Tech employee in my late 30's and contemplating early retirement. I never knew what I really wanted out of retirement, but tonight I figured it out. Whilst stoned. So here it is: I just want enough money to not worry how much Whole Foods costs, and to shop there every day. For the rest of my life. I currently shop at Whole Foods all the time, and never thought twice about it cuz I have a thick, juicy tech salary. It's so good. I don't care what anyone says, Costco or Safeway or anywhere else don't come close to the quality of the meat or the produce in particular. But it's super expensive. I just want enough money to afford Whole Foods every day for the next 40 years. How much money is that???
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Since Amz took over they lowered the price point on a substantial number of items. Why? Because they were overpriced not better quality.
Compute your weekly purchases, increase / decrease it by 20% or more subject to how you think your family situation might evolve (additional or fewer kids to feed, I would rather round up than down), multiply it by 52 (weeks), then by 40 (years), discount that amount to whichever discount rate of your choice (e.g. S&P500 returns, 30Y treasury bond, high-yield account’s return). You get the net present value of your discounted cash flows: you get how much you need to have now note: this is assuming your spendings will be constant in dollar overtime, regardless of how much that amount can get you
Ok but how do I factor in the inevitable hyperinflationary period that will erupt sometime in the next 40 years?
Good point You can make your computations in whichever other currency of your choice, which you think it won’t suffer from hyperinflation in the next 40 years but then you will need to take into account exchange rates (which kills any prediction power) Or factor your guesses into the discounting rate by adding an offset corresponding to your inflation prediction
So your only expense is whole foods shopping?
I'm assuming my negative interest rate mortgage will pay me to live in my retirement home.
I like how we human beings plan our life for 40 years down the line as if we know what happening! You don’t even have a clue if you would wake up tomorrow. You’re stoned! Think about deeper things like the meaning of life and the universe, not Whole Foods 🤦♂️
Target something like PCC bro, whole foods $$ pales in comparison. (PCC if in Seattle, else whatever equivalent you got there)
Nobody knows what PCC means here
Basically PCC is WholeFoods++. If you shop at PCC for a while, WholeFoods would start feeling like Safeway. You must have something similar in Bay area
About 20 mil.
The cost would be equivalent to owning Whole Foods store... so aim for it!
Lol dream big
Move to Oregon. New Seasons makes Whole Foods look like a convenience store.
LOL. Yup, definitely, stoned.