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Thread: How Much $$$$ to Retire at 35?

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    Default How Much $$$$ to Retire at 35?

    How much money would you want to have to retire at 35?

    I've done my own calculations but am curious as to what others would want to see in the bank before declaring Financial Independence.

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    Knowing you, I'm sure your calculations are pretty good, but here's some of the things I would consider:
    - you'll need more per year than a person retiring at age 65 or older, because at this young age you will be more active and able to travel.
    - You'll also need a bigger cushion because if something bad happens, like a market crash, serious illness or other unexpected expense, you have more years of non-earning afterwards to be hurt by that event. Perhaps you would want to load up on things like critical illness and disability insurance?
    - Fewer years of working may mean you have less government entitlements later in life? Does CPP/OAS or "other" work this way?
    - Is there any chance you will decide to have kids in the future? I'm assuming you don't have any now, but that will change your situation immensely.


    Probably a much bigger question is would you WANT to retire, even if you had the money? It's kind of a complicated question, but if money was no object, what kind of work would you enjoy doing? If that works earns a small amount, then what does that change about your retirement financial planning?
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    Do I have liabilities to worry about? Mortgage free dwelling, paid off car? Or nomad style with just a bank account and complete freedom?

    Semi-retirement would be great at 35; freedom to do whatever you want on your own pace, with no fear.

    I did the math for me, and if I went nomad.... $3mm minimum after taxes.
    Last edited by flipstah; 05-16-2017 at 05:18 AM.

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    I'm debt free now with house all paid off at 33, only got a couple hundred in investments, but even if had a multiple millions, I wouldn't retire at 35. Would be bored out of my fucking mind. There is only so much travel you can do. I travel a ton and have been many places (just got back from Mexico on Saturday, next Monday off to Brazil for 3 weeks). I just can't imagine being retired at a young age. I think when you retire with lots of money, you probably will want to spend to keep yourself entertained, and if you don't pay attention, can get into trouble, and by that time your skill set may be outdated to get back to work.

    Just my opinion.

    I think for me....I would retire if I hit 50 mill lottery...at that points it would be a full time job just to spend all that money (no kids here), as I wouldn't go stupid with it and only buy a few big ticket items before settling down. No private jets and crap like that. Although now that I think of it...at 50 mill still wouldn't retire, I like my job, the team I work with, so I would still probably work, just would be a lot easier to walk away if you get pissed off and want to shit on bosses desk or something haha.

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    Originally posted by eblend

    Just my opinion.
    +1 I'd rather start my own business than retire before I'm 50.

    But to answer the original question, I think I would personally require about $5.5 million, assuming the market rates stayed good and 8% annual interest.

    That would be $150g net a year until 85 years old.

    Edit: If my wife wanted to retire at the same time, I think we'd require about $7.5m
    Last edited by Tik-Tok; 05-16-2017 at 07:39 AM.

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    Originally posted by eblend

    I think for me....I would retire if I hit 50 mill lottery...at that points it would be a full time job just to spend all that money (no kids here), as I wouldn't go stupid with it and only buy a few big ticket items before settling down. No private jets and crap like that. Although now that I think of it...at 50 mill still wouldn't retire, I like my job, the team I work with, so I would still probably work, just would be a lot easier to walk away if you get pissed off and want to shit on bosses desk or something haha.
    I would retire if I won 50 mil. I have enough things I am interested in to go back to school for life. So many courses I would take and just become a student for life with the odd "job" here and there to explore interests. Spend my school year in whatever city has the school with the course I want. Spend my 4 month summers traveling the world. Dream right there. Highly educated in everything I am interested in.
    Signature..... I ate it!!

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    Is it weird that I'd spend maybe 1/50 million on building up this business I've been working on? There's actually a few great things I could do if I had cash to spread around. I occasionally play the lottomax and that's what I dream of when I buy the tickets. I may be crazy.

    I don't want to be full-time retired, I know myself well enough to know that I would not thrive in that environment. Although, being "mostly busy" in a company I owned would mean I could spend more time golfing and skiing. Probably one day per week.
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    You don't need more than $2m to retire at 35 comfortably if your not a fucking idiot.

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    I'd say that's $2 million net worth, If you owe $750,000 on your house still, that'll have to be added.

