Current TC 250k - inherited 1.5 million 2 years ago. Own 3 properties - total equity 1.2 million 1 is paid off and generates 2k per month 1 has a mortgage that is covered by renters The last one I live in with about 400k equity Investment stocks - 750k 401k - 125k Do you think I can retire by 40?
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Worried that our top performer is an attrition risk. How do managers handle this?
Lol, yes. Are you "Blind"?
If you need to ask this question on Blind, then either you are showing off or incredibly "blind". Nevermind the pun, I meant to say " dumb"
Stop trollin
Show off
You could retire now if you managed your expenses a bit.
I forgot to mention I live in LA where expenses are high
Hahaha, that is cute.
Thanks
No. Understand self sustainable cash flow and that will answer by itself young one. #•_•#
If your annual expense is around 120k, most likely yes. If it's 500k, likely not. Net worth and savings is only one part of the equation. Multiply your annual expenses by 25, that's roughly how much you need to retire.
Annual expenses are around 125k
You should be fine to retire by 40 then. As pointed out in one of the replies below, the 25x rule (a.k.a. 4% withdrawal) assumed 30 years in retirement. At 55 years in retirement, you should be looking at 3.5% withdrawal, i.e. investable asset of 125k/0.035 = ~3.6 million. So there is a good chance your current asset grows to that by 40, but you should be prepared for some flexibility.
You can retire right away.
No. I'm assuming by retirement you mean live off your assets and not alternative definitions. With that view and for retirement at 65 a rule of thumb is the 4% rule. This means your withdrawals should start at 4% of your retirement assets then you adjust that number every year for inflation. This isn't arbitrary: see wiki entry: https://en.m.wikipedia.org/wiki/William_Bengen#CITEREFBengen1994 and original research paper here: http://www.retailinvestor.org/pdf/Bengen1.pdf for details. This research is for a 30 year retirement. If you want to retire at 40 you need to plan for a 55 year retirement. To do this with any reasonable chance of not running out of money you would need to live on a pretty small percentage of your assets. To make that withdrawal amount a good income replacement you need quite a bit more.
Good point.
Yeah