42yo. Current expenses are 75k. Giving myself some room in future (kids etc), I can withdraw 120k (<4% SWR). I’ll probably withdraw less in first few years though.
Am I good to escape the rat race?
24 replies (most recent on top)
this whole thread is one BS troll article. the OP has been identified as cross posting on other blogs. ignore.
you can survive with that money
Inflation: hold my beer.
OP why did you post the same thing in Blind under a figma.com account 3 days ago, then come here and post in the cisco section?
I'm 80 years old, retired at 50 with 2 million.
Invested in the stock market, now I have 20 million. I invested in precious metals, oil, tech, and cryoto. I funded an adult website in my 60s for fun.
I own 10 sports cars and drive around all day bragging about how rich I am. Life is good!
@1nku+1um5IzcB absolutely you can survive with that money but you should be willing to move to cheaper areas within US or to other cheaper countries
You think you can survive ~40 years on 3.2M?
Very doubtful. Do you own your own house outright?
If the US govt cannot get its spending under control, 3.2M might buy you a nice steak in about 2030.
Personally I'm going to barista fire. Just work a chill job that you actually care about and who cares what the TC is.
Even a 50k role - not actually a barista, just a much chiller job - on 20 hours a week keeps you engaged and will make your cashflow safe.
Why not switch to a part-time role instead? You'll get a taste of retirement without any risk to financial security.
No wife no kids? No wonder you have 3.2M.
I'm 55 and have 7 million saved. No inheritance, just frugal living and investing. Still drive a 20 year old car.
And still browsing Thelayoff.
I'm 55 and have 7 million saved. No inheritance, just frugal living and investing. Still drive a 20 year old car.
Congrats! Retire! If you change your mind you can always return to the drudgery.
Liar
In my opinion thr OP is too stupid to have that kind of money. If you have that monry you are smart enough to know that this is not the place to ask this. Maybe the place to show off. I think is just another mental fa-t of those derranged people who are losing it while waiting
Can OP shed light how he accumulated 3.2 m, family inheritance or playing lottery? Most folks with family save money whole their life and can barely have, say a million if they are lucky. If you have been saving and eating ramen or pasta, not everyone would want this way.
Nonetheless you have money to retire or do something fun and more interesting without having to fight daily drudgery of bad management and suffering mental health problems.
How does this person have 3.2M at 42 years old?
What is your monthly expenses look like in terms of rent, food, utilities, life?
Do you live in a box and eat top ramen or something?
Mexico has better health insurance than US
My recommendation....use your company benefits and actually talk to a financial advisor before the deadline.
"Health insurance is extremely expensive before you reach 65. Then after you hit 65 expect to pay for a Medicare Supplement."
I am 65+ and was laid off last year. I am on Medicare and am paying more than $700 per month just for myself. This includes: Medicare premium, Medicare supplement, Medicare Part D, Dental and vision. Health insurance is extremely expensive even after you turn 65.
The past four years under Biden the cost has gone up a lot.
Health insurance is extremely expensive before you reach 65. Then after you hit 65 expect to pay for a Medicare Supplement.
Maybe FIRE in Canada or a first world country with national healthcare?
Congratulations for your good financial achievement.
For financial advice go to r/FIRE and r/CoastFIRE
You have 3.2M at 42 years and thinking to retire ?
That's definitely good assuming your partner will have saved up some as well. But 42 too early to retire. Just find a job that pays all the expenses and mortgage and watch the 3.2M grow
Why are you posting financial advice here ?