OT: What's the minumum amount of money you would need to retire?

[MrDollarBills]

it depends on your debts / future costs. if you paid off your mortgage and can stay in place, don't have kids you have to take care of, $5 million can get you $150K per year at a 3% withdrawal rate, well within the margin to still let your brokerage account grow and live a comfortable life in most places. But how many ppl are gonna have a $5 mil upon retirement? Better be a high earner.

If you're trying to make the dollars stretch, I would NOT move to FL. It has become a nightmare for the non wealthy.

Florida is gonna be in the Atlantic Ocean so i don't think that will be a concern at this rate.

This thread is depression fuel

[HarthorneWingo]

it depends on your debts / future costs. if you paid off your mortgage and can stay in place, don't have kids you have to take care of, $5 million can get you $150K per year at a 3% withdrawal rate, well within the margin to still let your brokerage account grow and live a comfortable life in most places. But how many ppl are gonna have a $5 mil upon retirement? Better be a high earner.

If you're trying to make the dollars stretch, I would NOT move to FL. It has become a nightmare for the non wealthy.

Florida is gonna be in the Atlantic Ocean so i don't think that will be a concern at this rate.

This thread is depression fuel

Not necessarily ...

Watch on YouTube

[MrDollarBills]

it depends on your debts / future costs. if you paid off your mortgage and can stay in place, don't have kids you have to take care of, $5 million can get you $150K per year at a 3% withdrawal rate, well within the margin to still let your brokerage account grow and live a comfortable life in most places. But how many ppl are gonna have a $5 mil upon retirement? Better be a high earner.

If you're trying to make the dollars stretch, I would NOT move to FL. It has become a nightmare for the non wealthy.

Florida is gonna be in the Atlantic Ocean so i don't think that will be a concern at this rate.

This thread is depression fuel

Not necessarily ...

Watch on YouTube

Man this was dark

[Deeeez Knicks]

A hell of a lot more than is in my retirement account. That's for damn sure.

We can’t even fully retire from being a mod

[HarthorneWingo]

Florida is gonna be in the Atlantic Ocean so i don't think that will be a concern at this rate.

This thread is depression fuel

Not necessarily ...

Watch on YouTube

Man this was dark

Yeah, when Carlin came back he really let loose. This was an HBO special believe it or not.

[Capn'O]

A hell of a lot more than is in my retirement account. That's for damn sure.

We can’t even fully retire from being a mod

[HarthorneWingo]

Oh, there's Thailand. Bluntstoned would love the women and the cannabis bazaars there.

[aq_ua]

There are a lot of studies that show people have outrageous beliefs in what is a required sum to retire. Thankfully, between social security and some pension benefits, the actual number tends to be much lower. Also, people tend to be pretty good about adjusting their lifestyle to match their income as necessary. If anyone wants to chat, I do this kind of stuff as a side hobby now.

[HarthorneWingo]

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[Jalen Bluntson]

Not necessarily ...

Watch on YouTube

Man this was dark

Yeah, when Carlin came back he really let loose. This was an HBO special believe it or not.

His best work.

[Chuck Everett]

3 million. With a decent index or mutual fund, I could get 70K annual at 15% long-term dividend tax and be good for life. I'm kind of a minimalist, so the only things that matter to me are food, shelter, good health and a working vehicle.

[HarthorneWingo]

3 million. With a decent index or mutual fund, I could get 70K annual at 15% long-term dividend tax and be good for life. I'm kind of a minimalist, so the only things that matter to me are food, shelter, good health and a working vehicle.

It all depends where you want to live. Are you living in NYC or somewhere down south or outside of the country?

[Jalen Bluntson]

Oh, there's Thailand. Bluntstoned would love the women and the cannabis bazaars there.

I'm just looking for place out of everyone's way but not completely isolated. Not in hostile territory or failing govts etc. I admit I am totally ignorant to these aspects of the world outside of North America. Never been out of the country or off the east coast for that matter.

I will most likely die with my tools in my hands anyway(pause) and will never even get to fully retire so, it's more a curiosity for me. I have my own plan mapped out for a peaceful easy fade out from this world. My kid has instructions for if/when I start to lose my faculties already. It's just a matter of riding out the back nine as easy as possible for me and I really don't wanna leave my daughter because we are the only family we have left technically. Her mother is batshyt crazy and they have an almost non existent relationship. Everyone else is dead or long removed from our lives so, I don't want to live too far from her. She's not married and no kids either yet. Unless she leaves the country too.... that's why I am asking.

[HarthorneWingo]

Oh, there's Thailand. Bluntstoned would love the women and the cannabis bazaars there.

