Reply
Page 1 of 2 1 2 LastLast
Results 1 to 30 of 44
  1. #1
    Registered User SoutheastBeast1's Avatar
    Join Date: Mar 2013
    Age: 34
    Posts: 34,146
    Rep Power: 112580
    SoutheastBeast1 has a reputation beyond repute. Second best rank possible! (+100000) SoutheastBeast1 has a reputation beyond repute. Second best rank possible! (+100000) SoutheastBeast1 has a reputation beyond repute. Second best rank possible! (+100000) SoutheastBeast1 has a reputation beyond repute. Second best rank possible! (+100000) SoutheastBeast1 has a reputation beyond repute. Second best rank possible! (+100000) SoutheastBeast1 has a reputation beyond repute. Second best rank possible! (+100000) SoutheastBeast1 has a reputation beyond repute. Second best rank possible! (+100000) SoutheastBeast1 has a reputation beyond repute. Second best rank possible! (+100000) SoutheastBeast1 has a reputation beyond repute. Second best rank possible! (+100000) SoutheastBeast1 has a reputation beyond repute. Second best rank possible! (+100000) SoutheastBeast1 has a reputation beyond repute. Second best rank possible! (+100000)
    SoutheastBeast1 is offline

    Is 1.6 million not enough to retire at 52?

    Been reading a blog where financial advisors weigh in on questions like these by real people asking.

    The scenario even said the guy felt he could live comfortably on 60k a year. But the response was that he would be better off working 10 more years... wtf??

    I feel like 1.6 mil is plenty to live on in this scenario. The 1.6 was split between a brokerage and 401k evenly. He also said he owned his house and had 6 months emergent funds outside of the 1.6 mil

    Are these financial planners whack or telling the truth? That’s depressing as f*ck if they don’t even think this scenario the guy could retire.
    Professional Misc Rustler

    "But the people we saved, they're our legacy. And they'll remember us and then I guess we'll eventually fade away too. But that's fine. Cause we left the world better than we found it, ya know."
    -Sam Winchester
    Reply With Quote

  2. #2
    True Patriot Crew ~Hades~'s Avatar
    Join Date: Dec 2007
    Posts: 17,333
    Rep Power: 446327
    ~Hades~ has a reputation beyond repute. Second best rank possible! (+100000) ~Hades~ has a reputation beyond repute. Second best rank possible! (+100000) ~Hades~ has a reputation beyond repute. Second best rank possible! (+100000) ~Hades~ has a reputation beyond repute. Second best rank possible! (+100000) ~Hades~ has a reputation beyond repute. Second best rank possible! (+100000) ~Hades~ has a reputation beyond repute. Second best rank possible! (+100000) ~Hades~ has a reputation beyond repute. Second best rank possible! (+100000) ~Hades~ has a reputation beyond repute. Second best rank possible! (+100000) ~Hades~ has a reputation beyond repute. Second best rank possible! (+100000) ~Hades~ has a reputation beyond repute. Second best rank possible! (+100000) ~Hades~ has a reputation beyond repute. Second best rank possible! (+100000)
    ~Hades~ is offline
    Lots of variables. 60k per year would last him 26 years. Obviously the first question is how old the guy is.


    Surely you understand that just throwing an arbitrary number out there isn’t enough info.

    Some people could make that last 50 years. Others wouldn’t make it 10.
    Royals Crew
    Chiefs Crew

    Festivus Crew

    His name is Robert Paulson
    Reply With Quote

  3. #3
    Registered User SoutheastBeast1's Avatar
    Join Date: Mar 2013
    Age: 34
    Posts: 34,146
    Rep Power: 112580
    SoutheastBeast1 has a reputation beyond repute. Second best rank possible! (+100000) SoutheastBeast1 has a reputation beyond repute. Second best rank possible! (+100000) SoutheastBeast1 has a reputation beyond repute. Second best rank possible! (+100000) SoutheastBeast1 has a reputation beyond repute. Second best rank possible! (+100000) SoutheastBeast1 has a reputation beyond repute. Second best rank possible! (+100000) SoutheastBeast1 has a reputation beyond repute. Second best rank possible! (+100000) SoutheastBeast1 has a reputation beyond repute. Second best rank possible! (+100000) SoutheastBeast1 has a reputation beyond repute. Second best rank possible! (+100000) SoutheastBeast1 has a reputation beyond repute. Second best rank possible! (+100000) SoutheastBeast1 has a reputation beyond repute. Second best rank possible! (+100000) SoutheastBeast1 has a reputation beyond repute. Second best rank possible! (+100000)
    SoutheastBeast1 is offline
    Originally Posted by ~Hades~ View Post
    Lots of variables. 60k per year would last him 26 years. Obviously the first question is how old the guy is.


