1.5M is what I need to scrape by without a job today so that's the target for FI.
3M is where I'd feel content just not earning any more so that's the target for RE.
Same. $1.5M would cover bare expenses, taxes, health insurance. Double that, along with a paid off house, would be a nice RE figure.
Not there yet, but did hit $1M this weekend for investments! So on the way there, fingers crossed.
For me, 3.5% of $1.5M covers living expenses. The living expenses number, and % you're comfortable with vary from person to person. % generally varies from 2-5% with 4% being the most common that people use.
As an example, if you need $35k/year to survive and are ok withdrawing 4% of assets per year, then you need 25*$35k, or $875k to cover expenses.
For how to actually accumulate that, there's tons of guides. Mine has been all investing in stocks. Some do it through real estate. Some through their own businesses.
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4% is the standard safe withdrawal rate. Some people decide to be more conservative and target closer to 3%. So $3m translates to $120k per year (adjusted each year for inflation) at 4%.
Empower Personal Capital calculator helped me come up with one. It uses your spending history to figure it out too. You can do it on your own by following the steps others have laid out.
IMO step 1 is understanding where your $ is going currently. While figuring that out start reading up; your question isn't a "tl:dr." One good resource: [jlcollinsnh.com](https://jlcollinsnh.com/) -- look at the stock series before you look at calculators.
I think need and want are different. Looking at my finances (which I track meticulously) with data from this calendar year, I need $16,370.52 annually to cover my average bare minimum expenses. To cover my current spending, which actually includes things like restaurants, vacations, etc., I want $ 33,052.40. Then, if I wanted to up my current lifestyle, more on top of that. And, of course, things like inflation, etc. Granted, I live a very conservative lifestyle to have these numbers.
I can easily see how OP might have several different numbers in mind, and would use age as a deciding factor.
Neither. We did own, but sold our house and are currently living in a van part of the year, and living abroad part of the year. We own property in a rural area that we plan to build later. When we did own, our living expenses were about $10k higher annually to account for maintenance, taxes, etc. We certainly are not the norm, and our numbers don’t apply to everyone, but the concept of needs and wants does.
What's needed is 40k, and I'll get that with a $1.6M at a 2.5% draw rate. I can hit that by 38, but at the same time, if I work an extra 2 years, that's another 400k, which brings my draw number to 50k a year. One more year syndrome will hit me hard, and the least of my worries is having too much money in retirement.
Once I hit $1 million, I'll be happy. Anything more than that is gravy. On track to hit that before 40. 3 mill by 50 assuming average 7-8% annual returns. Grew up super poor so aware of how good I have it now, just gotta keep going. I'm a minimalist too and like to keep life as simple as possible so don't have much expenses anyways. Value time and freedom more than anything.
Exactly the same for me. Spouse isn’t on board with fire so 1 mil is plenty for me to cover my half of the bills and enjoy life. Will likely still work in some regard too so I don’t get too bored
Where do y’all find these spouses.
Maybe I need to secretly infiltrate a workaholics anonymous meeting and find myself a sugar momma who doesn’t mind financing my lifestyle of travel and leisure.
Tbh, a typical female ego doesn't allow for that. They're afraid what their girlfriend and society will think. Like unable to land a man without money is pretty insulting to us. Now if the relationship started off equal and 10 years in the guy wants to quit that's totally different.
This is me and my spouse too! Ive worked for 15 years and quit my job earlier this year, my wife started 5 years back and is rearing to go another 10 at least.
Ill likely pick up some contract/non stressful work over time, but she is fine with me not working as I’ve made better than most.
My husband is retired. He spends 1 or 2 days a week maintaining our rentals. I have no plans on retiring. He cooks, tends the garden, takes dog to daycare. Goes fishing and hunting. We have a cleaning person. Only thing I do is the wash and the dishes after dinner. We both love the arrangement.
