How much money would you need to just retire at 40 years old?

[The Moz 69]

My number would be 2.5 million.

 

Even invested very low risk would get you around 120-150K a year in interest alone - a lot more if invested better but with more risk.

 

What would be your number to just quit and still live a life you desire?

[drobeski 3,061]

an ebt card

[NorthernVike 2,080]

an ebt card

[The Moz 69]

you 2 could live the way ya want to on welfare -- men of little needs - congrats

[Phurfur 70]

You live in a country where you don't have to work if you don't want to. HTH

[IGotWorms 3,315]

Yeah probably a couple mill. Would be very hard to stay disciplined and not drain that account though.

 

OK well just for a vacation home. Well now I need a boat for the vacation home, and now my other house kinda sucks so let's get a pool...

[DankNuggs 305]

2.5 mil has to be clear of taxes. So you need to make 4 mil... And those investment gains off of interest are taxable. So that 125-150k is like 85-110k... So you need 3-3.5 mil clear which is more like 5 mil earned.... Better to just get an obamaphone and call in a papa johns pizza on your snap card

[The Moz 69]

Yeah probably a couple mill. Would be very hard to stay disciplined and not drain that account though.

 

OK well just for a vacation home. Well now I need a boat for the vacation home, and now my other house kinda sucks so let's get a pool...

Seriously though -- 2 million -- how much with low risk investment could you make in a year?

[DankNuggs 305]

so let's get a pool...

Got a pool and a pond... Pond would be good for you

[DankNuggs 305]

Seriously though -- 2 million -- how much with low risk investment could you make in a year?

Right now, 65k... Pre tax

[The Moz 69]

Right now, 65k... Pre tax

That's what That would earn in a year with a savings account? Aren't there other low risk options that yeild higher rewards?

[edjr 5,567]

an ebt card

 

quit your job and get on public assistance, yeah you'll have an awesome life. Time to golf everyday, right? I'm sure they take EBT cards. As we know, EBT = unlimited $

[Herbivore 905]

I'm 43, thinking I got 5 years in the biz world tops. Retire, but work to make about 30k a year up in Maine, wife will probably work a little longer. So, payoff the homes, have about 500k in investments.

[DankNuggs 305]

That's what That would earn in a year with a savings account? Aren't there other low risk options that yeild higher rewards?

No, a savings account would earn less... I was guessing around 3% in low risk bonds structured to turn over yearly... Maybe a bit higher with rates inching upwards...

[IGotWorms 3,315]

Right now, 65k... Pre tax

Run those numbers through something like Vanguard's Wellington fund...you need something low risk but higher yield than, say, a strictly money market account.

[The Moz 69]

I'm thinking 2 million invested low risk has to yield at least 100 - 150K. maybe thats not the case

[MTSkiBum 1,594]

What would you do? Sit around all day?

 

Even if I had that money I wouldn't quit working because it would be too boring.

[DankNuggs 305]

I'm thinking 2 million invested low risk has to yield at least 100 - 150K. maybe thats not the case

100k is 5%, 150k is 7.5%... If you can earn that with no risk you are in the wrong profession.

[NorthernVike 2,080]

I'd say $10,000,000 free and clear. With the rising cost of health care, food, fuel. The 100,000 to 150,000 moz can live on would be ever shrinking due to inflation. Think about it, 30 years you'd only be 70. You would have to tap into your nest egg and then the real problems start.

[Thornton Melon 544]

What would you do? Sit around all day?

 

Even if I had that money I wouldn't quit working because it would be too boring.

I might not quit working, but I sure as hell wouldn't work for anyone else. It would be time for me to do what I want to do.

[Phurfur 70]

quit your job and get on public assistance, yeah you'll have an awesome life. Time to golf everyday, right? I'm sure they take EBT cards. As we know, EBT = unlimited $

A family of four making $25,000 a year has more disposable income than a family of four making $50,000 a year. Things are not always the way we perceive them.

[DankNuggs 305]

A family of four making $25,000 a year has more disposable income than a family of four making $50,000 a year. Things are not always the way we perceive them.

that report was a little misleading... There is definitely not a huge incentive to go from assistance to barely above it,

[Herbivore 905]

What would you do? Sit around all day?

 

Even if I had that money I wouldn't quit working because it would be too boring.

 

Fish?, hike, snowboard, teach snowboarding, help friend with their farm, learn to farm, work with another friend that flips homes in a hobby kind of way, mountain bike, golf. I would work a bit, like the teaching snowboarding in the winter, working at a golf course in the summer. I'm working my way back to my teenage jobs.

[drobeski 3,061]

 

quit your job and get on public assistance, yeah you'll have an awesome life. Time to golf everyday, right? I'm sure they take EBT cards. As we know, EBT = unlimited $

I would sell meth and crack on the side to supplement my income, I would use the little baggies I bought with my ebt card. Id get a skank from glaustah to suck cack for an added cash bonus to get new rims

[TimmySmith 2,782]

It takes about 60k per to live a basic lifestyle where I live. I'd say 3m is about right.

[frank 2,145]

Right now, I could get by on about 24k a year after tax no problem. 2-3% increase every year and I would be fine. How much do I need?

[BunnysBastatrds 1,920]

Got a pool and a pond... Pond would be good for you

Kilroy Jrs backyard?

[Phurfur 70]

Why don't you move in with your parents?

[KayJay1971 238]

If I could get 5 million after taxes and then invest that getting 3% annually I could live off that for a long time. I probably would not stop working all together but I would find something that I could enjoy doing every day that I could make my own hours. My wife will probably retire in the next 5 years or so. At that point I would consider stopping all together and doing more traveling while we can still get around well. 

[drobeski 3,061]

I won this thread bigly

[bandrus1 413]

I'm on trajectory to have house paid off at 45.. After that if I was clear of that I could probably survive ok if I cleared 35k a year. I'm not sure how health care coverage fits in this.. of we had to buy our own coverage probably need closer to 50k cleared 

[Cdub100 3,382]

Well you don't need a million dollars to do nothing, man. Just take a look at my cousin, he's broke, don't do sh1t.

[Reality 2,710]

2 hours ago, Cdub100 said:

Well you don't need a million dollars to do nothing, man. Just take a look at my cousin, he's broke, don't do sh1t.

[Patriotsfatboy1 1,432]

Well, if you assume you need 4% rate of return and you need $80k per year to live on, then you would need $2m saved assuming no major health issues. 

Here is the problem - if you are that young, you will want to travel and do stuff. That will cost more than $80k per year.

[Hardcore troubadour 12,656]

[Gladiators 1,904]

Depends on how you want to live.

My FIL probably could have made it on $250k.

I would likely need $5M+

[Frozenbeernuts 1,652]

I was on a great track to retire more than comfortably at 60. Then the divorce happened. 

[Patriotsfatboy1 1,432]

4 minutes ago, Frozenbeernuts said:

I was on a great track to retire more than comfortably at 60. Then the divorce happened. 

Why is divorce so expensive?

[shorepatrol 1,737]

4 minutes ago, Patriotsfatboy1 said:

Why is divorce so expensive?

Because puzzy. We don't think clearly when puzzy is involved. 

[shorepatrol 1,737]

Give me a million today and I'm retired tomorrow. Comfortably,  until I don't want to be alive anymore. I spend all day everyday with old folks. Golden years my azz for the vast majority. Save your anecdotal " My grandpa is 96 and still water skis 3 times a week" sh!t.