Is $10 million enough for you to retire? Is it a good end game target?
>>1139267
Its just good enough I guess.
Im shooting for 20 million.
sounds about right
10mm is good
I don't think I'd need more than 20mm :3
>>1139291
Yeah pretty weird.
Except I didn't use the gay smiley face.
>>1139267
10M lets you live on live on like 300-400K/year. You can spend like $1000 a day. Seems pretty good senpai.
>>1139306
How long do you plan to live until?
Your proposing to live around 22-25 years?
Sounds kind of shitty.
>>1139267
>>1139288
>>1139289
Shit, 10 million? 20 million? To retire? Are you fucking serious?
I could retire with 3 mill. Maybe 2. Stick that shit in stocks with ~5% dividends and live off 100K to 150K per year with a 15% tax rates. For. Doing. Nothing.
This thread was jaw dropping. You guys are greedy bastards.
>>1139312
You cant live 100k-150k every year on only 3 million. How much would you put in stocks to think you will even get that through dividends. Also what if the stocks cant afford the dividends and are a sinking ship.
You would have to invest all 3 mill into one company that pays dividends and hope that company can sustain you for life 40+ years?
Trust 3 mill is nothing.
>>1139310
>What is living off of interest
>what is living off of dividends
>what is not spending the principal of your investment and living off of the fucking interest
>>1139325
>You cant live 100k-150k every year on only 3 million.
If I'm not making that much before retirement, why would I have to make that much after? If anything, I should be able to live on less in retirement as I wouldn't have any dependents and would be debt-free.
Hell, if it weren't for medicine my grandparents could probably survivie off of social security alone. I don't know why /biz/ is full of people who criticize poor people for spending so much money while also apparently requiring a thousand dollars a day for spending.
>>1139325
Ok. Maybe 5% dividends is a tad aggressive, but you can absolutely find many stable, long existing companies that pay 3-4% dividends. Which on a 3 million dollar investment comes out to 90k to 120k per year.
Do you earn or need that much per year now? or are you a living the imaginary /biz/ wolf of wall street lifestyle in your head?
>>1139331
Ok and how much of that 10 million will you be putting in stocks? What annual return % are you expecting on that to support you 400k life style for up to 40+ years?
If you put it all into a mutual fun you are asking for 3-4% return annualy? You think taxes wont take a chunk of that if they see you have 10 mill?
>>1139333
You didn't read my whole sentence you can not expect for a 5% divedend to be paid annually for the rest of your life from one company its just not feasible.
>>1139345
Ill bite. I do not earn that much and I don't live a rich lifestyle.
With that said you think inflation wont make your 150k look a lot less in the next 40 years?
Yes, pretty much. Spending $10k every month would last for 80 years.
>>1139355
Yes, inflation would take a chunk and it is a risk. But keep in mind that the value of stocks typically go up over time, matching inflation. And dividends paying stock typically increase the amount in dividends they pay to continue to be in that 3-4% payment range.
Also other factors to consider:
-Lower capital gains tax rate.
-If you spend less than you earn, then reinvest for compounding.
-If a stock goes up to a particularly high value, sell and reinvest after market corrects.
All of this is a giant thought experiment. I, like you, don't earn 120k per year in salary. I also don't have 3 million dollars to invest. But I'm just trying to be realistic with an achievable goal, as most people will earn no where near 10 million dollars an their entire life time, let alone have that amount saved for retirement.
>>1139325
The S&P500 averages 2.5% dividends. Dump 3 million into VOO or SPY and you have essentially guaranteed $75k income without ever touching your capital, and that's not including any capital appreciation.
I could readily live with about a million in savings (at 2.5% dividends, that's 30k/year income). That's enough to cover all my living expenses plus some left over. I wouldn't "retire" on this money; it would simply allow me to pursue business ventures where I will make more.
My number one goal right now is to build up enough capital investments to cover my living costs. At that point of financial independence, I will be totally free to pursue whatever ventures I want. This is where the big money will come from.