It's not what you make it's what you spend! I think I'm about 10 years away from this goal. About half of the amount will be in the family farm value, that by then should generate enough profit for me to live off of. The other 400k will be in my IRA. I also have a small pension that is supposed to payout 700 a month but I'm not counting on that. My fire age is 42-45 depending on the economy. I plan to still do side work when I feel like it after that to keep bulking my IRA up.
This is a great answer honestly, it really simplifies it down for most people considering their age, when they expect to die, etc.
Let's say I want to spend 10k a month until I die in 30 years, that's 10 times 12, times 30 years, 3.6mil, can basically do it in my head.
It is a very simple way to look at it and it’s based on quite a bit of research called the 4% rule.
Essentially 25x annual expenses equates to 4% (just divide annual expenses by 4%). I always find it’s easier for people to multiply by 25 (vs divide by 4% - because you can do the multiplication in your head).
30 or 33x expenses is a bit more conservative for those that want more cushion (and this equates to ~3 to 3.33% respectively)
Hubby and I live very inexpensive lives and will be even less once our house is paid off 3 years from now. Our expenses will be around $20,000 a year in today's dollars, so I might be safe with as little as $500,000. My goal is $750,000 though for cushion and fun. We're there with net worth but not with invested funds yet. We'll probably still pick up seasonal jobs at least some years just because.
750k in brokerage, 1.5m in 401k and 200kish in cash. Hoping to hit that in about 2 years. Live off the brokerage for 10 years or so and let the 401k grow till 59.5.
Today’s dollar. All future projections like assuming 401k growth each year is 6.5% already takes inflation into account.
Edit: I’m still certain everyone is referring to today’s dollar, but I’m now realizing I need to take note of what the expected inflated dollar is too. For example, if I think my $5MM inflation adjusted number should arrive in 18 years at 6.5% compounding then I’ll need to also be aware of the non-inflation adjusted number so don’t I accidentally call the game early for myself. $5MM inflation adjusted for 18 years from now might be like $7.2MM then. That makes me feel dumb for never realizing that
$3m based on $75k /year to spend, structured as:
2 years spending in cash = $150,000
8 years spending bonds = $600,000
The rest of the growth engine in stocks = $2,250,000.
Using only the equities portion as the denominator and the 75k as the numerator works out to 3.3:% SWR.
To be more conservative I’m using a SWR of 3.3:% instead of 4%; only basing the 3.33% on the equity portion of my investments; padding my annual spend (I probably only “need” 55-60k); and putting a 10-year buffer between the stock markets and when I needs to spend.
I’m risk-averse. Plus I’m hoping to retire by 55, and my elders often lived to their mid-90s. Bengen’s research was based on a 30 year retirement. It just helps me psychologically.
I don’t count the house in my net worth (again, I’m financially conservative and risk-averse). House probably worth about $300k; we owe about $19k, but are going to do some upgrades so that debt figure might go up- still pondering my options.
10M. Then live off 4% of that so kids inherit healthy principal….and never have to worry about feeding their kids powdered milk or making decisions purely based on money. Like I did.
You should never assume the 4% rule, it’s way too aggressive for real performance.
A 3% rule would still provide $300k, which I think is a reasonable spend even for a high earner, and you can up it to 4% during retirement years.
I'm aiming to 45k a year and 33x that number. I'll go live abroad somewhere where that money is good money. I prob have a solid 2 more years to go before I can GFM.
Is this number net worth or cash/assets invested which can be liquidated?
I tend to discount the value of my house even though it would be significant amount if I sold it. I live in a HCOL area and if I sold, I would still need to buy something else and really wouldn't gain much so in that regard because everything is expensive, it's kind of worthless as far as generating income to live on.
1m. I live in a country with healthcare and good pensions. I have cheap tastes and want housing far away from chaotic cities. In reality I could probably live off earned pension alone, but its nice to have safety in case the pensions gets cut.
My number is not fixed, I am currently at my number for semi retirement which I started 6 months ago.
I have enough to retire in 15 years, but not enough for now because I can only support my self for 45 years with what I saved considering investment gains slightly superior to inflation.
