How much money do I need to retire in my early 20s and live very frugally?
How much money do I need to retire in my early 20s and live very frugally?
Henry Hernandez
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Henry Martinez
How frugally do you live? Where do you live?
kys for such a lazy question.
Daniel Campbell
Absolutely nothing. Just live in the forest.
From there on, every cent that you have saved up will only increase your comfort levels though.
Tyler Anderson
I honestly believe that I could very easily live for the rest of my life on 300k
Kevin Reed
$100 a day.
Connor Bell
I'm aiming for 10 million, I want to live really comfortably for the rest of my life with apartments in various places of the world.
Ayden Johnson
post your expenses
$1m if you live frugally and follow the 4% rule
Isaac Butler
>$10m
how much are you making currently?
John Russell
What is the 4% rule?
Alexander Williams
Go apprentice under some homesteaders in Yukon or Alaska and by the time you're 30 you'll know enough to make it on your own
Parker Anderson
Charles Russell
>cant even google "4 percent rule"
Ethan Rivera
4% is the "safe" rate of withdraw per year from your retirement account so that the amount will be replenished each year by it's investments.
Camden Parker
4% is overkill. 5% is more realistic
$500k would yield $2k/month which is more than I spend living in a HCOL city
Jackson Richardson
200k in a tracker fund will net you about 20k a year which will allow you to live comfortably playing vidya and eating tendies. You risk getting wiped out by a financial crash though and having to re-enter the workforce.
500k in a tracker fund should give you ~50k a year which will allow for a much more relaxed and comfortable existence.
1m to make it, at that stage you can buy a house, start a business, pursue what you love.
Levi Cruz
>the 4% rule
Does not apply
Thomas Ross
For me the cut off would be 5-10 million. I really want to buy a comfy condo somewhere in NYC and buy all the shit I've wanted. Also to travel, rent houses for huge Project X tier parties, top tier drugs, hookers, clothes, tech, etc..
Evan Flores
>Top tier house parties
Why not just own a club?
Jack Bailey
I feel like there would be more people that'd be able to come to a house party than a club party
Parker Sanders
If you own the club you can invite who you like. You can hand out free drinks like they're going out of fashion and roastie whores will be all over you.
The only way a house party would be superior to a club you own is if you had a nice hot tub on the dancefloor.
Anthony Barnes
>Does not apply
Huh? Are you not a human person living in this timeline?
4% is prudent, 3% is overkill or leave an inheritance.
Caleb Gray
I always thought setting up an old house as a club would be a good idea, then you get the best of a club and house party mixed into one. Only thing is it would have to be the middle of no where to avoid license issues.
Jack Williams
You are all dreaming. People never fully account for inflation. The market might be doing well right now, but if you look back over the last 20 yrs and then take out the ~real~ rate of inflation (not the gvt bs), you'll see what I mean.
The guy who takes out 4% per annum might see a fairly stable balance in his account, but the buying power of that money will be constantly diminishing.
Zachary Lee
Please don't mean that shadowstats junk about inflation. Government numbers make much more sense than those.
Btw, 4% is meant not to be stable but to just stay above broke for 30 years. It's going to deplete, but usually you'll die of old age first. And you take 4% of the nut at the start and increase every year for cost of living, not a flat 4% of the balance every year.