>>1139396
And that million dollar savings requirement is only if I completely ignore selling any shares (ie ignore capital appreciation). If you go with the reasonable 4% per year safe withdrawal rate, I'd only need about $600k or $700k to be financial independent.
The only reason people say "oh you need way more money than that to retire!" is because they live lavishly, finance new cars every two years, live in a house that's too big, go out to eat all the time, dump thousands of dollars a year into "vacations" where they're still just as stressed out about work, etc etc. I'm naturally an inexpensive person, and with a little bit of molding over the last year or two I've lowered my living expenses to well below that of most people I've encountered.
tl;dr git good and success is an inevitability
100k is good tbqh
>>1139383
Will they not be able to see the capital you have invested in stocks/funds? I know in America you need to file all your capital. Otherwise you may receive an audit.
>most people will earn no where near 10 million dollars an their entire life time, let alone have that amount saved for retirement.
We can both agree on that. Unless the life expectancy can be prolonged.
>>1139396
>>1139403
Actually not bad. Although I think if you were to try to retire on that amount (I realize you said you wouldn't want to retire with that amount) 75k per year will eventually be downsized with future inflation. However if you are frugal then it actually sounds plausible. Good post.
>>1139299
LOL
>>1139267
I would quit my job as soon as I hit $1 million net worth.
>>1139267
I could easily retire on 500 grand.
>>1139312
depends where you live, in NY you can barely get by on that
>>1139741
Why the fuck would you retire in NYC?
>>1139355
>you can not expect for a 5% divedend to be paid annually for the rest of your life from one company its just not feasible.
Where are you getting "one company" from? Put that money in the S&P and even with a conservative track you'll get 5% returns plus dividends.
>>1139660
>easily
Don't know about that. 20k/year plus dividends and social security still isn't all that much.
I make 200k right now and I'm only shooting for 2 mil to retire at 40. Who the fuck needs 10 million dollars in retirement?
>>1139777
>45 years with 2 mil
I hope you're not planning on doing anything fun for the rest of your life.
You literally need 2 million and you could live comfortably for the next 50 years. You could easily live off of 2k a month after you buy a house or apartment and you'd still have money left over.
>>1139824
>You could easily live off of 2k a month after you buy a house or apartment and you'd still have money left over.
that is not enough money. im 32, own my house in full, and barely do anything. 2k will not cut it.
>>1139847
What the fuck are you spending your money on?
With no housing expense I could easily live on less than 2k. Food, utilities, internet and gas/insurance for my car barely even breaks 1k for me.
>>1139813
>oh bad goyim don't you want this fancy new car and these first class plane tickets?
>>1139267
How do people even make this amount?
It clearly cannot be wage slavery. My father is a self-employed business man, my mother a robotically working dentist who specializes in implantation surgery, especially cases with little bones present. She probably makes the most that a professional could possibly earn regularly.
So what do those people do? They must be the top percentage entrepreneurs who produce and sell the right product. Who are they? Genius Chemistry students who found an amazing game-changing compound? Engineering veterans who solved an age old production inefficiency problem by tinkering for dozens of years in their garage (don't make me laugh)? Perhaps its people who sell a completely worthless gimmicky plastic thing only plebs buy because they can. Or do they slightly change cosmetics and sell them as specialist products to women who cannot handle money?
What do they do?
What do you do?
When I think of a product I think of an automatized logistics system that is cheaper than what the competitors do. Or artificial organs. And other such things that almost certainly don't make as much money as the gimmick products the nouveau riche sell.
Fuck. How to develop a successful gimmick AAAAAHHHHHHH
I would do just fine on 1 million. I would do amazing on 3 million.
10 million just means I decided to work for way too fucking long.
>>1139267
1 million would work for me.
Memers think you need 10mil?
You wont possibly need more than 5 unless you ned a new iPhone every week
>>1139267
>10 million
shit son, I could live like an emperor off of interest I earn from 500k dollars
then again I live in one of the poor Eurocunts
More than enough. With that much you can draw down a pretty large amount while still compounding and growing the initial principal.
Just diversify it over a large portion of assets; index funds, etf's, hedge funds, private equity funds, bonds, property.
$1 million could do this.