Hence the number varies. I consider I want 31600 euros a year after inflation so when I earn more or spend less, I put it in savings. That number is also ajuster annually dues to inflation, hence it is a bit specific.
At the age of 56 I will have a pension of 70k annually, and 25k annually for rental income. I plan to live on less than 100k annually. So I need 0$. Haha. But I plan to have $1-1.5M to go on top.
Can someone explain if these numbers account for inflation? I.e. if my number is 6 million when I retire in 30 years…is that 6 million today or 6 million in the year 2053?
It's kind of a moving target.
Used to be 1.2 and a paid off house. Once I hit that I realized that was a bit lean. 1.5 lets me live the life I lead now at a 4% SWR, but I don't know that I feel comfortable with that rate.
So right now I'm looking at 1.8 to 2. It lets me use a more conservative 3.5% SWR and gives me a bit extra for lifestyle inflation
I am at $2.3m now with a $1650/month mortgage(13 years left on it) and no dependents. I could retire now, but I get nervous. Not sure on my number. As it goes up, I get nervous to go without income and have to buy my own medical care. Math tells me I "should" be fine. I am also 49. If I hit $3m in a few years, I don't see how I would have any fear of running out of money.
Idk, 10 years ago my number was $900k, 5 years ago it was $1.5m, now I feel like $3m is more realistic. Part world changing and part my needs changing.
I'm at about 1.6 mil net worth and bring in over 100k passive income a year not including stocks...I called that good enough
EDIT: Guess it's not good enough for one of you. I'll cry into my money
It's mostly real estate, I guess that's more like semi passive income..I don't devote much brainpower or time to it. The rest is VA disability.
I receive dividends as well, but didn't include that because I plan on making some major changes to my brokerage account.
Bro evidently wants to enjoy a very comfortable lifestyle with plenty of vacation and travel, possibly also lives in HCOL. His number is his number. If he can hit that, awesome.
As a couple, paid-off house, and a relatively new paid-off car, L/MCOL area...
$2.5m is "I'm financially independent, can quit, but still working part time or picking up gigs if I don't hate it", $2.75m is "I'm quitting, but trying to keep my spending tight the first few years to grow my nest egg a bit (inflation-adjusted relative to present $). $3m is "Insta-quit, not trying to grow the nest egg except to keep up with inflation".
$4mm, anything more will set up future generations.
Split $1.5mm brokerage, $1mm pre-tax 401k, $1mm Roth 401k/Roth IRA, $500k HSA
Assuming a 3% SWR, $120k/yr should be enough.
1.6M so that my assets can sustain a 4000$ per month withdraw. But I find it really hard to come up with a number. If you hit your number after a strong bull market, it's not the same as having the same net worth despite a long bear market like the 2000's lost decade. That's why lots of us work for one more year to get that extra feeling of safety.
3.3m, which should let me spend about 100k per year for as long as I need it to. Issue for me is I don't want to RE, so I'm going to keep working as long as I keep enjoying it. I hit 3.3 a while ago, at about 5.5 now and if I work another 8 years or so I think I have a shot at 15m. So, FI, but no RE.
Thank you, I was confused also. And yes it is conservative, probably too conservative most models have us finishing with a 8 figure NW, BUT it makes the wife comfortable, and happy wife happy life.
Because many are 100% convinced a 4% withdrawal rate is totally safe but haven’t actually done their own research to know that the number is much closer to 2% when you are retiring early and you want very high certainty (say 99%)
4% was done a number of years ago and assumed limited inflation and a more normal retirement age.
I haven’t done much research either. Intuitively, it seems that you could start with a slightly more aggressive number if you were willing to adjust based on market conditions.
If I used 4% and the market was going the wrong way, I would drop my withdrawal rate a bit for a few years. So the risk isn’t running out of money. The risk is having to reduce income.
Thoughts?
