Yeah, the interpretation definitely changes the outcome. And yeah, I imagine it’s a rounding difference. I put it in Excel, but it’s also possible I typo’d something by a dollar or two.
[Reply]

How much money does one need to retire before 40? What's the number you guys are looking for to "retire" and at what specific age?

I assume the government will just give me free shit if by miracle I somehow live past 60. I bet by that time I can just send them an email and be like, hey man, I'm looking for some free shit. Print me some money I'm old, thanks.
[Reply]

I believe you have enough to do that now. Just draw when you need too and let the rest gain.
[Reply]

My target has always been 2 mil to retire comfortably at 60, so 4 mil at 40? My thought is 100k a year until age 80...yes,it's a significant reduction in current salary, but I'd think with Medicare, social security, a paid house, and children gone it would be enough (inflation scares me though) . It all depends on your home and health status, marital status, children, etc.
[Reply]

If your house is paid off, no kids in the house, and I assume no other major financed purchases what would you need 100k per year for? If you are planning on spending significantly on travel, I could see it, but just to retire comfortably I would think it wouldn't take that much income if you didn't have significant bills like a mortgage, car payments, boat payment, etc....
[Reply]

Well, "comfortably" to me probably means something different than it means to you. I see it as no change in the lifestyle we've built. I'd like to be able to buy new cars without worry. I'd like to be able to make improvements to the house without worry. I need to plan for the possibility that I, my wife, or both of us might need a nursing home. I need to plan for insane inflation. I need to plan for the government deciding to turn around and tax my Roth contributions. I need to plan for medicare disappearing. I need to plan for social security disappearing. I also have to consider that my wife didn't invest heavily during the first 15 years of her career like I did.



It's pretty much worst case scenario contingency planning + wanting to be comfortable. I'm on track so far to have the 2 mil by age 60....but the age 40 thing like Bwillie is ready for - no way. Remember, most of us don't have pensions.
[Reply]

yeah, my wife did zero investing and I sort of kept our bills/everything else afloat while we had kids at home and she was doing schooling, interning, etc. My current estimate is to get to 1.8 million by age 65 off just what I put away. Would have been great if we'd have had my wife at the same spot but it is what it is. House paid off in 7 more years and then I'll be looking at getting a rental property or two and still have 14 years until retirement. I'll plan to pay off the rentals in that time and should be able to be sitting pretty well by the time I hit retirement.
[Reply]

My definition of comfortable is far from my plan for retirment. I think most would view comfortable as living their normal lifestyle without worrying that any normal unplanned expenditure would put you in financial trouble.

My personal view of retirment is different. I plan on living 6 months of every year in Maui and I am already paying off a beachfront condo right now for the wife and I when we retire. My situation is different than many because I have a great pension plan, we have diligently invested 15% of our incomes in either 401k accounts or ROTHs, and I received a decent amount of inheritance from one of my grandparents.

It amazes me how many people I encounter that have almost no plan for retirement. I talked to a maintenance technician that works for me that other day and the talk of retirment came up. He is 51 years old and he was pretty proud of the fact that his 401k had hit 200k this year. I would be a nervous wreck if I was that age and only had that amount of money put away for retirement.
[Reply]

It's a blood bath out there.
[Reply]

Is this now a bear market or what? I'm not seeing any consistency at all lately
[Reply]

BTC needs to lay low until 2023 and until someone famous can convince hippies & governments it is not as bad on the environment as previously though. Need this bad PR to to go away, then someone to blow smoke up their asses about mining with sustainable energy or something bla bla bla.
[Reply]

Yeah it's not a fun time. Seems like as soon as momentums begins to trend upward then some stupid ass has to open their mouth and then investors freak out and sell.
[Reply]

"Bitcoin is bad on the environment" has to be one of the stupidest hippie bullshit phrases I've ever heard.
[Reply]

I'm in my early 40s and have been talking with a financial guru about long term investments, getting previous employer 401ks in a better spot, and general retirement planning.

At best, just about everyone is really surprised I would do such a thing... and then some people specifically say I'm too young to be thinking about retirement. :-)

And at worst, my financial guy was going to put some money in some 10 year investment, but he found out no one would do that because I'm ~10 years too young. :-) :-)

Hell, it's not like my optimal plan is to retire at 67+ in 25+ years.
[Reply]

I once had a 55 year old woman working for me and she didn't do the 401k. It made zero sense to me that she wouldn't at least do it up to the employer match. It's free money sitting there. She was living with her elderly mother and I assume was just planning to get the house when she passed away or something like that. There is a reason some people will never produce generational wealth to pass down to their kids.
[Reply]