What's your dream age / income / location for retirement?

fine-nance's picture
Rank: Gorilla | 678

It's never too early to plan for your retirement.
An estimated median annual household income among retirees is $32,000.

32K, in my opinion, is pretty low but sustainable. My ideal situation is to retire when I'm 55, with income of $50,000/yr, and perhaps settle somewhere in the suburb of Florida.

What about you?

Source

Comments (125)

Jul 14, 2016

Grandpa always said retirement was the worst decision of his life - and he did manual labor. You need hobbies otherwise you'll bore yourself to death. I think I have some okay hobbies, but it wouldn't hurt to consult on the side or something for a few hours a day.

That being said, I would agree that mid-50's would be cool. Get some traveling in, some fishing and hunting, more gym time, etc. Would also hope for mid $50's sustainable income, and I'd settle down in the middle of nowhere (where else could I hunt and fish on a moment's notice?)

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Jul 14, 2016

you're planning the wrong way. don't target a certain level of income in retirement, because most retirees clip coupons and bitch if the AC is on because the power bill goes up by $5.

strive to save the highest % of income you can as long as you're working, be an all equity investor at least for the next 25 years, and assuming you saved double digit percentages (10% doesn't count), you'll be wealthy and be able to live well after your career is done.

Aug 2, 2020

Where do you find equity investments?

Funniest
  • Trader in VC
Aug 2, 2020

A simple google search would have provided all the information rather than replying to a 4 year old post.

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Jul 14, 2016

Retirement is still going into the office (or checking in or whatever the world looks like then) for half days and going on two month-long vacations during the year. Second residence in Charleston and a third somewhere foreign. Still should be making money from investments/work.

If I'm not there, I still have some work to do

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Jul 15, 2016
CRE:

Retirement is still going into the office (or checking in or whatever the world looks like then) for half days and going on two month-long vacations during the year. Second residence in Charleston and a third somewhere foreign. Still should be making money from investments/work.

If I'm not there, I still have some work to do

Amen

Jul 15, 2016

I'll be slinging MBS til the day I die, son

Joking

Age 55. Money ain't a thing. Ideal setup would be a small ranch compound an hour or two outside of Dallas, tooling around in a John Deere Gator, cigar in mouth, between the main house and a barn where I'll have a trade station setup that I'll escape to when my busty, freckle-chested Florida beach mama wife is making too much a racket with that damn blender. She'll make a mean margarita though.

Jul 15, 2016

Equities in Dallas

Jul 15, 2016

Dude. That sounds fucking terrible. 50k? And a suburb in Florida? Jesus. So from a financial planning perspective where you're pulling 4% and all that, what is that, like $1.2M in the bank? According to my trusty calculator, that's $500/month invested for 40 years averaging 7% returns. That's not a lot of savings, and that's not a great return. Just throwing it out there. Oh FYI, I live in a "suburb" in FL and make more than $50k a year. It doesn't go far.

As far as actual retirement goes, I'm in RE in an entrepreneurial type of role. Lets just say I have a number in mind and I haven't hit it yet. But it's enough that I have a second home somewhere, possibly a third, and can take 2-3 weeklong trips a year to places I'd like to go and not really worry about how much I spent on dinner and shit. Maybe not quite private jet wealthy, but maybe I can charter one for special occasions or get a NetJets card. My problem is that I like toys, and toys can get expensive. So I'll probably never fully retire, but I own properties so I'll always need to be somewhat in the game anyway, just to continue growing the investments. Plus side is that it doesn't exactly require a ton of time from the majority of the time.

I think as we continue to move forward with the economic situation being what it is, you'll see a lot more "working retirements" from older workers that can swing it, and a lot more people retiring early because they can't find a job. Hell my dad retired about a month ago. Then 2 weeks into it his buddy called him and wanted him to come in as a "consultant" and fix some issues in his firm. Turns out he really needed a new Operations guy so now my dad, who was retired last month and thinking about doing some consulting is back working 80 hours a week because he was too bored to sit at home and the right opportunity came along. It's not even about the money, though that didn't hurt. Retirement is great, but unless you've got fuck you money wtf do retired people even do all day?