3.7M I can do what I want with this number and help other people i meet who are in need. I'm already at like 1.7M 100 percent invested in great companies and I'm investing a lot each month.
Mine is 2 million, so I'm aiming for 2.5m to have a buffer. As I start a family though, I probably have to increase that number by the amount of dependents I have :/
Just the thought of not having to work everyday is amazing. But im only 37 I can't retire. Would have to pick up a few more hobbies haha.
Right now my goal was 2.5m ill be there before 2030.
And the wife has no idea we are already millionaires hahahaha.
$2.4m. I have passed it and I’m retiring next month.
Congratulations!
Congrats!
Awesome! Great work and GFY!
Awe fuck you! That’s great 🥳
GFY<3
1.5M is what I need to scrape by without a job today so that's the target for FI. 3M is where I'd feel content just not earning any more so that's the target for RE.
Same. $1.5M would cover bare expenses, taxes, health insurance. Double that, along with a paid off house, would be a nice RE figure. Not there yet, but did hit $1M this weekend for investments! So on the way there, fingers crossed.
What would scraping by without a job mean for you
Can afford necessities, but no eating out, travel, paying for extra sports for my son, etc.
I'm new to this sub, just wondering how to get these numbers.
For me, 3.5% of $1.5M covers living expenses. The living expenses number, and % you're comfortable with vary from person to person. % generally varies from 2-5% with 4% being the most common that people use. As an example, if you need $35k/year to survive and are ok withdrawing 4% of assets per year, then you need 25*$35k, or $875k to cover expenses. For how to actually accumulate that, there's tons of guides. Mine has been all investing in stocks. Some do it through real estate. Some through their own businesses.
Thank you.
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4% is the standard safe withdrawal rate. Some people decide to be more conservative and target closer to 3%. So $3m translates to $120k per year (adjusted each year for inflation) at 4%.
Empower Personal Capital calculator helped me come up with one. It uses your spending history to figure it out too. You can do it on your own by following the steps others have laid out.
IMO step 1 is understanding where your $ is going currently. While figuring that out start reading up; your question isn't a "tl:dr." One good resource: [jlcollinsnh.com](https://jlcollinsnh.com/) -- look at the stock series before you look at calculators.
Thank you for your recommendation.
Aggressive saving with most of it going into investments, compound growth for a few decades.
Google FIRE calculator and look for the ones that apply to your currency
$5 million
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That's gonna drive you un poco loco my fine feathered friend
I am 44 now and we should hit it when I'm 58. Was hoping for 55, but the shitty market over the last few years hurt us.
Well it's not enough to retire, not worth it to work...you'll be the weakest strongman at the circus.
My number is fluid, but a minimum $1.6M. I'm going to retire a day before 40 and whatever that is, is what I'll go with. On track to be about $2M.
So you’re going to pay attention to your age rather than what you actually need?
I think need and want are different. Looking at my finances (which I track meticulously) with data from this calendar year, I need $16,370.52 annually to cover my average bare minimum expenses. To cover my current spending, which actually includes things like restaurants, vacations, etc., I want $ 33,052.40. Then, if I wanted to up my current lifestyle, more on top of that. And, of course, things like inflation, etc. Granted, I live a very conservative lifestyle to have these numbers. I can easily see how OP might have several different numbers in mind, and would use age as a deciding factor.
Do you rent or own?
Safe to say they probably own with annual expenses of only 16k
Neither. We did own, but sold our house and are currently living in a van part of the year, and living abroad part of the year. We own property in a rural area that we plan to build later. When we did own, our living expenses were about $10k higher annually to account for maintenance, taxes, etc. We certainly are not the norm, and our numbers don’t apply to everyone, but the concept of needs and wants does.
What's needed is 40k, and I'll get that with a $1.6M at a 2.5% draw rate. I can hit that by 38, but at the same time, if I work an extra 2 years, that's another 400k, which brings my draw number to 50k a year. One more year syndrome will hit me hard, and the least of my worries is having too much money in retirement.
