How much would be the "minimum" needed to retire in late 40s if living in the Bay Area? Pls mention the costs that you are taking into account and why you are suggesting that figure.
$2bn
~33x annual expenses (including taxes)
Lol at retiring in the bay area
$10M
Honestly, why would you want to retire in the Bay Area? Even if you are attached to this shithole of an area rather than looking at the other beautiful places US has to offer, couldn’t you just move 50 miles north to Napa and retire there? You are just one hour away from the bay and you can live with less crazy expenses. Anyway, my non-bay area number is 3-4M.
That’s where I live (Napa). And that’s where I want to retire. Is that okay? My wife says it’s too expensive but by the time I’m forty everything will be paid off. What do you think?
Are you planning to die with no debts? That would be a waste of a lot of money
Depends. No definitive answer.
Depends on your lifestyle when retiring. Personally I'd get bored if I retired so I plan on doing part time freelance to keep my mind busy.
If you already pay off your house, 4-5M, if not, plus the sum of future mortgages.
25x yearly expenses if you’ve got your money in broad index fund. 40k = 1mm 100k = 2.5mm 200k = 5mm Up to you where you want to be in that range.
Hmmmm..i didnt know i could have retired by now 😁
https://www.playingwithfire.co/retirementcalculator Or for an adventure: https://nomadlist.com/fire
$100M