What are people's current age and target net worth to retire? I am 32, need to wait till 8Mn by the age of 42 to retire for 15k/month.
Whats your current NW and TC?
1.5mn. TC is 600k (only recently)
I’m not retiring until 60 after investing my whole portfolio in $TGT
You are going to invest everything into Target stock?
38. Need about 80k/year income. Current NW is over 9M. I have no idea when I'm going to retire. When my kids finish college in 17 years? When I hit 59.5 yo? When I hit max SocSec benefit? If/when I finally get tired of working? Never? Who knows
Generally depends when you have kid. Most people wont voluntarily stop working before their kids are off to college or done college. It's tough to leave that high paying job in your 40s to stay at home. And no your wannabe ideas of "travel the world" wont remain as is in your 40s because you would have traveled already and would appreciate luxury more than backpacking sht
You can travel in luxury or atleast in non backpacking shit?
Anyway, are you saying, early retirement is not a good idea? :(
Ya, that's the problem. If we spend the prime life earning money, when do we live?
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That seems unecessary and silly. $15K a month on a $8M principal is a return of 2% per year which is silly. You can do more than twice that now in a HYSA. Invest it all in an index fund and you’ll average 7%. You don’t need $8M to retire at 32.
Dont miss to buy on top 5 down says Else return is 4%
It's is 8Mn at the age of 42