I'm just looking for place out of everyone's way but not completely isolated. Not in hostile territory or failing govts etc. I admit I am totally ignorant to these aspects of the world outside of North America. Never been out of the country or off the east coast for that matter.

I will most likely die with my tools in my hands anyway(pause) and will never even get to fully retire so, it's more a curiosity for me. I have my own plan mapped out for a peaceful easy fade out from this world. My kid has instructions for if/when I start to lose my faculties already. It's just a matter of riding out the back nine as easy as possible for me and I really don't wanna leave my daughter because we are the only family we have left technically. Her mother is batshyt crazy and they have an almost non existent relationship. Everyone else is dead or long removed from our lives so, I don't want to live too far from her. She's not married and no kids either yet. Unless she leaves the country too.... that's why I am asking.

Better tell them now that you already have.

Just stay with your kids. You’re lucky to have them. How they feel about you may be another matter.

[Chuck Everett]

3 million. With a decent index or mutual fund, I could get 70K annual at 15% long-term dividend tax and be good for life. I'm kind of a minimalist, so the only things that matter to me are food, shelter, good health and a working vehicle.

It all depends where you want to live. Are you living in NYC or somewhere down south or outside of the country?

Born and raised in Queens. Lived there 'til I was 24. Have been living in Los Angeles since. Since I also have my own business (book publisher), I am ultimately going to settle in the Las Vegas area, because I am tired of paying state income taxes.

ETA: Basically HCOL doesn't bother me, because I am used to it my entire life. Somehow, when you're used to making due with less you just sort of figure it out.

[aq_ua]

Oh, there's Thailand. Bluntstoned would love the women and the cannabis bazaars there.

I'm just looking for place out of everyone's way but not completely isolated. Not in hostile territory or failing govts etc. I admit I am totally ignorant to these aspects of the world outside of North America. Never been out of the country or off the east coast for that matter.

I will most likely die with my tools in my hands anyway(pause) and will never even get to fully retire so, it's more a curiosity for me. I have my own plan mapped out for a peaceful easy fade out from this world. My kid has instructions for if/when I start to lose my faculties already. It's just a matter of riding out the back nine as easy as possible for me and I really don't wanna leave my daughter because we are the only family we have left technically. Her mother is batshyt crazy and they have an almost non existent relationship. Everyone else is dead or long removed from our lives so, I don't want to live too far from her. She's not married and no kids either yet. Unless she leaves the country too.... that's why I am asking.

The basic questions are, why do you need to relocate and what do you need to maintain the lifestyle you want. There are a lot of places in the world with lower cost of living than the US, but there's also a reason for that. If you can do things like downsize your living (i.e. smaller home) and rely on other income sources, there are other workarounds to cost of living concerns. Being in another country away from a child that relies on you can be pretty tough and that relationship is one of the most meaningful experiences in life, so I have to question whether finances alone are enough to justify a move.

[HarthorneWingo]

3 million. With a decent index or mutual fund, I could get 70K annual at 15% long-term dividend tax and be good for life. I'm kind of a minimalist, so the only things that matter to me are food, shelter, good health and a working vehicle.

It all depends where you want to live. Are you living in NYC or somewhere down south or outside of the country?

Born and raised in Queens. Lived there 'til I was 24. Have been living in Los Angeles since. Since I also have my own business (book publisher), I am ultimately going to settle in the Las Vegas area, because I am tired of paying state income taxes.

Just stay away from the nuclear wast dump site.

[Guano]

I'd quit/retire to chase mountains and travel right now but that isn't really realistic for atleast another 7 years. Which I'm most likely going to do. Then after a few years go back to my career.

I'd rather spend a few years with good health/ability than stack up the later years.

[Chuck Everett]

It all depends where you want to live. Are you living in NYC or somewhere down south or outside of the country?

Born and raised in Queens. Lived there 'til I was 24. Have been living in Los Angeles since. Since I also have my own business (book publisher), I am ultimately going to settle in the Las Vegas area, because I am tired of paying state income taxes.

Just stay away from the nuclear wast dump site.

That too. I told a buddy of mine about Henderson, NV (he lives in Vegas as well). He said, I should've known that's what you were looking at it. It's basically Los Angeles in Vegas from an aesthetic standpoint.

[HarthorneWingo]

I'd quit/retire to chase mountains and travel right now but that isn't really realistic for atleast another 7 years. Which I'm most likely going to do. Then after a few years go back to my career.

I'd rather spend a few years with good health/ability than stack up the later years.

You really think that you’ll go back to work after taking time off?