Retirement income projections

[ExtraSlow]

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All the people saying $10k/mo realize how much they need in investments to pull that, right?

yes

[BavarianBeast]

Sick, ball on

[vengie]

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Sick, ball on

Real gangstas dun play.

[ExtraSlow]

One does not start a "rube goldberg cock-off machine" without a brag. C'mon, are you new here?

Although I will say, my current projection has me falling short of $10k/mo income.

[rx7boi]

I think it's worth reminding yourself that you don't have to spend every available/budgeted dollar and that old habits can die hard. I've heard that actively choosing to spend money can continue to be one of the biggest mindset shifts when you finally have money to do all the things you want, how you want, when you want.

I'd be interested in hearing how you guys foresee your financial consumption habits changing. Would you dispose of old habits that were only made by necessity (i.e., booking a cheaper flight or settling for a lesser product)?

I could see my wife and I spending up to $10k a month just knowing how expensive shit can get, but I can also see us spending as little as $3k a month.

So to the point that @The_Rural_Juror made, it is really about options.

[pheoxs]

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I think it's worth reminding yourself that you don't have to spend every available/budgeted dollar and that old habits can die hard. I've heard that choosing how you spend money can continue to be one of the biggest mindset shifts when you finally have money to do all the things you want, how you want, when you want.

I'd be interested in hearing how you guys foresee your financial consumption habits changing. Would you dispose of old habits that were only made by necessity (i.e., booking a cheaper flight or settling for a lesser product)?

I could see my wife and I spending up to $10k a month just knowing how expensive shit can get, but I can also see us spending as little as $3k a month.

So to the point that @The_Rural_Juror made, it is really about options.

I'd take up more hobbys, which may or may not be more expensive than working. Tbh the hardest part will be having the extra 8-10hrs each workday to fill. There's only so much walking / biking / hiking you can fill that time with. Any other activities end up costing money. Even if you wanna take up painting that can add up in paint and canvas' over time, worse yet if your hobby is drinking haha.

[Buster]

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$5k is what we're aiming for. However any serious medical condition is going to greatly diminish what we'll actually be able to do with that income.

Drugs and medical supplies aren't cheap when you no longer have a job that has medical benefits, and seeing as how most of Beyond wants to gut our socialized medicine, I predict it's going to get exponentially more expensive in 20 years.

Socialism works every time, all the time.

[ExtraSlow]

I actually cannot even picture how my wife and I coukd average $10k/mo. That would be wildly higher than the spending rate at any point of our lives so far. And we had $5k/mo childcare for a while.

[The_Rural_Juror]

Is that $10k/mo before or after taxes? That is important information. A lease on an entry level AMG depends on it unless your oppressed self can pay it off in cash.

[rx7boi]

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I'd take up more hobbys, which may or may not be more expensive than working. Tbh the hardest part will be having the extra 8-10hrs each workday to fill. There's only so much walking / biking / hiking you can fill that time with. Any other activities end up costing money. Even if you wanna take up painting that can add up in paint and canvas' over time, worse yet if your hobby is drinking haha.

Other than a house and car, I don't think I've ever spent more than 10k in a month.

That said, I've also never owned a baller car or flown first class. Both of these are things that I'd like to do.

If I reflect on the tour I took to Northern Europe, that was about $5k/PP for 3 weeks so I can easily surpass that figure if I were to do that trip again.

[ExtraSlow]

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Other than a house and car, I don't think I've ever spent more than 10k in a month.

That said, I've also never owned a baller car or flown first class. Both of these are things that I'd like to do.

If I reflect on the tour I took to Northern Europe, that was about $5k/PP for 3 weeks so I can easily surpass that figure if I were to do that trip again.

Can you do that every month for several years?

[Tik-Tok]

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Socialism works every time, all the time.

I don't think socialism has ever had a true chance to work because of capitalism. Just like true capitalism has never had a chance to work because of corporatism.

[2Legit2Quit]

What's $10k a month for in retirement? Hookers and blow? that's a lot of dollary doos

/peasant

[BavarianBeast]

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What's $10k a month for in retirement? Hookers and blow? that's a lot of dollary doos

/peasant

These guys drink expensive whiskey, travel to Europe and have big AMG payments bro.

[Buster]

I thought true ballers don't retire.

They say things like: "I will just continue my board work part time. Only have to fly back to the country once a quarter if the schedules for the board meetings work out."

[rx7boi]

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Can you do that every month for several years?

That's my point. In my earlier post I said I can see myself using $10k but also as little as $3k per month.

What I can see is my lifestyle baseline changing so that everything costs more in general. The whole point of putting in the effort now is the enjoy the fruits later.

Instead of Bic pens, I can import some dope ass Japanese 0.5mm fine tip pens.

[ExtraSlow]

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I thought true ballers don't retire.

They say things like: "I will just continue my board work part time. Only have to fly back to the country once a quarter if the schedules for the board meetings work out."

BOD positions are ultimate retirement work. Sick $/hr, and expenses paid for travel back from your "primary residence in mexico" or wherever.

- - - Updated - - -

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Instead of Bic pens, I can import some dope ass Japanese 0.5mm fine tip pens.

Miniso has some really nice pens. srs.

[killramos]

Primary residence in Mexico. That’s funny.

[blitz]

With all the unknowns that far out, my plan is just to save as much as I can while still having fun now. Then I'll let the retirement age and lifestyle determine itself.

[max_boost]

Do you really know what your future self wants? It's good to plan and let your money grow tho. Playing with the compound interest calculator is fun. Life is all about having options, leverage and being in the FU position (whatever that means to you).

Turning 39 in a few months and thinking back to the previous decade or two, did I expect to be single without even a pet at this age? haha not really but it is what it is.

I agree with the statement that real Ballers don't retire, they simply allocate their energy/time/money towards other things.