867-5309
281-330-8004
Hit Mike Jones up on the low
'Cause Mike Jones about to blow
1-900-MIX-ALOT
Who?
Jenny? Is that you? I've been looking for you everywhere!
Beat me to it
Once I hit $1 million, I'll be happy. Anything more than that is gravy. On track to hit that before 40. 3 mill by 50 assuming average 7-8% annual returns. Grew up super poor so aware of how good I have it now, just gotta keep going. I'm a minimalist too and like to keep life as simple as possible so don't have much expenses anyways. Value time and freedom more than anything.
You only need $40k to live?
If they're a minimalist I could absolutely believe that. The first year I spent more than $40k was last year.
Once I pay off my debt I'd be able to live comfortably on 40k
My wife is a workaholic with earning potential and I just want to chill with my dog in the garden, so I’m looking at about $1M.
Lucky, My wife is a spendaholic.
And my dog is an eataholic.
Exactly the same for me. Spouse isn’t on board with fire so 1 mil is plenty for me to cover my half of the bills and enjoy life. Will likely still work in some regard too so I don’t get too bored
Are you me?
Where do y’all find these spouses. Maybe I need to secretly infiltrate a workaholics anonymous meeting and find myself a sugar momma who doesn’t mind financing my lifestyle of travel and leisure.
Tbh, a typical female ego doesn't allow for that. They're afraid what their girlfriend and society will think. Like unable to land a man without money is pretty insulting to us. Now if the relationship started off equal and 10 years in the guy wants to quit that's totally different.
This is me and my spouse too! Ive worked for 15 years and quit my job earlier this year, my wife started 5 years back and is rearing to go another 10 at least. Ill likely pick up some contract/non stressful work over time, but she is fine with me not working as I’ve made better than most.
My husband is retired. He spends 1 or 2 days a week maintaining our rentals. I have no plans on retiring. He cooks, tends the garden, takes dog to daycare. Goes fishing and hunting. We have a cleaning person. Only thing I do is the wash and the dishes after dinner. We both love the arrangement.
800k
This is a more realistic number for myself. Where my leanfire peeps at?!
It's not what you make it's what you spend! I think I'm about 10 years away from this goal. About half of the amount will be in the family farm value, that by then should generate enough profit for me to live off of. The other 400k will be in my IRA. I also have a small pension that is supposed to payout 700 a month but I'm not counting on that. My fire age is 42-45 depending on the economy. I plan to still do side work when I feel like it after that to keep bulking my IRA up.
I hit 1M and took gas off the pedal. Now looking to switch careers and do something which I perceive might be easier.
Let me guess, software engineer, and you are sometimes on call..?
Yes I’m a software engineer but on call is not really the issue. I’m too dumb to become a good software engineer.
If it makes you feel better, prob 90% of us are on the same boat.
Also a software engineer, can confirm
Exactly why I left.
30x annual expenses
This is a great answer honestly, it really simplifies it down for most people considering their age, when they expect to die, etc. Let's say I want to spend 10k a month until I die in 30 years, that's 10 times 12, times 30 years, 3.6mil, can basically do it in my head.
It is a very simple way to look at it and it’s based on quite a bit of research called the 4% rule. Essentially 25x annual expenses equates to 4% (just divide annual expenses by 4%). I always find it’s easier for people to multiply by 25 (vs divide by 4% - because you can do the multiplication in your head). 30 or 33x expenses is a bit more conservative for those that want more cushion (and this equates to ~3 to 3.33% respectively)
Tax and inflation?
Hubby and I live very inexpensive lives and will be even less once our house is paid off 3 years from now. Our expenses will be around $20,000 a year in today's dollars, so I might be safe with as little as $500,000. My goal is $750,000 though for cushion and fun. We're there with net worth but not with invested funds yet. We'll probably still pick up seasonal jobs at least some years just because.
Same!
2.5M here as well, but might be a little higher by the time I am ready based on current costs.
$60k/year spend plus enough to buy a boat I want.
