Post your age and how much it would take in savings for you to retire today

If I was retiring today, $2m that can earn 5% on average could sustain me at $100k a year without ever depleting the fund. Unless something bad happens, then I'd be wiped out. Could go as low as $1.4m perhaps, which could still give me $75k a year which is still higher than the average household and wouldn't run out of money until I was almost 100. I wouldn't do it for $1m though. Household income of <$55k/year. It's not an impoverished existence, but I'd rather work.

 

None of your damn business (with all due respect), OP, and I am already retired, living comfortably.

(don't take my post personally - it's more or less what I post whenever one of these threads pops up)

 

I plan on being totally debt free (including the house) before I retire and also have a few paid-for rental properties generating income, so that definitely affects how much we'll actually need. We could probably live on SS and the income generated by 4 or 5 paid-for rental properties while barely touching our retirement itself, especially with no mortgage payment or any other payments of any kind.

 

Kinda off topic, but do you manage the property yourself or is it worth having mgmt company do it?

 

28. I think I would need about $3 mil to live off of at a reasonable interest rate equivalent to my current income level. I'm single with no kids so kind of hard to fathom how much that would change if I were to settle down.

 

About 52 thousand dollars.

Spoiler

 

10 million ought to get it done

 

Well, I only have 1 right now and it's not paid off yet. But yeah, I use a property manager. They handle everything and take 5% off the top every month. Totally worth it to me. I have zero interest in collecting rent myself or driving across town to fix a toilet.

 

It shouldn't surprise you that I got this reference without even having to click the spoiler.

 

42 and retired.

It's funny, I work a hell of a lot harder now than I did when I had a job (with clients and bosses and responsibilities and stuff) but now I just do it for fun.

 

37. Give me 8 million and I'm done.

 

I'm 12, so I just need 20 bucks for some candy.


In all honestly, I don't think I'll ever retire. I enjoy what I do too much.

 

I retired at 42, and now 10 years later, after the crash in 2008, am back hard at work.

DD

 

32 years old. 500 thousand dollars. I can live more frugally than most.

 

29, Powerball.

 

Then don't comment?
Not like he's asked you directly.

 

13 and retired.

 

Tell your hooligan friends as well...

Spoiler

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30. Pretty sure I could retire if I had about 800k - 1M.