>>1139267
>$10 mil
>1% is 100k, divs will prob pay 3%
id be happy with $1mil tbqh
I live off less than 20k USD a year. 4% rule suggests I could retire with half a million
>>1139989
What has Corbusier to do with it?
>>1139989
>my mother a robotically working dentist who specializes in implantation surgery, especially cases with little bones present.
Ask her if she needs a good worker.I can start at any position she wants as long it is not cleaning toilets.
24yo DMD finishing dental uni this year,studied my ass of but I'm in the Balkans which means I will be working for 300euros per month for the next 40 years.
Seriously I don't mind working hard for a regular(for American standards) wage.
>>1139267
I can retire whenever I want and I think it's hilarious anyone on here thinks they will ever have 20 million.
I swear this board should be called /delusion/ because most of you are living in fantasy world.
>>1140607
I don't know why someone would go on here to lie about wealth. We already have a multimillionaire who posts here, iHaz. It's not that impressive anymore.
>>1140625
This. One tripfag who lies about his wealth is plenty.
>>1139756
I doubt SS will be around that long anyway.
>>1140630
This is such a silly thing that people say. Letting social security fail is literally the least popular thing to do in Congress. They will never let that happen. The worst thing that will ever happen is increasing the retirement age (which should happen anyway, frankly).
>>1140633
Well the current system is pretty fucked, either it will fail on its own or they will replace/restructure it to something new
That would be $70000/monthly after inflation, in my country.
Hell yeah, that would be enough.
>>1140630
YOU FORGOT ABOUT HOW MANY PEOPLE INCLUDING BOOMERS WILL GET BTFO IN WW3
>>1140636
>either it will fail on its own or they will replace/restructure it to something new
Anon, they'll just increases taxes or increase the retirement age. Both completely resolves the problem.
It's really not that big of an issue.
I'm 24 and I could retire right now if I had $10 million, including buying a house and a new car.
>>1141034
Absolutely. Invest most of it into S&P or something stable, live a modest and comfy life.
>>1139813
2 mil with 4% dividends will get you 80k, even if you only get 3% dividends 60k is easy to live off, I live off 20k a year and bank the rest of my pay, I still have a strong social life and the 20k/year includes $100 a week to blow on shit
>$10 million estimated
>$3-5 million in the markets, depending on how stocks are doing
>$1 million liquor store or other business
>$1.5 million franchise at an ideal location
>$4-5 million commercial real estate development netting commercial rent
I know people more or less in this position. It doesn't ever really end, life just gets better. At some point you have to defend what's yours from economic rivals, which means getting chummy with the city council and the development board. It means defending your "territory" from rivals by rigging local political events. It means rallying support for yourself socially so that you aren't the odd man out when it comes time to hang somebody out to dry.
But you get weekend vacations, a relatively easy workload, and enough money to lead a very comfortable lifestyle.
I could retire on $500,000 and be comfortable, fed, insured, with access to cable and internet, a car, gas, phone, etc.
I don't settle for mediocrity though. If godhood was an attainable peak goal, I would strive for it. I'll settle with being the progenitor of a new dynasty though.
>>1140591
I guess I missed you. The practice is in Germany. She generally is always looking for good workers. You won't be cleaning toilets and she'll pay well above union rates. She doesn't speak good English, however. German, Polish and Russian. She usually gets borderline retards and fires at a high rate, but those who actually do what they are supposed to do will probably enjoy the stay. You'll probably learn a lot there. It's a very modern practice.
Email in email field. Send your apply, I'll hand it to her.
>>1141732
Looks like email fields don't work anymore. I'M out of the loop.
coffeestories@ web .de
A typical hospital stay costs $2k a night. I take it everyone thinking to retire on less than $50k/year isn't planning to ever need that?
>>1139910
Some people enjoy travel, m8. I don't see why that's somehow more Jewish than staying in a tiny fucking house for 45 years.
>>1141736
Alright man thanks a lot.
I will send it later this week and see if she needs an intern that is willing to commit.
The delay will be caused because I have final exams coming up and I really need to sit down and think about what i will write.
Thanks again