    Surely you understand that just throwing an arbitrary number out there isn’t enough info.

    Some people could make that last 50 years. Others wouldn’t make it 10.
    It’s literally in the title and there’s not much arbitrary about the scenario. I pretty much broke it down if you read it all.

    You took quite frankly the most lazy approach ever to saying it would last him 26 years

    It would last him 26 years at a bare minimum if pulled all of the money out of his accounts and held onto the cash itself.


    Want to take another crack at responding beyond a lazy 1.6 mil / 60k = 26 years calculation?
    Professional Misc Rustler

    "But the people we saved, they're our legacy. And they'll remember us and then I guess we'll eventually fade away too. But that's fine. Cause we left the world better than we found it, ya know."
    -Sam Winchester
    Reply With Quote

  4. #4
    Registered User homersexual's Avatar
    Join Date: Oct 2011
    Posts: 2,782
    Rep Power: 24813
    homersexual has much to be proud of. One of the best! (+20000) homersexual has much to be proud of. One of the best! (+20000) homersexual has much to be proud of. One of the best! (+20000) homersexual has much to be proud of. One of the best! (+20000) homersexual has much to be proud of. One of the best! (+20000) homersexual has much to be proud of. One of the best! (+20000) homersexual has much to be proud of. One of the best! (+20000) homersexual has much to be proud of. One of the best! (+20000) homersexual has much to be proud of. One of the best! (+20000) homersexual has much to be proud of. One of the best! (+20000) homersexual has much to be proud of. One of the best! (+20000)
    homersexual is offline
    How hard would it be to survive off interest alone from $1.6 million? Even on the conservative side he'd have $50k/yr to spend. I've seen guys pack up and leave for eastern Europe and SEA with 1/4 of that amount and live very comfortably. Fukc working until 60+ and then dying from an illness before you even get to enjoy retirement.
    -SF Gigantes y SF 49ers-
    Reply With Quote

  5. #5
    Registered User NoScrubz's Avatar
    Join Date: Dec 2020
    Age: 51
    Posts: 498
    Rep Power: 1784
    NoScrubz is just really nice. (+1000) NoScrubz is just really nice. (+1000) NoScrubz is just really nice. (+1000) NoScrubz is just really nice. (+1000) NoScrubz is just really nice. (+1000) NoScrubz is just really nice. (+1000) NoScrubz is just really nice. (+1000) NoScrubz is just really nice. (+1000) NoScrubz is just really nice. (+1000) NoScrubz is just really nice. (+1000) NoScrubz is just really nice. (+1000)
    NoScrubz is offline
    Of course it's enough to retire, you even stated it in the OP: "The scenario even said the guy felt he could live comfortably on 60k a year. But the response was that he would be better off working 10 more years".

    Yeah 60k (probably 55k/year at 4% withdraw rate less taxes) is good enough to live on but obviously the more the better. I'm aiming for minimum $3 mil to even consider retiring. In the scenario you provided the guy will get by but I'm sure at that point you'll want to be able to fund hobbies and travel and other chit like that rather than rot every day during your retirement.
    Reply With Quote

  6. #6
    Registered User TugOfPeace's Avatar
    Join Date: Oct 2013
    Posts: 7,749
    Rep Power: 39830
    TugOfPeace has much to be proud of. One of the best! (+20000) TugOfPeace has much to be proud of. One of the best! (+20000) TugOfPeace has much to be proud of. One of the best! (+20000) TugOfPeace has much to be proud of. One of the best! (+20000) TugOfPeace has much to be proud of. One of the best! (+20000) TugOfPeace has much to be proud of. One of the best! (+20000) TugOfPeace has much to be proud of. One of the best! (+20000) TugOfPeace has much to be proud of. One of the best! (+20000) TugOfPeace has much to be proud of. One of the best! (+20000) TugOfPeace has much to be proud of. One of the best! (+20000) TugOfPeace has much to be proud of. One of the best! (+20000)
    TugOfPeace is offline
    Let's say the guy lives to 85.

