How

Illiterategenius · 2020-05-31T15:53:52+00:00

Just imagine the salary of the average person for your area. If it’s close to 100k, then take that times 40 and you can go to 65. So, bank about 5 mil to be safe and you can coast. But doing nothing gets boring as hell in a big hurry, just gonna warn you. Nobody believes it, but you need something to be passionate about. And for the love of all things holy don’t make it a woman. That will make you more miserable than doing nothing. You have some sort of skill, we all do, hone it and use it.

DangZagnut · 2020-05-31T15:11:17+00:00

It completely depends on lifestyle. Your expenses determine it. Not an amount.

Octoxo · 2020-05-31T16:30:37+00:00

I FI/RE'd (financially independent/retired early) so I have thought a lot about this. The Trinity study says a 4% safe withdrawal rate (SWR) is fine. However, with the rising cost of healthcare and the fact that the Trinity study was done for older people, I decided an SWR of 2.5 is more realistic, but I also can spend less in a down economy. If your cash flow is less flexible an SWR of 2% might make more sense. If you assume an SWR of 2.5% and decide 50K/year is enough to live on, you will need $2M. If you assume an SWR of 2% you can spend $40K if you start at $2M.

https://en.wikipedia.org/wiki/Trinity_study

A useful way to simulate different retirement ideas ->

http://cfiresim.com/

A good sub for FI/RE discussions

r/financialindependence

901735 · 2020-05-31T15:23:24+00:00

Enough.

fredkifter · 2020-05-31T16:36:45+00:00

Given the persistent low interest rates and the cost of health care, I'm inclined to agree with illiterategenius on the $5M. OK, maybe $3-5M depending on lifestyle and location.

For what it's worth, you have to work ten years in the US to qualify for Social Security benefits. Who knows what those will be for someone in your age group now, but it's good to include your future over-65 self in your planning. Safety net. Stuff happens, stuff you didn't anticipate.

mlist50 · 2020-05-31T23:51:38+00:00

Buddy, if you want to retire at 25 ill tell you the secret 1) fuck college. Waste of money and valuable time 2) work in the oilfield. I do flowback. Yes I’m a whore for money. But if youre asking to retire at 25 you have to be a whore. You’re trading time for money. 3) aim to live off 30-40% of your income and invest the rest. Thus the reason I say work in the oilfield. I easily do that. Most jackasses buy a $70,000 truck. Don’t be stupid. You have a goal live like it. 4) try to develop other streams of revenue. 5) Remember KISS. Keep it simple stupid. It doesn’t need to be hard follow these rules and you should be able to do it.

P.s Roth IRA. Fuck your company‘s 401(k) take responsibility for yourself.

SmokeyRamble · 2020-05-31T21:42:03+00:00

5 million.

BreakingLaughter · 2020-06-01T05:40:29+00:00

I know it’s not directly answering your question, but why would you even want to retire at 25?

If you’re financially independent at that age, then I’d recommend looking at starting your own business, as this would reduce your reliance on savings and passive investment income.

An early retirement is definitely something to strive for, but within reason. Finding purposeful work is a blessing.

JojoTheRipper · 2020-06-03T05:08:48+00:00

What’s really important when you consider this option isn’t a lump sum, it’s the steady stream of income necessary to provide your ideal lifestyle. Now, the amount changes drastically depending on what you want to live like, but look into aggressive investing for a diversified stock/bond portfolio for a short time to build a base and then tone it down to safer stocks for an income stream.

This will take time though. I recommend anticipating being able to get around to this at 35 earliest if you play your cards right and save smart from jobs.

Of course, if you have assets already built up, then you may be able to do this sooner.

Remember that there is no guarantee though. Markets change, companies fall — always, ALWAYS have a backup plan

Talk to a financial advisor about this. I’d recommend Edward Jones Investments or John Handcock Investments in that order.

Cheers

delsystem32exe · 2020-05-31T19:14:33+00:00

Ummm if you decided to move out of the US probably only need 300k

jester_554 · 2020-06-01T05:29:33+00:00

This might seem just a little bit diverted from the topic but don’t stress it out, don’t miss the present. Also i noticed comments mentioning investing, the wrong one might just pull you way down the drain.. take everything once at a time & good luck to you all fellas

PatnarDannesman · 2020-06-01T07:40:36+00:00

Choose an amount you can live on. This amount will need to grow every year by more than inflation. Assume a market return on average of 5% ROI. The amount that will achieve es the income you need is that amount you will need to accumulate.

If you need $50k to live on (after taxes) and inflation is 2% pa you will need just over $1m to retire.

Title	How
Author	Sebben971
Upvotes	1
Comments	21
Date	May 31, 2020 3:06 PM UTC (6 years ago)
Subreddit	Posted in /r/MGTOW2
Original Link	https://old.reddit.com/r/MGTOW2/comments/gu0o95/how/
Archive Link	https://theredarchive.com/r/MGTOW2/how.807952 https://theredarchive.com/post/807952

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