Really just matters how much you spend/want to spend

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Apr 5, 2021
4:15:33pm

BYUFootballisBack All-American

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BYUFootballisBack

Previous username: oddsewer
Bio page: BYUFootballisBack
Joined: Apr 29, 2007
Last login: Jun 10, 2024
Total posts: 14,092 (722 FO)

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Messages

Author

Time

How much money would you need in the bank to be comfortable retiring at 45?

holipuluki

4/5/21 12:04pm

$5 million

CBaass

4/5/21 12:05pm

$15 million.

ReyOso

4/5/21 12:06pm

People are so unrealistic with their retirement needs

JOPE

4/5/21 12:16pm

How is that unrealistic?

ReyOso

4/5/21 12:18pm

To be fair, the question says "need", but is intended to be a "want" question

holipuluki

4/5/21 12:27pm

Yup, these are all "want" answers

LiveCoug

4/5/21 12:28pm

Sorta. I love my job, so I'd need 15M if you wanted to convince me to retire.

ReyOso

4/5/21 12:36pm

I find that anyone who loves their job that much are really boring people and

Baron

4/5/21 1:10pm

Exactly right. "Comfortable."

ReyOso

4/5/21 12:31pm

I wouldn't retire if I didn't have 12-15 million at 45. All depends on lifestyle

cougfanz

4/5/21 12:32pm

If I had the house I want and could generate $300k in dividend income I’d retire

Mrs Featerbottom

4/5/21 12:06pm

Why do you have to live off the dividend income, w/out decreasing the principle.

lilpenny

4/5/21 12:24pm

If you can keep the principle in tact then you never run out of money

CBaass

4/5/21 1:44pm

There are some real tax benefits under the current capital gains taxes

Nat Gas Man

4/5/21 1:52pm

Having competent help or acumen yourself to structure the income doesn’t change

Turbo

4/5/21 3:17pm

Significantly more than I will have when I turn 45 next year

LiveCoug

4/5/21 12:07pm

3 Million USD

lilpenny

4/5/21 12:07pm

$3.5M

Born2Fish

4/5/21 12:08pm

$45k

TNT

4/5/21 12:11pm

Fully retire maybe $10 million

Non-mo Coug

4/5/21 12:12pm

Hopefully I would keep very little in a bank, but $4-5 million invested the right way

JOPE

4/5/21 12:17pm

Always used Every Million is 4K a month, and you are not touching the principle

outback747

4/5/21 12:20pm

My retirement expenses are about $2k/ month

Nat Gas Man

4/5/21 12:31pm

Does that include stuff like property taxes?

Northwest Cougar

4/5/21 12:37pm

Yea in my case about $200/mo. Could be more or less depending upon the state,

Nat Gas Man

4/5/21 1:16pm

You need Medicare Advantage

Druick

4/5/21 1:06pm

I have it.

Nat Gas Man

4/5/21 1:15pm

$1.25M That is my plan and well on the way.

TheLoneCougar

4/5/21 12:39pm

Same here, only i am already 66 . . .

85fan

4/5/21 12:42pm

Yikes. And living off that for 40-50 years?

Turbo

4/5/21 3:19pm

The math to have your money last for 30 years or forever is basically the same

BYUFootballisBack

4/5/21 3:58pm

You’re right but there’s no way I try to do it on a million bucks at 45

Turbo

4/5/21 4:09pm

Really just matters how much you spend/want to spend

BYUFootballisBack

4/5/21 4:15pm

No it matters how much things cost

Turbo

4/5/21 4:25pm

Inflation is taken into account or at least should be

BYUFootballisBack

4/5/21 4:34pm

Yup. Good luck

Turbo

4/5/21 4:53pm

It's all about expenses, plus I have a little bit of cash that comes in monthly outside of W2 income.

TheLoneCougar

4/5/21 5:51pm

This is where I'm at. We live on $50k a year, and we could live off the interest

RUNBYU1

4/5/21 5:23pm

$15 million

Texas Hammer

4/5/21 12:51pm

~$1 million

BYUFootballisBack

4/5/21 1:41pm

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