    85-52 = 33 years

    He has $1.6 million. If he were to spread that out over 33 years, he would have $48,484/year to spend.

    The standard deduction is $12,550 for a single person. Let's keep it simple and assume he only has the standard deduction working in his favor, so his taxable income is $35,394/year. After taxes, he would have $31,147 to spend.

    $31,147 is $2596/month. Let's break down his expenses.

    House - paid off
    Utilities + Internet + Cable - Let's estimate $250
    Food/Entertainment - Let's estimate $800
    Gas - Let's estimate $100
    Car maintenance - Let's estimate $720/year, or $60/month
    Travel - Let's say he has one vacation per year that costs $5000. Over a year that's $416/month.
    House maintenance, other miscellaneous items - $100/month
    Medical expenses - $400/month (guessing here)
    Property tax - ?
    -------------------------
    Per month, he saves $470. With the property tax figure, he probably saves next to nothing.

    Now, when you take into inflation, he has even less, unless he is beating inflation in his 401k/brokerage (which he probably is).


    So my guess is, yes it's possible to do it. How luxurious his life would be, that I don't know.
    Reply With Quote

  7. #7
    Registered User TugOfPeace's Avatar
    Join Date: Oct 2013
    Posts: 7,749
    Rep Power: 39830
    TugOfPeace has much to be proud of. One of the best! (+20000) TugOfPeace has much to be proud of. One of the best! (+20000) TugOfPeace has much to be proud of. One of the best! (+20000) TugOfPeace has much to be proud of. One of the best! (+20000) TugOfPeace has much to be proud of. One of the best! (+20000) TugOfPeace has much to be proud of. One of the best! (+20000) TugOfPeace has much to be proud of. One of the best! (+20000) TugOfPeace has much to be proud of. One of the best! (+20000) TugOfPeace has much to be proud of. One of the best! (+20000) TugOfPeace has much to be proud of. One of the best! (+20000) TugOfPeace has much to be proud of. One of the best! (+20000)
    TugOfPeace is offline
    In my opinion though, I don't see the point in retiring at 52. If the person took care of his body/health, 52 is very young. It would be very boring to retire that early.
    Reply With Quote

  8. #8
    It's not the gun, stupid. Ikeman83's Avatar
    Join Date: Aug 2012
    Location: Newport, Rhode Island, United States
    Posts: 27,759
    Rep Power: 211510
    Ikeman83 has a reputation beyond repute. Second best rank possible! (+100000) Ikeman83 has a reputation beyond repute. Second best rank possible! (+100000) Ikeman83 has a reputation beyond repute. Second best rank possible! (+100000) Ikeman83 has a reputation beyond repute. Second best rank possible! (+100000) Ikeman83 has a reputation beyond repute. Second best rank possible! (+100000) Ikeman83 has a reputation beyond repute. Second best rank possible! (+100000) Ikeman83 has a reputation beyond repute. Second best rank possible! (+100000) Ikeman83 has a reputation beyond repute. Second best rank possible! (+100000) Ikeman83 has a reputation beyond repute. Second best rank possible! (+100000) Ikeman83 has a reputation beyond repute. Second best rank possible! (+100000) Ikeman83 has a reputation beyond repute. Second best rank possible! (+100000)
    Ikeman83 is online now
    I'd rather semi-retire or open an easy turnkey business.
    What part of "Shall Not Be Infringed" are you having trouble with?

    Misc Firearms Crew
    Reply With Quote

  9. #9
    Registered User goonsondeck's Avatar
    Join Date: Aug 2016
    Age: 33
    Posts: 1,574
    Rep Power: 4522
    goonsondeck is a glorious beacon of knowledge. (+2500) goonsondeck is a glorious beacon of knowledge. (+2500) goonsondeck is a glorious beacon of knowledge. (+2500) goonsondeck is a glorious beacon of knowledge. (+2500) goonsondeck is a glorious beacon of knowledge. (+2500) goonsondeck is a glorious beacon of knowledge. (+2500) goonsondeck is a glorious beacon of knowledge. (+2500) goonsondeck is a glorious beacon of knowledge. (+2500) goonsondeck is a glorious beacon of knowledge. (+2500) goonsondeck is a glorious beacon of knowledge. (+2500) goonsondeck is a glorious beacon of knowledge. (+2500)
    goonsondeck is offline
    depends where you want to retire

