How much do you want to save before retiring? If u save that money in your early age, do you plan to quit your job and enjoy life or still work for more money?
If i reach my retirement target I'd volunteer, travel, create art, hookers and blow, the usual. If I get stupid rich then I'd start up multiple businesses, travel to space, carry out epic trolls such as paying thousands of people to protest ridiculous issues, hookers and blow, etc. Life's full of possibilities
I will work till my balls shrink to the size of raisins
Nextdoor do you want to do weekly measurements? I cannot see beyond my beer belly :(
Have no kids, family take care of themselves, no interest in staying in the US. My wife and I could retire with as little as $1-2m.
4% is the best number. Multiple annual expenses by 25x and you can retire whenever you have met that. It is almost impossible to not make any money for 50 years. So in actuality 4% may be too conservative. Just sharing your story can earn you a decent income via blogs or YouTube. So in the end you just keep getting richer every year
Lol, 1-1.5 max, 5 million? Jesus that could get you 200k a year
A decent rule of thumb if you intend to retire before 40 is 35-38x your desired annual income. If you want $100k/yr, you’ll want $3.5-3.8m.
By the 4% rule you need annual desired income times 26. I often suggest 30x for people who retire early for people who want to be super conservative. Where did you pull 35 to 38 from?
This: https://www.americanfunds.com/ria/insights/can-i-retire-at-40.html and a couple other sources. Seems reasonable if you are stretching your timeline by 15-25 years.