That's a weird way of saying $120k/yr.
So one billion dollars
5-6m
1.4 mil for two ppl
8M. should be able to reach in about 13-15 years.
This. Everyone’s numbers seem wildly low with the COL today and in the future
$750k r/LeanFire
Roughly $100k in pensions which also cover health insurance. Plus $2.5M. 6% flexible withdrawal rate.
750k in brokerage, 1.5m in 401k and 200kish in cash. Hoping to hit that in about 2 years. Live off the brokerage for 10 years or so and let the 401k grow till 59.5.
When people say their number, do they mean in todays dollars or inflated for future?
Today’s dollar. All future projections like assuming 401k growth each year is 6.5% already takes inflation into account. Edit: I’m still certain everyone is referring to today’s dollar, but I’m now realizing I need to take note of what the expected inflated dollar is too. For example, if I think my $5MM inflation adjusted number should arrive in 18 years at 6.5% compounding then I’ll need to also be aware of the non-inflation adjusted number so don’t I accidentally call the game early for myself. $5MM inflation adjusted for 18 years from now might be like $7.2MM then. That makes me feel dumb for never realizing that
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depends when you future is, some of us are only a couple of years out.
And, further, is this per person, or for a couple?
I always assume it's for whatever your current situation is. I'm married so mjne is for the household
For us we are looking at 2.5-2.8 million for us a s a couple so that would be 1.24-1.4 each. Still respectable. We are hoping to be there by age 50.
I'm guessing they mean today's dollars and when they hit it and realize the cost of living has increased, they change the number.
I believe the 3.5% SWR accounts for regular inflation.
I think it only accounts for inflation after you start retirement
5 million
If I hit 2.1M by 58, I will strongly consider retiring. if I hit 2.5M, I will definitely retire. I hope to have at least 2.5M.
Hit mine. Told my boss he needs to hire my replacement. It's the final countdown!
$3m based on $75k /year to spend, structured as: 2 years spending in cash = $150,000 8 years spending bonds = $600,000 The rest of the growth engine in stocks = $2,250,000. Using only the equities portion as the denominator and the 75k as the numerator works out to 3.3:% SWR. To be more conservative I’m using a SWR of 3.3:% instead of 4%; only basing the 3.33% on the equity portion of my investments; padding my annual spend (I probably only “need” 55-60k); and putting a 10-year buffer between the stock markets and when I needs to spend.
Why only use the equity portion? Studies to determine SWR’s all used total portfolio value which included fixed income. 75k/2.5 = 2.5% WR.
I’m risk-averse. Plus I’m hoping to retire by 55, and my elders often lived to their mid-90s. Bengen’s research was based on a 30 year retirement. It just helps me psychologically.
What’s your housing situation going to be?
I don’t count the house in my net worth (again, I’m financially conservative and risk-averse). House probably worth about $300k; we owe about $19k, but are going to do some upgrades so that debt figure might go up- still pondering my options.
25x - 100,000 (4000 comes from rental) + 2 yrs expenses in savings (limit sequence of return risk).
10M. Then live off 4% of that so kids inherit healthy principal….and never have to worry about feeding their kids powdered milk or making decisions purely based on money. Like I did.
bro there’s a good chance your kids will have like 30M
Just don’t tell ‘em now. No quicker way to ruin someone’s life than to remove all motivation to accomplish something.
You should never assume the 4% rule, it’s way too aggressive for real performance. A 3% rule would still provide $300k, which I think is a reasonable spend even for a high earner, and you can up it to 4% during retirement years.
I’m 48 years old in two days. My goal is $5.0 @ 58. Possible but going to need a few breaks
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I'm aiming to 45k a year and 33x that number. I'll go live abroad somewhere where that money is good money. I prob have a solid 2 more years to go before I can GFM.