    3rd world country very easily

    1st world country you buy a property in a decent but cheap area for 600k and the 1mil gets indexed which returns you on average 40-50k roughly

    so yes its doable but your quality of life is very simple

    someone please correct me I am wrong on the % return
    Reply With Quote

  10. #10
    Registered User goonsondeck's Avatar
    Join Date: Aug 2016
    Age: 33
    Posts: 1,574
    Rep Power: 4522
    goonsondeck is a glorious beacon of knowledge. (+2500) goonsondeck is a glorious beacon of knowledge. (+2500) goonsondeck is a glorious beacon of knowledge. (+2500) goonsondeck is a glorious beacon of knowledge. (+2500) goonsondeck is a glorious beacon of knowledge. (+2500) goonsondeck is a glorious beacon of knowledge. (+2500) goonsondeck is a glorious beacon of knowledge. (+2500) goonsondeck is a glorious beacon of knowledge. (+2500) goonsondeck is a glorious beacon of knowledge. (+2500) goonsondeck is a glorious beacon of knowledge. (+2500) goonsondeck is a glorious beacon of knowledge. (+2500)
    goonsondeck is offline
    Originally Posted by TugOfPeace View Post
    In my opinion though, I don't see the point in retiring at 52. If the person took care of his body/health, 52 is very young. It would be very boring to retire that early.
    commuting to work on the train and fighting crowds to sit in a cubicle is not very appealing to most people

    if you enjoy what you do sure work till you are dead
    Reply With Quote

  11. #11
    Registered User goonsondeck's Avatar
    Join Date: Aug 2016
    Age: 33
    Posts: 1,574
    Rep Power: 4522
    goonsondeck is a glorious beacon of knowledge. (+2500) goonsondeck is a glorious beacon of knowledge. (+2500) goonsondeck is a glorious beacon of knowledge. (+2500) goonsondeck is a glorious beacon of knowledge. (+2500) goonsondeck is a glorious beacon of knowledge. (+2500) goonsondeck is a glorious beacon of knowledge. (+2500) goonsondeck is a glorious beacon of knowledge. (+2500) goonsondeck is a glorious beacon of knowledge. (+2500) goonsondeck is a glorious beacon of knowledge. (+2500) goonsondeck is a glorious beacon of knowledge. (+2500) goonsondeck is a glorious beacon of knowledge. (+2500)
    goonsondeck is offline
    Originally Posted by TugOfPeace View Post
    Let's say the guy lives to 85.

    85-52 = 33 years

    He has $1.6 million. If he were to spread that out over 33 years, he would have $48,484/year to spend.

    The standard deduction is $12,550 for a single person. Let's keep it simple and assume he only has the standard deduction working in his favor, so his taxable income is $35,394/year. After taxes, he would have $31,147 to spend.

    $31,147 is $2596/month. Let's break down his expenses.

    House - paid off
    Utilities + Internet + Cable - Let's estimate $250
    Food/Entertainment - Let's estimate $800
    Gas - Let's estimate $100
    Car maintenance - Let's estimate $720/year, or $60/month
    Travel - Let's say he has one vacation per year that costs $5000. Over a year that's $416/month.
    House maintenance, other miscellaneous items - $100/month
    Medical expenses - $400/month (guessing here)
    Property tax - ?
    -------------------------
    Per month, he saves $470. With the property tax figure, he probably saves next to nothing.

    Now, when you take into inflation, he has even less, unless he is beating inflation in his 401k/brokerage (which he probably is).


    So my guess is, yes it's possible to do it. How luxurious his life would be, that I don't know.
    you invest the capital you don't use it

    live of dividends
    Reply With Quote

  12. #12
    Registered User MountainLion84's Avatar
    Join Date: Aug 2011
    Age: 36
    Posts: 1,765
    Rep Power: 13504
    MountainLion84 is a splendid one to behold. (+10000) MountainLion84 is a splendid one to behold. (+10000) MountainLion84 is a splendid one to behold. (+10000) MountainLion84 is a splendid one to behold. (+10000) MountainLion84 is a splendid one to behold. (+10000) MountainLion84 is a splendid one to behold. (+10000) MountainLion84 is a splendid one to behold. (+10000) MountainLion84 is a splendid one to behold. (+10000) MountainLion84 is a splendid one to behold. (+10000) MountainLion84 is a splendid one to behold. (+10000) MountainLion84 is a splendid one to behold. (+10000)
    MountainLion84 is offline
    Couldn’t he also sell his house and downsize later?
    Reply With Quote