Jul 15, 2016
thexaspect:

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p>Dude. That sounds fucking terrible. 50k? And a suburb in Florida? Jesus.

There are all of these new age blogs that support it. My girlfriend's best friend's significant other just "retired" at 35. He was head pharmacist somewhere pulling in 6 figures and decided that he could live on $28,000 a year from savings and investments for the rest of his life. Dude's a real hipster. He doesn't do things to be ironic or scene or fit in with the other weirdos or whatever - he legitimately is that...unique.

Anyhow, this concept is a thing now.

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Jul 15, 2016

I mean, I hear you, I just don't understand why the concept is a thing now. It just blows my mind. Don't get me wrong, I'd love to be retired at 35. There's just no room for error. $28k a year just isn't financially secure in my mind. And especially at 35, I've got kids and shit man, what about their education? Weddings?

To those of you youngin's and hipsters out there, I'm not saying you need 9 figures to stop working, but just consider all of the things that you'll need to eventually pay for. If you "retire" at 35 with just enough to live off of forever, good for you if you also plan on never getting sick, getting married, or having kids. But medical bills add up in 30 years. Kids aren't cheap. Kids in an area where they need to go to private school so they don't get shot are even less cheap(where I live). Your kids are going to get married and have kids of their own. Are you not going to want to be able to visit them wherever they live? Unless you're all together in a commune somewhere, guess what, plane tickets are expensive. Oh and btw, if you're counting on SS to make up the difference when you turn 65 or whatever the age is now, it's calculated on your years of earnings(contributions). And if you stopped earning anything 30 years before, well, it's going to be a small(ER) check.

There are just so many variables. Plus, the guys a pharmacist, so a reasonably intelligent and contributing member of society. What a waste.

Jul 15, 2016

Go to a retirement home. Sleep all day. Have wild lan parties every night. Profit!

You killed the Greece spread goes up, spread goes down, from Wall Street they all play like a freak, Goldman Sachs 'o beat.

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Jul 15, 2016

You forgot all of the old people sex. Woohoo viagra!

Jul 16, 2016

Pwning noobs in CS:GO will give me a massive hard on so no need for medication.

You killed the Greece spread goes up, spread goes down, from Wall Street they all play like a freak, Goldman Sachs 'o beat.

Jul 17, 2016

If I could die after eating a really good donut I'd be ok with that.

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Jul 17, 2016

You should funnel this energy into your job and you might actually make it on that yacht.

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Jul 17, 2016

I feel like a prenup would be easier

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Best Response
Jul 17, 2016

I would imagine that hitting 30 (or adulthood, whichever comes last) is going to hit you like a ton of bricks.

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Jul 17, 2016

Honestly I'm not amused. These posts are getting to be just the same type of thing over and over and over

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Jul 17, 2016

No kidding, and was marginal the first time as well. Trying to be Leveraged Sellout without any substance or capacity for humor. I assume the cutoff between SB and MS for these posts is students vs workers, respectively

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Jul 17, 2016

wannabe jordan belfort

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Jul 17, 2016

I laughed.

Jul 17, 2016

I'd rather travel the globe and throw it in top tier pro's from emerging and frontier markets until I die of a mixture of unknown strains of drug resistant STD's. Or move to Mexico and use my superior financing capacity and intellect to muscle into the drug cartel business, only to die years later in battle in a bid to take over the Mexican government with my cartel army. Might have to lay off the liquor to accomplish the second one

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Jul 17, 2016

Someone gets it.

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Jul 17, 2016

Fear the Bulge is the kind of person that can recite the entire script of Wolf of Wall street, and comments on all of dan bilzerians instagram posts: "DUDE UR THE G.O.A.T WE SHOULD HANG SOME TIME"

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Jul 15, 2016

I was a ski instructor in the Rocky Mountains after I graduated a semester early from college and before I started my FT job with my current MM bank. It was a great six months and I miss every second of it. It was incredible waking up everyday not having to worry about what email I was going to have to rush to respond to, or what deadline I had to meet. All I needed to do was put on my instructor uniform and teach some kids how to ski and enjoy the sport I love. It never felt like work.