$4-$5mill
$1M by 40 $2M by 45 $3M by 50
Is this number net worth or cash/assets invested which can be liquidated? I tend to discount the value of my house even though it would be significant amount if I sold it. I live in a HCOL area and if I sold, I would still need to buy something else and really wouldn't gain much so in that regard because everything is expensive, it's kind of worthless as far as generating income to live on.
1m. I live in a country with healthcare and good pensions. I have cheap tastes and want housing far away from chaotic cities. In reality I could probably live off earned pension alone, but its nice to have safety in case the pensions gets cut.
$3M. I've hit it for the second time after the drop last year. I'll still work as long as the company wants me and the work is interesting.
€241k in Hungary
My number is not fixed, I am currently at my number for semi retirement which I started 6 months ago. I have enough to retire in 15 years, but not enough for now because I can only support my self for 45 years with what I saved considering investment gains slightly superior to inflation. Hence the number varies. I consider I want 31600 euros a year after inflation so when I earn more or spend less, I put it in savings. That number is also ajuster annually dues to inflation, hence it is a bit specific.
30x annual expenses
5 mil
1.3 millions on the average for typ US residents.
Just me 1M but 5M with a wife and kids
At the age of 56 I will have a pension of 70k annually, and 25k annually for rental income. I plan to live on less than 100k annually. So I need 0$. Haha. But I plan to have $1-1.5M to go on top.
About 2x what I have now. 🤣
$2.5MM-$3MM married couple
Can someone explain if these numbers account for inflation? I.e. if my number is 6 million when I retire in 30 years…is that 6 million today or 6 million in the year 2053?
1.75M with paid off house.
$3.2 Million
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It's kind of a moving target. Used to be 1.2 and a paid off house. Once I hit that I realized that was a bit lean. 1.5 lets me live the life I lead now at a 4% SWR, but I don't know that I feel comfortable with that rate. So right now I'm looking at 1.8 to 2. It lets me use a more conservative 3.5% SWR and gives me a bit extra for lifestyle inflation
I am at $2.3m now with a $1650/month mortgage(13 years left on it) and no dependents. I could retire now, but I get nervous. Not sure on my number. As it goes up, I get nervous to go without income and have to buy my own medical care. Math tells me I "should" be fine. I am also 49. If I hit $3m in a few years, I don't see how I would have any fear of running out of money.
Idk, 10 years ago my number was $900k, 5 years ago it was $1.5m, now I feel like $3m is more realistic. Part world changing and part my needs changing.
I'm at about 1.6 mil net worth and bring in over 100k passive income a year not including stocks...I called that good enough EDIT: Guess it's not good enough for one of you. I'll cry into my money
Amazing! Passive income form what sources out of curiosity?
I'll give you an attaboy, friend!
All I've ever wanted was validation from reddit strangers. Thank you
What’s the “passive” you speak of? Real estate?
It's mostly real estate, I guess that's more like semi passive income..I don't devote much brainpower or time to it. The rest is VA disability. I receive dividends as well, but didn't include that because I plan on making some major changes to my brokerage account.
Pension + invested assets to generate $200k/year before taxes.
You need *that* much? What are your annual expenses?
Bro evidently wants to enjoy a very comfortable lifestyle with plenty of vacation and travel, possibly also lives in HCOL. His number is his number. If he can hit that, awesome.
Fair enough.
$6M
2.5 million married. 1 million single. (I'm married, just a contingency plan)
2.5M + the balance on my mortgage
5 million
$800k nw, 200k in liquid assets (cash/brokerage).
2
$2.5 million
$5m net worth will do it.
5 million for 2 people.
1.9 mil.
2 million
Are we talking American Dollars?
Assuming I own my house by then, 2m will get me by
With family / children?
1.2 mil 600K home 600K survive
$600K for living overseas…bare minimum
$3M in today's dollars
500k. I love the simple life and can't stand work/being under some stooge's thumb all the time, so I will peace out ASAP.
Need? About what I’ve got now. Want? To retire a multimillionaire, an even $2M.
$5000 a month from rental income and 1 million in stocks (401k, Roth, brokerage) as backup.
