Early retirement. 401k

it's very possible if you are willing to live the best years of your life like a pauper, work 60 hours a week and retire modestly.

I wouldn't recommend it, retirement is probably boring as shit. Semi-retirement is the way to go.

If your employer matches your contributions you're missing out on 'free' money

Assuming 10-100x gains will make you rich, what I said is totally reasonable. If someone is investing $200 then there is no hope unless they win the shitcoin lottery.

I'm on track to retire at 30 if crypto continues to grow. I live at home, and I've never been in debt in my life. I save and invest all of my income into crypto/stocks. Currently have a 690k networth, I can retire super comfortably and move out on 900k-1.1m. I'm 28 years old now.

Minimalist lifestyle? What stocks?

You need 2mil minimum to retire at 30.

Or you just use that money to have fun while you are physically able and shoot yourself in the head when your body starts falling apart. Getting old looks shitty.

>you need 2 million to retire by 30

Maybe if you live in California, and already have a ton of debt then yes. If you're single and a shut-in you could easily live off 20k per year. 1 million would easily be enough. My plan is to buy a nice house for 400k, and have 600k invested in something safer like stocks. I could easily make 8%-10% every year with very low risk. No clue where this meme came from that you need 2 million plus to retire, I could retire right now if I wanted to, but I want to be able to buy a nicer home since I will spend the majority of my time inside.

totally depends on where and how you live and invest, i think it could be done on 1.1m if you had to, but it would be shit. i don't know why you would choose to do it.

>he lives in a shithole and wants to be wiped out when bubbles collapse
>8-10%
>no risk
LOL

contribute the amount of money that your employer will match.
>free money is free money, you can always pay the tax if you close it early

What do you suggest then?

Acquiring at least 2 million before you attempt to retire.

Plus you didn't even account for inflation besides the risk of bubbles.

And this is only for foreveralone tier retirement

yes. you can get at the money so why not. roth conversion ladder: madfientist.com/how-to-access-retirement-funds-early/

you could take your $1m and comfortably retire in the third world

or you could develop a small plot of land in to an off-grid, self sustaining farm if you were interested in such things

Actually there are many nice ruralnplaces where you can buy a nice house for 400k. And that's barely any risk at all, my parents have made 10% per year on stocks for the past few years.

>living amongst thirdies
hell on earth

How would you invest the 2 million, vanguard index funds?

it wouldn't be that bad, move to like polynesia and open a bar on the beach

Same as any good investment portfolio

Split between real estate, stocks, bonds, crypto and gold. Not equally split of course, but to a person's situation and desire. No investment is safe from capitulation, especially in this world where all financial markets are bubbles.

What do you mean by foreveralone tier retirement?

No fucking way you are going to have kids on only 1 million @ 30

God damn i can't even imagine what it would be like to have to raise children without at least a 7 figure net worth.

That shit should be illegal. Literally a crime against humanity

Similar question, I plan on drowning myself at the height of my powers (hopefully before I'm 50; when I know as much as I'm likely to know, can do as much &c.), so is it worth throwing money into 401k just for fun?

>wanting kids or a wife.

Normal fag spotted. I'll be comfy and retired while you slave away to pay off debt that your whore wife and dumb kids caused. You could always just buy a hooker once in a while also. Or get one of those 10/10 sex dolls.

Haha people have kids on a lot less and make it work...I understand your reasoning though.

I'd be more worried about getting divorce raped, happened to a couple of people I know. Especially if one manages to profit big off crypto gains, much more to lose.

>crypto is the one asset they can't seize
>oops fuck got hacked fucccckkkk grr reee so mad right now.....

>he thinks $1m will last through 50+ years
Lmao where? Guatemala?

>Oh no the hacker transferred everything to Monero

Invest at least to get your employer match. Wouldn't invest more than that, crypto has much better returns, assuming you're not a moron. Would keep some assets outside of crypto though, have an emergency fund, pay of debt, etc. Life gets stressful if all your assets are in crypto, you have debt, living paycheck to paycheck etc. You'll end up making bad decisions in a bear market, and probably sell at the worst time because you need the money. But I plan on retiring before 65. My 401k is just another portion of my non-crypto assets/ savings fund

It's possible to retire at 38.

if you're a NEET, max out a self-directed IRA and borrow against it if you need money in an emergency

ITT: people who think their 401k will survive the coming US government insolvency

let me remind you that we are dealing with hundreds of trillions in debt and unfunded liabilities in a country that is a demographic time bomb

>8-10% no risk

hahaha let me tell you buddy, safety has less than a 1% yield and even the riskiest assets are only returning around 4-5%.