One thing I noticed is that a lot of the older instructors were former businessmen, retirees, or intelligent individuals that leveraged their connections to have a constant stream of private clients that paid over $1000 a day for lessons. I came to this realization after I got booked to teach the CEO of a major beer company and his kids. I literally spent the entire lesson just talking beer, business, and taking them to cool places on the mountain. After mulling on it for a while, I think that would be the best retirement option for me.

You're in the Rocky Mountains, beautiful scenery with endless activities to do in the winter and the summer. You are still technically "working" because you are teaching individuals to ski, but skiing is a great sport that is fun at any age and at any level. Investment Bankers and other similar individuals love to ski so why not leverage your connections and rake in the private clients. Clients love the idea that their ski instructor is A) an excellent skier B) knows their industry and the lifestyle that accompanies it. People always talk about retiring on the beach and just drinking Pina Coladas all day. Why not retire in Vail or Beaver Creek and drink Moscow Mules?

It's only my first year but I have a general outline for how I want to achieve this:
- Save and invest aggressively (not hard with an IB job)
- Marry, have kids, ship them off to school
- Once empty nesters, sell the house
- buy house or condo in Vail or BC with house proceeds and savings
- Live the life of skiing everyday with my snowbunny wife

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Jul 15, 2016

I was thinking the same thing, the best job I ever had was a surf instructor.

few people in IB like to surf, but if I could be a pro at a golf course and teach surfing lessons, I'd be in nirvana

Jul 17, 2016

$5MM. At $5MM, assuming I have cars and housing paid for, I could work as an adjunct professor and make around $250,000 all in from bond interest and part time work while letting a mil or two be invested in capital appreciating assets.

$250,000 with no rent or car payments allows for about as much travel and good food as a person could want.

After a few years I might get the bug to open up my own shop though if I was still young.

Jul 17, 2016

400 million

I banana back

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Jul 17, 2016

More

Jul 17, 2016
rahoules:

More

purposely quoting Wall street 2?

I didn't say it was your fault, I said I was blaming you.

Jul 17, 2016

It becomes a measuring stick after about 10M liquid. Depends how big your ego is.

Jul 17, 2016

$10MM is the magic number :)

In all seriousness, you'll need to reach MD-level to reach $7-8MM in savings unless you're a saver (highly unlikely for most people in IBD, according to numerous posts by WSO-ers), in that case, I'm thinking SVP should do the trick by the time you hit 45.

Jul 17, 2016

4MM which I feel like is both realistic and very attainable in my target timeframe.

If I had asked people what they wanted, they would have said faster horses - Henry Ford

Jul 17, 2016

$4MM is a little low isn't it? When would you predict to be retiring with that?

Jul 17, 2016
NeuralNetwork:

$4MM is a little low isn't it? When would you predict to be retiring with that?

This is ridiculous.... do you understand how much money $4MM is?

The answer to your question is 1) network 2) get involved 3) beef up your resume 4) repeat -happypantsmcgee

WSO is not your personal search function.

Jul 17, 2016
blackfinancier:
NeuralNetwork:

$4MM is a little low isn't it? When would you predict to be retiring with that?

This is ridiculous.... do you understand how much money $4MM is?

Apologies, I didn't clarify. If you're retiring anywhere after 45 it's more than enough.

In most of these replies it's not mentioned at what age they retire, which makes a massive difference.

I'm assuming some people are using their current age, and some people are using retirement age. I don't know.

Jul 17, 2016

probably around 10, maybe 20 25-30 years from now

Jul 17, 2016

In before IP says 300k.

People like Coldplay and voted for the Nazis, you can't trust people Jeremy

Jul 17, 2016

The average person makes 2MM in a lifetime. Average lawyer makes 4MM in a lifetime.

You're absurd if you think that isn't enough to live off of.

I think that we are all clinging to a great many piano tops...

Jul 17, 2016

Got to agree with hpm, a lot of people here have delusions of retiring in their 30's or 40's and that's just not realistic. There's a word for the majority who actually do that - bums.

