not much, like 600K USD. I just want a house to NEET in a small town with low cost of living.
This is exactly what I said in 2020 but housing/insurance/property taxes are too expensive now. Would say $800k now unless you're willing to go trailermode.
$500 million USD
im never going to retire
retirement is a weird state if mind
depends what country. You can make it easily with a few hundred thousand USD and rolling some passive income with that. Personally if my current relationship doesn't work out then I am planning on leaving the US in my 30s for retirement. As long as the retards in office don't fuck up the USD you can live like a king in South America, Southeast Asia or Africa, and maybe Eastern Europe. Depends on your personal preference I guess. For me it's Argentina or Vietnam
>top tier urban america (ny/la/miami)
>top tier urban america
The camera just so happened to be recording a man mopping
If you had $8million in stock earning about 2% dividend yield that would be $160k annual
$100k is life changing money
25x your yearly expenses.
I could literally retire off of 200k-500k easily by living frugally in a rural area.
Which I already do and want to do anyways.
25x your yearly expenses to get a 4% withdraw rate.
So if you spend 2k/month that's 24k x 25 = $600k to retire.
Taxes, inflation, and depreciation also make things more complicated and probably increase how much you need.
i.e. you can budget to live off $2k/month for 5 years but eventually your car or computer breaks and fixing it is $4k. Unless you've been setting aside $66/month in your budget it's going to deplete your savings.
Although you'll probably also get money once you're in yours 60s from social security, if it's still around, which will help.
For me with the way I live right now I need $1.06 million CAD to retire, and my net worth is currently $400k.
I've been thinking about just retiring to SEA though, I think I could do it with $600k, and it would save me from waging for 5+ more years.
Currency conversion risks could hurt, and it would really suck to have to go back to waging after being retired for a few years if it doesn't work out.
Although half my networth is in crypto so if we did get another bull run it's possible I could get pushed into a safer retirement range.
Would be comfy to hit $1million, then retire in SEA for a few years to really make sure I don't draw down my wealth in the early days and improve the chance of it lasting in the long term, while relaxing and enjoying the low cost of living in different countries.
I could probably cut my expenses to $1646/month (so only needed savings of 500k) if I lived like I did in college, sold my car, lived with 4 roommates, paid $0 for entertainment, cooked cheap for every meal, and took the bus everywhere.
Probably could cut them even less if I lived out of my car and used a gym to shower, and used a propane burner to cook, and a cooler of ice instead of a fridge.
Of course I could just retire with $0 and be homeless and rely on charity for food but I don't want that kind of life. I'm certain there's a lot of happiness and fulfillment that can be found in it though.
its an accomplishment to reduce reliance on slave debt notes. not many people can see that though.
All a person needs is a monk's robe and a begging bowl. The mendicants had it right all along.
i lived exactly like this for like 5 years, even had the box fan and cardboard box next to the bed
best years of my life
those normalfag articles talking about retirement are assuming you're a giganormie who eats out, travels, drives a nice car, does home-improvements, has expensive hobbies, etc.
Nice setup. Here's my trading station.
i would quit my job if i had 100k right now, maybe even less. quit with 60-70k probably. retire i dont know, probably i could with 1m. i have my own apartment so my monthly expenses are low, around 50,60 euros for bills + 200e food and 100 euros on cigs. if i could earn 1000e monthly from crypto staking or some shit i would quit my job. wagie here working 6 days a week for almost 4 years now for 800euros. rip