What the fuck are you gonna do for 50+ years if you retire at 30? You can make 1m last but only if you live a lower middle - barely middle class life.

this : /

If someone is frugal and puts that 1 million in an index fund and sticks with 4% withdrawal rate it can work.

Better than wageslaving for 50+ years.

thank you based coins of bit for saving me from the financial collapse

401k? You mean the boomer shitcoin?

You're forgetting about 2.5% inflation rate.

This implies that your index will grow 4% over inflation. Let me point out how absurd this is.

At 4% growth the index fund will have doubled after around 20 years. Assuming it's a broad index fund it is supposed to loosely represent the economy on an extended timeline.

If you were to double the US economy twice over this 50 year period (which would happen with 4% growth) the GDP would be at around the level of the current global GDP. With that would come the consumption of the entire world.

Can you imagine a case where the US is able to consume that much? The earth is already stressed for resources as ore grade and energy sources decline and environmental assets are tapped out. With current farming practices the average global farm has less than 60 harvests left.

Assuming the future will look like the present but bigger is a massive mistake. We are nearing the cusp.

If you believe this, you can just cash out your 401k. You will have to pay taxes on it, but those are just the taxes you would've paid anyway, and like a 10% early withdrawal tax. But if you got a 50-100% employer match on your contributions, you would've profited anyway. People think 401k/IRAs are locked up forever until you're 65, it's not

fuk u nigger I'm retiring 35

Wouldn't you wanna use that 1m as financial cushion to work on whatever you actually wanna do?

I see...if you had a million then how would you invest it?

I guess one can work part time...call it semi-retirement.

Cash until the downturn, then arable land when prices drop enough. There will be a bad market crash followed by inflation as central bankers and governments do everything they can to continue the business as usual mantra.

You really think things will get that bad? Sounds worse than 2008.

they postponed the 2008 crash. It should've been worse then, but it will be much worse when it finally really happens.

FUCKING THIS.
If your employer matches, it's at least 50% returns

I'm afraid something is up. Just unsure when. Somehow student loans are probably connected.

In theory, if I put a million in index funds, how badly would I get burned in your scenario? Would there be recovery?

yes WAY worse. The entire system is so god damn unsustainable yet they insist on perpetuating and ignoring the faults.

this guy fucks

yes because when people and stores get robbed, the us dollar is at fault. revise your logic, friendo

looks like the correction is almost over, should i buy this coin now or wait??

>whatever you actually wanna do?
bro...you have ambition. you're not welcome here.
the end-game for all of us is sit around and "get paid" off our investments to play video games all day.
get a load of this guy... "whatever you actually wanna do"... oh lord lol

Explain.

Can confirm this will be correct and bigger than the dot com crash too. But if you time this correct, it’ll be the biggest transfer of wealth from boomers to the younger generations in history.

>Cash out Crypto gains
Its a relative unknown what crypto will do the stock market goes into a true meltdown. BTC maybe a store of value, but if things get bad enough, 1s and 0s may prove not be to a safehaven.

>Invest the money in PM and miners
Typically gold/silver has an initial spike in the result of a crash, then crashes too before going into the stratosphere.

>Invest in ‘defensive’ stocks
Have a look at chart data, of when silver/gold starts to dip after the stock market crash phase. Energy stocks and infrastructure stocks like the National grid start to go parabolic,

>Back into bluechips
They’ll be many massive companies that’ll go bust during this next economic cycle due to their debt levels. The high paying dividend quality stocks will come out the other side and very cheap levels. Throw all the gains in these now and live off the dividends and retire.

You all have one chance and one chance only at this anons. It will not come again in your lifetime. Invest intelligently and understand economic cycles. This will all take place over an approximate 5 period not overnight. If the forthcoming financial crisis proves worse than the 1930s, you’ll be stocking up on guns and rice/beans instead.

God speed anons.

Oh man you have me paranoid now...

A 4% drawdown assumes you are netting ~7% per year, the other 3% covers inflation

Some employers will match your contribution. For example my wifes employer pays up to 3000, so if you put 3000 into the 401k the company puts 3000 in so you get a total of 6000 per year

oops that was meant for

Exactly, and 4% is a safe rate that in theory should last 30 years in any market condition...but that other user has me paranoid about investing in index funds now.