    But I agree, it shouldn't be hard, even for a couple to retire on $2 million net worth and live a very comfortable lifestyle.
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    One hundred billion dollars!
    "Shall we tax people who buy new shoes and donít wear them?" - Monika Tu

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    Commence dick-measuring contest regarding current and projected net worth . . . now!
    Help me figure out what to do with my life. Suggestions?
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    Originally posted by BavarianBeast
    You don't need more than $2m to retire at 35 comfortably if your not a fucking idiot.
    *you're

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    Look up the 4% rule if you haven't already. It's the amount you can safely withdraw each year from your investments with a 99% likelihood that you'll never run out of money. e.g. If you can live comfortably on 50K a year divide that by 4% to get 1.2 mil of investments. Change that to 80K a year and you'll need 2 mil.

    How much you spend to maintain your lifestyle has a HUGE impact. Everyone's spending habits are different. At 35 you're pretty much guaranteed to find something else you're interested in and have other sources of income unless you're just a bum haha.

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    Originally posted by Manhattan
    Look up the 4% rule if you haven't already. It's the amount you can safely withdraw each year from your investments with a 99% likelihood that you'll never run out of money. e.g. If you can live comfortably on 50K a year divide that by 4% to get 1.2 mil of investments. Change that to 80K a year and you'll need 2 mil.

    How much you spend to maintain your lifestyle has a HUGE impact. Everyone's spending habits are different. At 35 you're pretty much guaranteed to find something else you're interested in and have other sources of income unless you're just a bum haha.
    I would follow this train of thought. Keep in mind, keep your house out of this calculation. When retiring, your primary home is an expense.

    Originally posted by BavarianBeast
    You don't need more than $2m to retire at 35 comfortably if your not a fucking idiot.
    Depends on what you are into. If all you care about is 3 meals a day and jerk off on free porn, you don't even need $2M.

    But if retiring means spending $ toward a passion project that no necessary profit generating, you may need more.
    Last edited by Xtrema; 05-16-2017 at 08:43 AM.

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    How much would I like to have or what is the minimum I would need to have?

    I'd like to have at least $2.5M in liquid investments (not including RE). At the minimum I would need my yearly expenses x 25-30 (I would probably be living pretty lean here unless my investments do very well early on).

    https://www.reddit.com/r/financialindependence/
    https://www.reddit.com/r/leanfire/

    Originally posted by Manhattan
    Look up the 4% rule if you haven't already. It's the amount you can safely withdraw each year from your investments with a 99% likelihood that you'll never run out of money. e.g. If you can live comfortably on 50K a year divide that by 4% to get 1.2 mil of investments. Change that to 80K a year and you'll need 2 mil.

    How much you spend to maintain your lifestyle has a HUGE impact. Everyone's spending habits are different. At 35 you're pretty much guaranteed to find something else you're interested in and have other sources of income unless you're just a bum haha.
    I read a study that says in this low-interest environment it is closer to 3.5%.

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    This whole thread will become irrelevant with Mincome.
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    Originally posted by Manhattan
    Look up the 4% rule if you haven't already. It's the amount you can safely withdraw each year from your investments with a 99% likelihood that you'll never run out of money. e.g. If you can live comfortably on 50K a year divide that by 4% to get 1.2 mil of investments. Change that to 80K a year and you'll need 2 mil.

    How much you spend to maintain your lifestyle has a HUGE impact. Everyone's spending habits are different. At 35 you're pretty much guaranteed to find something else you're interested in and have other sources of income unless you're just a bum haha.
    Living life on dividends is boss.

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    Beyond Ballers, where 50k a year is comfortable living

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    Originally posted by Tik-Tok
    Beyond Ballers, where 50k a year is comfortable living
    Monthly for 2 ppl:
    $2000 for cars
    $500 for utilities
    $300 for prop tax
    $1000 for food

    you still have $4500 left over for a annual trip somewhere. It is doable if house is paid off and have no more liabilities like children.

    How soon you can retire is what your expectation your retirement will be. It's pretty simple if it's just single or couple. Get exponentially harder if you have kids or your retirement involves hookers and blow.

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    Originally posted by holden
    I read a study that says in this low-interest environment it is closer to 3.5%.
    Investors tend to assume whatever is happening now will go on forever when the markets are cyclical in nature. Interest rates have been on the decline since the 80's to the rock bottom/negative rate territory we're seeing today. My guess is interest rates are more likely to gradually increase in the next couple decades.

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