How much money would you need to retire?

[Jackman]

1 mio

 

[Big Greek]

I dont wanna retire.

 

[Ironlover]

6.342.123 $

 

[The_Mayor]

There is no "magic number"

Unless you mean a number so high that you could invest in fed bonds and have an income stream that met your needs; but that is pretty unrealistic.

Really though, this is not at all a simple question and the answer depends on so many things. For someone that is fairly young, I don't think you can accurately determine what your expenses are going to be in "retirement," as it is difficult even for someone older.

The key is developing a passive income stream though. Dividends are fine, but there is still a lot of risk involved, even with 'established' companies. Real estate is great if you have any kind of "handyman" skills because you can use a lot of leverage (provided you have good credit) and your rents will rise with inflation.

One thing is for sure--it takes a lot more than most people think!

TM

 

[jdshipster]

By the time I retire, ~15 million. 24 right now, but with the insane costs of healthcare and a very uncertain SS future, I'll be ok with a nest egg of that size.

Yo bro,

I'm 29 and I have been trading since I was 18. After seeing the way the Fed is printing money, I would base your figure in something other than USD. Try basing your needs in gold, or in hard assets like real estate that will appreciate and throw you a cash flow. Unless you are willing to dedicate years of your life to learn trading, I would not look at it as a dollar figure, because most inflation numbers are BS. At least you're thinking in the right direction. 15m goal is a good start, and you can do it easily with steady determination. Start the compounding in your favor now!

 

[US Peptide Supply]

Depends highly upon which state you live in.. Country too for that matter.

 

[US Peptide Supply]

I would go with 1 millon with your mortgage paid fully.

 

[US Peptide Supply]

If your mortgage isn't paid off, then this is where the "depends on which state you are from" comes into play.

 

[US Peptide Supply]

Double Post.

 

[-HIT-]

around 800.000

 

[GreatWhale]

around 500.000 $

 

[mouse]

glad you mentioned it
don't wanna retire, as someone said earlier

 

[BBwarrior]

I have all I need

 

[Progear]

I would consider making now investments that would assure me a good retirement

 

[Gearhead1980]

500.000 s

 

[Performance Based]

I would go with 1 millon with your mortgage paid fully.

500.000 s

Some of these numbers really shock me with how log they are, what type of life style/annual asset stream do you guys expect to live off with such small initial foundations?

 

[pesty4077]

Some of these numbers really shock me with how log they are, what type of life style/annual asset stream do you guys expect to live off with such small initial foundations?

Some people in the USA could live comfortably with a lot less. You just have a higher cost of living. I don't have to retire since my job I don't really need to do anything physical at all. I just direct people, as long as my brain functions I can do for a very long time. I am planning now just too have a steady $3000 a month to move out of the country. You be surprised how they would called that rich in other countries.

 

[Performance Based]

Some people in the USA could live comfortably with a lot less. You just have a higher cost of living. I don't have to retire since my job I don't really need to do anything physical at all. I just direct people, as long as my brain functions I can do for a very long time. I am planning now just too have a steady $3000 a month to move out of the country. You be surprised how they would called that rich in other countries.

I completely understand cost of living. Lets say if person X needs 500K, how long do they intend that money to last them? Will they be living off a percentage or earnings or withdrawing directly from their pot? This is honestly something I know absolutely nothing in regards to.


With that 3,000 a month though would you be renting an apartment or purchasing a home?

Trust me I know! You would be amazed what $20 can buy you in Rural Somalia! haha

 

[Hush]

didn't give it much thoughts, but indeed depends on the cost of living in each country. IMO 5000 k/month is decent.

 

[Hush]

didn't give it much thoughts, but indeed depends on the cost of living in each country. IMO 5000 k/month is decent.

5000 $