Sign inGet app

Is 3M enough to retire?

Looking to retire early, wondering how folks are thinking about this. Currently have about 2M in VTSAX and wondering how far off I am

This comment was deleted by the original commenter.
Snap MzAW86 OP Feb 23

30

Snowflake Ms.tuna Feb 23

Definitely yes. That’s what I’m doing in 2 years with same nw

SAP oBiD77 Feb 23

Maybe 3m in lcol with paid off home and 20+years paid into ss

SoFi dujewdg Feb 24

You only need 10 quarters paid into SS to get SS starting at 65

Dell Deznut Feb 23

Nope

Apple ButterNutz Feb 23

Annual spending / 0.035 Include healthcare insurance

VMware bugbears Feb 24

Where’s this coming from?

Meta nqGt74 Feb 24

It's coming from the fact that, with high probability, you can live indefinitely while withdrawing 3.5% of your portfolio to cover your living expenses. It's just a slightly more conservative version of the 4% rule.

Snowflake Ms.tuna Feb 23

Yes

Capital One plecks Feb 23

Multiply your current annual expenses by 25x (4% ARR) and that should let you know whether it’ll work or not.

Intuit gftdh342 Feb 23

The only correct answer on here

SAP oBiD77 Feb 23

4% is too high considering op could live 50 years

Meta messydesk Feb 23

What are your expenses now? And do you have a family or want a family? With $3m and assuming a 5% growth per year, that’s $150k pretax per year in spending money. So as a single guy, should be easy as long as you live any reasonable lifestyle

Stripe go/goloco Feb 23

No.

LinkedIn Ry[In] Feb 23

W/o kids, easily

Roku lIl|l|IIl Feb 23

How much with kids?

Stripe Kuntsugi Feb 24

@Roku — I’m setting aside $400K each for two of my kids just for college. I also pay $3.5K per month for daycare for the baby and another $1K per month for various classes for the older kid (RSM, piano, swimming etc.) If you want to invest in your kids’ futures, it’s not cheap.

New
DdBH21 Feb 23

What are your monthly expenses

Snap MzAW86 OP Feb 23

About 60k a year