People like Coldplay and voted for the Nazis, you can't trust people Jeremy

Jul 17, 2016

You can easily "retire" from a "real" job in your 30s, just have to make good investments, maybe have a part time job/small business you do for fun and extra cash. You won't be living like a king, though

Jul 17, 2016

Ran a DCF and got to a figure of $11.8m (at today's exchange rate). That is assuming I die at 77 years of age (UK male life expectancy) and want to make a real annual salary of $120,000/year (assuming 2% inflation rate every year). Would settle for $8m though (about PS5m).

You know you've been working too hard when you stop dreaming about bottles of champagne and hordes of naked women, and start dreaming about conditional formatting and circular references.

Jul 17, 2016

in the words of Lil Wayne

"too much money, aint enough money"

Get it!

Jul 17, 2016

by the way retiring is boring... i rather expand on my entrepreneurial endeavours

Get it!

Jul 17, 2016

Okay, I'll rephrase it for the pedantic, quit your job and do what you want ("entrepreneurial endeavours", hookers from Thailand etc.)

Jul 15, 2016

I'd like to make $80,000 residual by the age of 55. Earlier if I can.

I truly want to launch a business operation where either I'm able to work completely remote (for like $60-80K by my late 20's or just do the normal thing.

"It is better to have a friendship based on business, than a business based on friendship." - Rockefeller.

"Live fast, die hard. Leave a good looking body." - Navy SEAL

Jul 17, 2016

Great article though i'm still left guessing. Has anyone acctually walked away ...with how much ? ( I know Edmundo says he did )

Jul 17, 2016

Retiring with a million is feasible, but retiring early with a million early probably is not. Obviously, I'm not old enough to have put much thought in to it, but if you figure the average American retires at 65 and dies at 80, that is 15 years, which a million should support you for. If you retire at 40 though, I imagine you'll stretch that money pretty thin. Once you're retired, you're going to have a very minimal risk appetite, so you're looking at a return of only a few percent over inflation. So even with a million, you might be getting a return of $30,000 a year - which I don't think you want to live on. If you start cutting in to your savings, that return will obviously decrease. So, I think you need to ask yourself how much you need to live comfortably on, when you want to retire (and thus how long you'll be retired for), and then work backwards from that.

Jul 17, 2016

If a person bought commercial real estate for 1m$..the rental he gets should be approx 5-6% a year + the appreciation (which will have a long term effect). Is this a good idea ?

Jul 17, 2016

But don't feel bad. So did I, and so does just about everyone else.

When I was just getting into the business at 23, all I could think about was amassing a huge lump sum of cash. It literally consumed my every waking moment. It didn't hurt that I actually liked the business at first, and I was lucky enough to enjoy some early success.

By the time I reached the point where I was able to walk away, though, I was completely torched. It took about 7 years total, start to finish. When I think about how many of those years (some of the best of my life) that I burned up trying to put together a huge pile of cash, it kinda turns my stomach.

You don't need $10 million to retire. For that matter, you don't even need $1 million. Some who have successfully walked away would argue that you don't even need a hundred grand, though I think that's stretching it a bit.

What you do need is one vital thing: cash flow. I would add that being completely debt free is highly, highly desirable as well, but it's not an absolute requirement as long as your debt service does not exceed your cash flow.

I thought I wanted the big lump of cash sitting in the bank. What I really wanted was the freedom and security that the cash makes possible. So if you can generate positive cash flow on a monthly basis that exceeds your expenses, and it's cash flow that doesn't rely on your efforts to be created, you can walk away any time you want.

The WSO Guide to Understanding TARP

Jul 17, 2016

Admittedly I am much younger and less experienced, but I thought pretty much the same things when I entered: amass a pile of cash, even if I have to spend all day / all night working.

The thing is, you don't need a huge lump sum of cash to "retire": you just need passive or semi-passive income streams... either from a business, from real estate, royalties, other sources, etc.

Someone linked to my article above, but let me just make one other point:

Early retirement is actually a fallacy. Many retirees get so bored they get severely depressed and want to commit suicide, because they're doing almost nothing with their time.

No matter how great it sounds to sit on the beach 24/7 and never do anything, you get bored of that routine very quickly. The better approach - and what I do now - is to spend some time working, but take a few weeks/months off in between every so often to do something other than work.

