How much is making it with crypto?

True enough

t. butthurt newfag reddit types that literally have nothing but name calling, wherever they go
>even when they are a few years late to a money making party and are talking to people that will likely be employing their tard asses into the future
kek

lmao at OPs image implying retirement should be based on anything other than hitting your number
>bachelors can retire with even MORE money than associates
If they were so smart, they would have just retired earlier.

>your 1.7 mil is only netting you around 40k per year after taxes.
A basic savings account pays 5% in the UK. I'm assuming you can get the same in burgerland. That's 85k pre tax or about 60k after tax a year on 1.7m. 1k+ a week is pretty comfy if you own your house imo.

>A basic savings account pays 5% in the UK. I'm assuming you can get the same in burgerland.
AHAHAHAHAHAH

In Burgerland it's more like 0.25% (before inflation)

>Move to Portugal. Pay no taxes on cryptos. Buy a nice villa. Drink delicious cocktails. Continue to shitpost Veeky Forums.

Me in 12 months. There's easier lives to be had than what you posted user.

Really? Even if you have 1m+ would you not be offered a decent rate?

Maybe 15-20 yrs ago. Leaf here and it's the same

1 bitcoin

Making it is 100m+ after tax.

i'd need $3MM post-taxes before i'd be comfortable throwing in the towel at wagecucking

Average salary is about 50k a year. So in my eyes, if you make 1 mil lump sum, you take it out and invest in stocks and other normal investments and can expect 7% annual return. That means you will make 70k a year you can call your 'salary'. Note that this it capital gains so you pay less tax on it, meaning it's more like 90k a year before tax from a normal job.

If you can do that, and live quite comfortably and better than the average American without needing to work, you have made it. Everything else is gravy.

My comfy middle-class retirement number is $5 million, for me to retire with a middle-class lifestyle in my current city, which is insanely expensive.

If you google for financial independence and early retirement, or even just the term "safe withdrawal rate", you'll find that as long as you can live off some percent (most sources I read said 4% - I want 3% just to be safe) of your savings, you can quit your job and invest your savings and be unlikely to need to worry about working ever again.

The stock market, for example, averages a return of 7% after inflation, if I remember correctly. So just dumping a few million into an index fund at Vanguard probably wouldn't be the worst thing.

I am making >$200k/yr as a software engineer in a major city at a FANG company. I pay $2,500/mo for a studio apartment. It would take me 5 million dollars of investments in order to maintain my current income if I was living on a 4% withdrawal rate. I actually save like $50-60k/yr, so I could probably maintain my lifestyle on a SWR of 3%, but still... 5 million dollars is a lot to save.

If I was willing to move to some place cheaper, then maybe 2 million dollars could work. For this, I'm assuming still 3% for SWR- out of $2M * 0.03 = $60k/yr, I'd plan to live on $30k/yr, with the assumption that the remaining $30k/yr would be the cost of my health care in old age. Don't forget that most of you live in America and there's no universal health care. That shit is expensive when you're old

Agreed.

Actually, let me say, I think you have the right idea, but stock prices fall, too. You're going to have trouble staying retired if you actually try to live on 7% per year.

Google "safe withdrawal rate" and read what others have written about financial independence before you decide to relax on 7% per year.

Yeah fair enough, maybe you would need to increase it a little then, but I think 2 mil is quite high still. Because you have this money in the bank you no longer need to save to retirement.

So even at 1.5 mil at 3% you would be getting 45k to live without needing to save anything, and again that is from capital gains so it would be like earning more. Also I don't imagine id just sit on my ass all day , I'd rather just pursue hobbies or other ways to make an income that are more meaningful and that would supplement your lifestyle

One can always work a part time job 20 hours a week in addition to living off interest.

In the UK you can get 5% in a long-term savings account, where you have to give 3 months notice on withdrawals. Banks offer better rates if you have a decent amount of money though.
Friends brother works for a bank and his job is to take people out for dinner/golfing/whatever they want to do to keep clients happy.