What's a realistic amount of money in order to retire and gain complete financial independence, if you have no wife or kids?

DangZagnut · 2020-01-13T06:50:48+00:00

It is lifestyle. You can live like a hobo under a bridge for free.

It’s not your income, it’s what you spend.

Control what your spending and you can live like a King on minimum wage.

Octoxo · 2020-01-13T06:58:39+00:00

You should learn about FI/RE

The quick answer is if you use the very conservative 2% safe withdraw rate (SWR) rule and need $40K/year to live, $2M is what you need in savings. The best SWR is debatable, some claim a rate as high as 4% is okay which would mean $1M is fine for $40K/year.

https://cashmoneylife.com/safe-withdrawal-rate/

You can poke around with this FIRE simulator to get a better idea of how different SWR and investments impact the risk of failure.

http://cfiresim.com/

There are people that claim to retire in S.E. Asia with as little as $200K. I have never read the book, but the idea of moving to a low cost of living area (LCOL) area like Thailand does make sense.

https://mgtowbooks.com/product/mgtows-guide-to-retiring-on-200k-in-se-asia-pdf-mobi-for-kindle-epub-text-to-speech-mp3/

graham993 · 2020-01-13T06:48:47+00:00

I reckon $20 bucks ought to do it! 😀

gtowerthrowaway · 2020-01-13T07:11:38+00:00

$200,000 for retirement in SE Asia, as unending ads on TFM told me :)

It basically depends on what kind of lifestyle you want, and the expenses of your chosen location. Can you give more detail about your goal?

SomeGhostingGuy · 2020-01-13T16:59:39+00:00

Living of interest while all "secure" investments have negative returns and those that have solid returns are way, way overvalued (stocks, real estate..) is pretty much impossible today.

I always say: "I can not take anything with me, but I do not have to leave anything behind either"

My plan is to die with a solid zero in all assets.

clayticus · 2020-01-13T06:41:59+00:00

It think comes to where you want to live and how much you really need per month. If you're frugal you're life will be even easier.

DannyTTT55 · 2020-01-13T08:40:30+00:00

1Mil is fine and very doable

astuteglute · 2020-01-13T09:16:47+00:00

Looking at becoming debt free by tax time. Finding a 4 unit property for 150k. Rent 3 units for $850/mo and find a good property management company to hire. This would get me north of $2k a month on top of my day job.

(+2-3 years) Save up to build a small house in the woods. Leading to another rental unit same property, +850. Almost $3,000 a month plus my day job after expenses. Live in small house and invest again. Hopefully not have to build a quad unit bc buying is cheaper.

Repeat to 4 properties. North of $10,000 a month after expenses. Still going to live in woods. Plan to buy a vacation rental on the water to have a small yacht (my vacation home) to dock.

To answer the question $600,000 in investment property for me to retire. Best part mainly inflation proof bc property value remains the same though the dollar amount changes.

Zachjsrf · 2020-01-13T12:35:49+00:00

Depends on how you wanna live. I grew up with jack shit and was pretty much poor from 18 to 25 before my business took off now I want for nothing.

Think of it like this.

"Be humble like a peasant but eat well like a King" which translates to just living your best life unbeknownst to others.

Morphs_ · 2020-01-13T16:58:57+00:00

Based on 3% safe withdrawal rate (applies to EU, US tends to use 4%), there's an easy back of the hand formula:

NW = DMI / 0,0025

NW = required net worth

DMI = desired monthly income.

jd46249 · 2020-01-14T03:14:33+00:00

$1M and buy notes that pay 10% for 30yrs. You’ll get $105k per year, after taxes about $85k. Spend about $45k every year and reinvest the rest to buy more notes. So if you reinvest the $40k leftover, you’ll give yourself a $4,200 pay raise for next year. And so on and so on...

King_Yautja · 2020-01-13T14:40:08+00:00

Take the annual income you would like to have. Multiply it by 10.

Title	What's a realistic amount of money in order to retire and gain complete financial independence, if you have no wife or kids?
Author	dropitlikeafad
Upvotes	15
Comments	19
Date	January 13, 2020 6:34 AM UTC (6 years ago)
Subreddit	Posted in /r/MGTOW
Original Link	https://old.reddit.com/r/MGTOW/comments/eo0gg6/whats_a_realistic_amount_of_money_in_order_to/
Archive Link	https://theredarchive.com/r/MGTOW/whats-a-realistic-amount-of-money-in-order-to.377141 https://theredarchive.com/post/377141

Comments