That might be learning a language, writing upcoming books, or any number of other projects. But I never just sit around on the beach or watching TV.

It's nice to have the security blanket that a large sum of cash gives you, but keep in mind that free time alone does not make you happy. Inactivity is not the goal - being able to choose your activities is.

Jul 17, 2016
Jul 17, 2016

The author, Tim Ferriss, actually used to work for a buddy of mine, another writer.

My buddy is a travel writer who is beginning to enjoy some success and recognition. His first book was a hit so he set up a blog. He wrote another book that did even better, then he started getting calls from the Travel Channel and other media outlets to produce some stuff for them. Because of this, he could no longer devote the time to maintain his blog, so he hired a kid that had some travel chops to write the blog for him.

The kid was none other than Tim Ferriss, and he wrote for my buddy's blog the whole time he was writing The 4-Hour Work Week. My buddy and I joke about how Ferriss went from writing his somewhat obscure blog to being a New York Times bestselling author almost overnight.

The WSO Guide to Understanding TARP

Jul 17, 2016

That's amazing, never heard that story. I can see why Tim never mentions it on his blog haha.

Though if I ever meet him in-person, that's the first thing I'll ask about...

Jul 17, 2016

I have read an article last year saying that a former M&A "rainmaker" from a BB has left the IB world to found from scratch one of the best Kayaking/Rafting company in Colorado.

That would be in my opinion an ideal way to retire because you are still making an interesting job, outside and you still make some money.

I actually remember the pictures of this article...pretty funny to see the man "Before" and "after"...

Jul 17, 2016

I'm going to piggyback on what others have said previously. Many people cannot be away from the work they have been doing for 10/15/30 years. It's cool to say you're going to retire at 45 and play golf and sit by the poolside bar the first 3 months, then you get bored. On top of that, I think for many of these people it is tough to see any type of loss in principal. The ones that have hit it big (8 or 9 figures), at least the ones that I have met, are always trying to figure out ways to multiply it or beat their friend who's worth 20M more. It's sick to think that the guy worth 80M is trying to break into the 9 figure club, but it is the way a lot of these people think and are wired.

Jul 17, 2016

I agree with everything mentioned above. The cash flow point is noteworthy - thats sort of the reason I mentioned rentals from real estate. Thats like the backup income stream.

But sitting idle watching tv is not my idea of retirement. My passion - laugh if you like - is fitness and running my own gym would be a great way for me to spend time and hopefully earn too.

I am a good golfer too ( no surprises ) and playing pro maybe an option too. A pro golfers life is very hard but if you're not doing it solely to earn money, it can be great fun.

Lastly, I trade/invest for myself as well and anyone who has been doing so knows that it does keep you occupied.

Jul 17, 2016

I'm in my mid 20s and still in the mindset of "I want to amass a pile of cash". I think it's very important to have principal that you can pass down to future generations, therefore securing not only your retirement, but your family's future and place in society. I would NEVER want to be spending principal in retirement... unless I had no other choice. But I guess if you guys mean "income-generating assets" rather than "principal" or "cash"... that's understood and I'd consider that pretty equivalent (i.e. real estate, stock/business interests, etc.)

I feel that once you're worth a certain amount, people can't push you around anymore. You go to work at jobs you enjoy with people you enjoy working with. I'd say that amount is maybe a few hundred thousand or $1M if you don't have a lavish lifestyle. If you have that in the bank, you're not going to bother working for people you hate or doing work you're not enjoying... you're going to have more dignity and pride than that, backed up by financial security. I guess my point is... when I see guys working on Wall St or running companies in their 60s, you have to know that these people genuinely enjoy their job OR possibly just don't have any hobbies or interests. Otherwise, they simply wouldn't be doing it.

As long as I enjoy my job... I'll stick to business. However, if I find other passions in life, I'd love to do something else after age 50-55, possibly part-time. One example I've thought of is being a college professor... that sounds like it would be extremely rewarding to me.

What will I need to retire and be happy? Probably $10M or more in today's dollars. Not exactly difficult to amass by the time you're 45-50 if you've spent your whole career on the Street.

Jul 17, 2016

Thread of the year.

