Once ur investments can safely (let's say at 3% returns to be conservative) hit that for life, u r outta here. Mine is: 10k per month. So I need 4MM in total investments (not incl home). I am about 60% there. Hopefully in 5-7 years. Obligatory TC: 400k, going to 500k from Sep. Edit1: the 10k for me includes paying gap medical insurance for two (and mortgage if retiring in less than 10yrs (so yes)). Edit2: in my case, I am assuming kids college is already funded and they have flown the coup.
$10k a month is fine with me as well. I would still be in the rat race š (so that I am eligible to have an opinion on Blind) but I wonāt sweat over it.
This is plan B for me... Downlevel maybe or just see how long the momentum takes me. But not sweat it.
10k per month after tax or before tax ?
Kids ? College ? Property tax ? Health insurance ?
All included; in my case, 529 done for kids at 100k each. Masters will be their own.
Is 100k good enough for college? I was thinking of $200k for each kid.
400k at Microsoft? What are you an EVP? š
Just a lowly M1
Principal with good stock appreciation?
3% is super conservative fyi. Trinity is up to 5.5%. That said more interested in how you go from 500k to 4m in 5 years? After taxes that's 1.5m in 5 years. Assuming you have zero living expenses you are either expecting a 35%/ return or already have 3m?
Where did you see it's up to 5.5%? What's the portfolio recommendation today?
Same recommendation, 5.5% is the new 4%. Still based on 30 year though so 3% is fine for op who is likely trying to retire in their 30s.
$15k before tax
šš½
Mine is $7200.
Precise. I like it.
I'm not sure how best to calculate my number. Any advice?
Google FIRE calculator
It's the monthly budget you expect you'd need after retirement. A rough estimate is how much you're spending now x 0.8. You can be more precise by creating a full budget for yourself and those who you'd support. Divide long term expenses by 12 to make them monthly and add those too.
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It's hard to predict the future. What do you plan to do when you say Outta here? What if we have a massive massive crash and all that wealth amounts to nothing. If you continue to track, you will be better off. How do you know what investments will still hold up in the future? I'm a probabilitic guy, not a doomslayer so honestly asking these questions.
Yes but the way I see it is that Iām guaranteed to die and the longer time goes on that likelihood goes up. Life is short.