Just wondering will a MBB Consultant have enough money to retire as a senior partner? I heard they make a million or so per year.
Is it possible to own a nice home on a small island, 3-4 nice cars and a comfortable lifestyle (support a family of 6-7).
Or only bankers have that privilege?
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I guess they earn around 3+ depending on the firm, year, seniority and some other factors. Do the math for the islands, house, cars and the family :)
Is this supposed to be the pinnacle of happiness or something?
Does the island have to be small?
@greymn Thanks. Will :P
@kobalt: Not the pinnacle, but a step towards the pinnacle. Haha.
These questions are always fun. Focus on the 500 meter target after you can hit the 25 meter target.
You'll know when you need to know.
running calculations, how many palm trees do you want? and what nationality do you require the island guards to be?
How Old Before You Retire? (Originally Posted: 04/25/2012)
I’m sure a lot of people here want to make a lot of money quick and then retire early. But will this be possible given new regulations, an increasing life expectancy and another likely increase in tax cost of living in the coming years….?
I was reading this article: http://www.bbc.co.uk/news/business-17831877
Do you think £211 ($340) is enough per week?
What age do you want to retire? What do you think the retirement age should be?
GBP 211 = USD 3400 = EUR 3200000 = JPY 13
haha.
really depends on how my taxi cab/limo service business goes. It has been keeping my extremely busy for a college student. I will likely hire more people to manage logistics while i pursue my ib analyst gig. I hope to put more time in the business and grow it until I am 35/40 years old and either go remote control CEO or sell it to a larger cab/limo service in the region.
IPO
Just curious oldmansacks, why do you want to pursue an ib analyst stint if you are running your own limo service business? If your end goal is to exit it for a good price, why won't you devote to it full time?
On pace for 52...50 if I start to give a shit at some point about saving.
I will retire when I'm 80, but I plan to live till 120, so nbd there.
I think that $10MM is a reasonable amount to retire with. $17k/year is not enough.
Never retiring like Jiro Ono....if you're working on your passion, there should not be a reason to retire unless you become physically impaired.
http://en.wikipedia.org/wiki/Sukiyabashi_Jiro
[quote=Unforseen]Never retiring like Jiro Ono....if you're working on your passion, there should not be a reason to retire unless you become physically impaired.
http://en.wikipedia.org/wiki/Sukiyabashi_Jiro[/quote]
100% spot-on. People who retire early are often bored as hell and they die young. Think about it - how would you like it if your life were summer vacation permanently? Summer vacation when you're in school already gets painfully boring if you're not working/doing something. In my mind, sure I don't want to be slaving away, but I do want to be technically working at least into my mid-70s. It's a fact of life that we aren't happy unless we're engaged and reaching a new goal. Ideally I'd love to be in some sort of advisory role where I could take breaks, go on vacation, have good hours, etc, but the idea of permanently retiring at 50, when you should just be reaching the prime of your career, would make me want to blow my brains out.
I don't think I'll ever fully retire, maybe work part time in my 70s and 80s or until i can't anymore. Work is mentally stimulating and it gets older people out of the house.
I think if you do what you love theres no such thing as retirement. One way or another its better to keep your mind occupied in something. Even rich people open charities, are on a board for a firm etc. I think to get rich you have a differently mentality altogether so those that get rich are not actually thinking they will become so rich. Just my 2 cents.
Anyone else having an issue with 211 pounds being worth 3400 USD or am I missing something?
I don't know about anyone else but I would love to retire ASAP and travel before I am too old to move around.
I already explained it above... geez...
I want to be financially independent by the tim i'm 30 years old. I'll be 24 when i graduate.
Anyone have any tips to get my retirement planned in 6 years? :P
You want to know what's going to you when you retire? The samething that happened to Mr. Krabs when he tried to retire from the Krusty Krab
But in all seriousness, I'm not crazy to working a day job until I'm 90 years old. I want to be on the board of firms and non profit organizations...I think thats enough to keep me busy. I would like to spend the rest of my time with my family..not in front of a computer (or whatever we are using to do work 40-50 years from now)
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