Jul 17, 2016

Thanks for your views

Jul 17, 2016
Jul 17, 2016

Being 20 something and having a million in the bank sounds like nirvana because most 20 somethings have not tied themselves into a mortgage, family dependents and a expensive day to day life style ie private school and university for the kids, summer European holiday for the whole family, winter skiing holiday, second home etc. By the time anyone amasses a million they need the income cash flow that got them the million in the first place to maintain their lifestyle because there is no way on earth that a passive income from that million is any where close enough to maintain the life style they are locked into. That's the truth on why most 50 and 60 year olds on Wall street are still working.

Jul 17, 2016
medward:

Being 20 something and having a million in the bank sounds like nirvana because most 20 somethings have not tied themselves into a mortgage, family dependents and a expensive day to day life style ie private school and university for the kids, summer European holiday for the whole family, winter skiing holiday, second home etc. By the time anyone amasses a million they need the income cash flow that got them the million in the first place to maintain their lifestyle because there is no way on earth that a passive income from that million is any where close enough to maintain the life style they are locked into. That's the truth on why most 50 and 60 year olds on Wall street are still working.

I would think that most people in the financial industry are smart enough not to get trapped into that, but I guess it's just human nature for many.

I live significantly below my means and hope to do so for the rest of my life. Some people may call me a miser... but I'm just much happier with security than I am with material goods.

Jul 15, 2016

I'd ideally like to retire from full-time work around 55 or so, but go into an office 2-3 times a week every couple weeks as a consultant of some sort to keep my sanity. Living somewhere in California would be nice, but I'd settle for Nevada if it's still cheap to live in by the time I retire since I plan on spending a significant amount of time travelling anyways. I'd probably be ready to retire if I had a passive income around $70k/yr.

Jul 17, 2016

If I manage to get the job I want, I'm not sure I plan on ever retiring. After a couple billion, anything more would go to some charity I run while the 2 billion would serve as an absolute return investment vehicle. Odds of me getting there are slim but it seems worth a shot.

Jul 17, 2016
GoodBread:

If I manage to get the job I want, I'm not sure I plan on ever retiring.

Exactly. If my job actually makes me happy, then I don't have anything keeping me from quitting. I do think $2M would suffice for me. Although if I'm relatively too young, I would probably keep working.

Jul 17, 2016

If I was going to retire RIGHT now, then my number would be $10,000,000 cash. That would allow me to get 200K-300K a year to live off of w/ a safe 2 or 3% return.

Jul 17, 2016
Nobama88:

If I was going to retire RIGHT now, then my number would be $10,000,000 cash. That would allow me to get 200K-300K a year to live off of w/ a safe 2 or 3% return.

same

Jul 17, 2016
Nobama88:

If I was going to retire RIGHT now, then my number would be $10,000,000 cash. That would allow me to get 200K-300K a year to live off of w/ a safe 2 or 3% return.

Are you saying you have 10,000,000 in your account?

Jul 17, 2016

But if you have $3-4M its conceivable you'll have an opportunity to make close to another million (or more) in a year while being more satisfied with your work- wouldn't you take it (assuming you didn't get your 3-4 by slowly grinding it out)?. If so, a predetermined cutoff doesn't make sense.

Jul 17, 2016

I'd like a mil/year in interest....just saying (but I have grown to be a pretentious fuck, so)

Jul 17, 2016

To: seigniorage, yes that's true. I probably would work for a few more years. Unfortunately I'm one of those cynical fuckers who thinks work is a cruel necessity of life and wants to get out as soon as possible. I don't know, maybe liquidating some business; if I made PS5MM from that, it'd be retirement for me, and live off the interest.

Jul 17, 2016

To: seigniorage, yes that's true. I probably would work for a few more years. Unfortunately I'm one of those cynical fuckers who thinks work is a cruel necessity of life and wants to get out as soon as possible. I don't know, maybe liquidating some business; if I made PS5MM from that, it'd be retirement for me, and live off the interest.

Jul 17, 2016

$10M

Jul 17, 2016

Nobama does not has 10mm, he is a 1st year analyst.

Jul 17, 2016
SmallUser:

Nobama does not has 10mm, he is a 1st year analyst.

