👆 TC: 300K
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There's retiring and just existing the rest of your life and then there's retiring and living for the rest of your life. I am aiming for the latter.
3,
I genuinely want a career that I don't have to "retire" from.
People never get satisfied, remember?
If there were 100m in the list will it not be the most voted?
Naw, given that 10m+ is barely winning atm, I doubt it.
Who is voting for over $3M. at a 4% return you’d have plenty of money especially if you pay off your home. The Crazy’s voting 10M your outta your mind.
True, but as people mentioned, there's a difference between not needing to work and enjoying your life to the fullest without working. The latter requires much more money.
It's interesting that so many people think enjoying life to the fullest = spending ridiculous amount of money.
$4mm and paid off mortgage sounds about right, so I guess that's around $5mm net worth.
Assuming 4% safe withdrawal that’s $160k (with zero housing cost). How do you spend $160k/year? Definitely sounds like overkill to me. I spend $60k/year now INCLUDING housing, about $40k without housing. So I need $1m and a paid off house, or $1.5m. That’s pretty lean so I’d double it to $2-3m for comfort.
Salesfarts (lollll) you and I are very similar in our thought process. I feel the same.
10m at 3% gets you 300k a year or 25k a month pre tax. I want to travel a lot, fly business or first everywhere and stay in nice hotels.
$300K is a hell of a lot if your primary residence is paid off. (Arguably it’s a hell of a lot even if it isn’t) If you fly that regularly, you’ll have status and won’t need to buy first class tickets to ride first class most of the time.
You can easily retire on $3M or less if you're willing to fly economy and stay in good (but not fancy) hotels. Those items are a total waste of money. A $50 restaurant meal is not 2x as good as a $25 restaurant meal; in fact, it's often objectively worse even when disregarding the price. Similarly, a $450 hotel room is not 3x as good as a $150 hotel room. The latter often includes a good buffet breakfast.
Greed is endless, so 10M+
If even at 5m you can't find a way to put your dollars to work and exit the race, then I'm not sure if you ever can
☝️ that's fear and that will always be there even with 50m
Why do you assume that putting your dollars to work translates to investments only? Why can't it be starting a business that hits big