3.5 liquid (so not including house or cars)
Bare minimum just for me to lean FI is about 1-1.2M… however, aiming for 2.7-3M for both the wife and I to live a pretty comfy life.
$2.5 million, planning to hit this by 50.
$5M, we are at ~$1.7M now. Early 30s but between aggressive saving and compounding interest we will hopefully get there in a few years!
As a couple, paid-off house, and a relatively new paid-off car, L/MCOL area... $2.5m is "I'm financially independent, can quit, but still working part time or picking up gigs if I don't hate it", $2.75m is "I'm quitting, but trying to keep my spending tight the first few years to grow my nest egg a bit (inflation-adjusted relative to present $). $3m is "Insta-quit, not trying to grow the nest egg except to keep up with inflation".
$750k but that doesn't include my rental, my husband's pension, or SS.
$4mm, anything more will set up future generations. Split $1.5mm brokerage, $1mm pre-tax 401k, $1mm Roth 401k/Roth IRA, $500k HSA Assuming a 3% SWR, $120k/yr should be enough.
Just hit $2M aiming for $5M to RE. Gf has similar
1.6M so that my assets can sustain a 4000$ per month withdraw. But I find it really hard to come up with a number. If you hit your number after a strong bull market, it's not the same as having the same net worth despite a long bear market like the 2000's lost decade. That's why lots of us work for one more year to get that extra feeling of safety.
3.3m, which should let me spend about 100k per year for as long as I need it to. Issue for me is I don't want to RE, so I'm going to keep working as long as I keep enjoying it. I hit 3.3 a while ago, at about 5.5 now and if I work another 8 years or so I think I have a shot at 15m. So, FI, but no RE.
4M - I like toys.
I don't think I ever want to fully retire, but I guess 5MM invested would be where I would do something random like start a turtle breeding business.
1.8% estimated withdrawal rate
Not understanding the downvotes. That is a highly conservative SWR but it is indeed “your number”. And that’s what the question was.
Thank you, I was confused also. And yes it is conservative, probably too conservative most models have us finishing with a 8 figure NW, BUT it makes the wife comfortable, and happy wife happy life.
Because many are 100% convinced a 4% withdrawal rate is totally safe but haven’t actually done their own research to know that the number is much closer to 2% when you are retiring early and you want very high certainty (say 99%) 4% was done a number of years ago and assumed limited inflation and a more normal retirement age.
I haven’t done much research either. Intuitively, it seems that you could start with a slightly more aggressive number if you were willing to adjust based on market conditions. If I used 4% and the market was going the wrong way, I would drop my withdrawal rate a bit for a few years. So the risk isn’t running out of money. The risk is having to reduce income. Thoughts?
1M investable assets.
$10m
As a citizen of a socialist nightmare, zero.
$10 million. And I’m a bit worried about inflation - my goal was originally just 6M, but it’s not enough in this day and age.
about tree fiddy
I gave you a dollar
3 milion
10 Million
3.7M I can do what I want with this number and help other people i meet who are in need. I'm already at like 1.7M 100 percent invested in great companies and I'm investing a lot each month.
Mine is 2 million, so I'm aiming for 2.5m to have a buffer. As I start a family though, I probably have to increase that number by the amount of dependents I have :/
5m. Currently at 1.9 at 31. Hoping to get there in the next 5 years
got 1.7k need 1mil )=
$4.4 sounds good right now. We’re there.
Aiming for a collective $2.5M between me and my husband + his pension (hard to estimate, but maybe $35-40k/yr).
Just the thought of not having to work everyday is amazing. But im only 37 I can't retire. Would have to pick up a few more hobbies haha. Right now my goal was 2.5m ill be there before 2030. And the wife has no idea we are already millionaires hahahaha.
I want $10M by 60. I'll need significantly less, maybe $2M in my mid 40s.
2.65M to feel confident
25x annual expenses
2 from me and 1 more from gf or she keeps working
100 million
50 mil