Suprisingly, your research skills are far better than your reading comprehension.

Jul 17, 2016

Can't even think about retirement at this point, I'm 23. All I can think of is how I need to start stacking cash like a BOSSSSS.

Death will be my retirement..

Jul 17, 2016
pacman007:

Death will be my retirement..

ballz bro

W/ 10MM I would pretty much move from 'employee' type to 'pirate investor type'

Jul 17, 2016

~5M

If I had asked people what they wanted, they would have said faster horses - Henry Ford

Jul 17, 2016

Would ideally retire making $250MM a year just on interest

I didn't say it was your fault, I said I was blaming you.

Jul 17, 2016
tlynch5:

Would ideally retire making $250MM a year just on interest

ideally i would like to do the same

Jul 17, 2016

Actually if I have between PS3-4MM in the bank and make around PS100k in interest per year

Isn't inflation usually >3% so making real interest rate negative.

Shit.

I haven't thought this through.

Anyone else considered inflation? Maybe compound interest if I add into the account would supersede it. I really haven't thought this through.

Jul 17, 2016

Can whoever has a problem with my response come forward? What's your beef?

Jul 15, 2016

I'm never going to retire both of my grandparents are in their 80's and are up at the crack of dawn every day to run their businesses. The older one says the day he stops working is the day he drops dead- just loves what he does.

Jul 17, 2016

die.

Jul 17, 2016

10mm live off 4 percent returns. After having brought the primary residence and vaca property cash.

I Got a dollar and a dream...

Jul 17, 2016

Well, to be conservative, I'd want to live on 2.5% of my income. Assuming I have a family with kids and am the primary breadwinner, that puts me at $2.4 million ($1.6 million if Obamacare passes and I don't have to pay health insurance) plus a 40-acre farm in Wisconsin plus two rusty hondas.

Jul 17, 2016

I liked one guy on Wall Street Warriors remark. This was before the crash though: "$10MM after-tax, buy a 30 year bond with 4-5% interest and just coast." Too bad those rates are not around today but who knows, if I ever have 10MM after tax maybe they will be.

"Ambition and education is first and talent is second"- T.I.

Jul 17, 2016

I'm going to spend it all, and the last check I write will bounce. Everything I could materially want would cost me no more than $10m, everything I want to achieve with my life will cost billions. Best get started.

Jul 17, 2016

IP I love you man but my god you are such a tightwad.

"Oh the ladies ever tell you that you look like a fucking optical illusion" - Frank Slaughtery 25th Hour.

Jul 15, 2016

Would trade a suit and tie for a spot along the Spanish coast. High five figures should do.

Jul 17, 2016

all on black

Jul 17, 2016

Say what?? ^^

Jul 17, 2016

Define 'little risk'.

Jul 17, 2016

.

"An investment in knowledge always pays the best interest" --Ben Franklin

Jul 17, 2016
SirPoopsaLot:

Define 'little risk'.

.

(Sorry, meant to quote Sir above)

"An investment in knowledge always pays the best interest" --Ben Franklin

Jul 17, 2016

troll

Jul 15, 2016

Passive annual income 250k minimum. That being said, I don't plan on retiring till I'm 65+. My grandfather retired at age 49 and said it was the worst decision of his life. There is only so much you can do with your free time. As for location, definitely SF. Pac Heights of course.

Jul 17, 2016

1. I'd focus on growth until your 40's, IMO. Try to add more of your paycheck when bear markets show up, never stop adding, though.

2. The ETF's will usually be cheaper, but you just need to compare the fees (expense ratios vs any load-fees).

Jul 17, 2016

The world is getting older and sicker. IXJ is my recommendation.

Jul 17, 2016

Not an ETF, but I recommend this to anybody looking for a well-diversified option:
http://longorshortcapital.com/diversifying-fund-i.htm

Jul 17, 2016

yes, putting 70% of your money in something with a PE north of 30 makes complete sense. bon voyage

Jul 17, 2016

heister:

Look at all these wannabe richies hating on an expensive salad.

https://arthuxtable.com/

Jul 15, 2016
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Jul 16, 2016
Aug 3, 2020