  13. #13
    Md, Misc, Old-Brah SillieBazzillie's Avatar
    Join Date: Jul 2011
    Location: Maryland, United States
    Age: 53
    Posts: 30,811
    Rep Power: 115365
    SillieBazzillie has a reputation beyond repute. Second best rank possible! (+100000) SillieBazzillie has a reputation beyond repute. Second best rank possible! (+100000) SillieBazzillie has a reputation beyond repute. Second best rank possible! (+100000) SillieBazzillie has a reputation beyond repute. Second best rank possible! (+100000) SillieBazzillie has a reputation beyond repute. Second best rank possible! (+100000) SillieBazzillie has a reputation beyond repute. Second best rank possible! (+100000) SillieBazzillie has a reputation beyond repute. Second best rank possible! (+100000) SillieBazzillie has a reputation beyond repute. Second best rank possible! (+100000) SillieBazzillie has a reputation beyond repute. Second best rank possible! (+100000) SillieBazzillie has a reputation beyond repute. Second best rank possible! (+100000) SillieBazzillie has a reputation beyond repute. Second best rank possible! (+100000)
    SillieBazzillie is online now
    If he lives frugally it would be enough money. He'll also pull SS in another decade to supplement his income.

    He still won't have enough to travel and do whatever he wants whenever he wants, but he could certainly move to Florida say and get by just fine.

    His biggest problem would be boredom and lack of direction. Hopefully you young boyos have chosen careers that make you feel fulfilled and give you some satisfaction in life. That's hard to replace. I don't think man was made to just chill and hobby during the prime of your life (definitely not srs about the prime of your life part...). Now if the dude volunteers, gets a part time gig, gets involved in politics, etc that makes him feel useful to society he'd likely be good to go.
    Early AM workout crew.
    Holy crap dude, Satan's huge crew.
    Reply With Quote

  14. #14
    test the limits RobParks2M's Avatar
    Join Date: Nov 2016
    Posts: 9,882
    Rep Power: 60003
    RobParks2M has much to be proud of. One of the best! (+20000) RobParks2M has much to be proud of. One of the best! (+20000) RobParks2M has much to be proud of. One of the best! (+20000) RobParks2M has much to be proud of. One of the best! (+20000) RobParks2M has much to be proud of. One of the best! (+20000) RobParks2M has much to be proud of. One of the best! (+20000) RobParks2M has much to be proud of. One of the best! (+20000) RobParks2M has much to be proud of. One of the best! (+20000) RobParks2M has much to be proud of. One of the best! (+20000) RobParks2M has much to be proud of. One of the best! (+20000) RobParks2M has much to be proud of. One of the best! (+20000)
    RobParks2M is offline
    My target was always 2 to 3 million and I could retire regardless of age. That would leave me with about $100k growth/return from investments and I could definitely live off that. In addition I'd probably have a part time job cuz I'd be super bored otherwise.

    That said, 1.6 million at 52 with paid off home/vehicle is totally fine ASSUMING he is okay with the possibility of being in a somewhat junky nursing home if he lives to 90+. Realistically his $$ should last him well into his 70s at a minimum and as silly said he starts drawing SS late in his 60s. When money starts dwindling he can sell the house too
    Fitness connoisseur
    0.4 mg of party's over wake the FK up!
    "the personification of greatness"
    Reply With Quote

  15. #15
    Registered Abuser chino3's Avatar
    Join Date: Oct 2012
    Posts: 13,279
    Rep Power: 95379
    chino3 has a brilliant future. Third best rank! (+40000) chino3 has a brilliant future. Third best rank! (+40000) chino3 has a brilliant future. Third best rank! (+40000) chino3 has a brilliant future. Third best rank! (+40000) chino3 has a brilliant future. Third best rank! (+40000) chino3 has a brilliant future. Third best rank! (+40000) chino3 has a brilliant future. Third best rank! (+40000) chino3 has a brilliant future. Third best rank! (+40000) chino3 has a brilliant future. Third best rank! (+40000) chino3 has a brilliant future. Third best rank! (+40000) chino3 has a brilliant future. Third best rank! (+40000)
    chino3 is offline
    Originally Posted by ~Hades~ View Post
    Lots of variables. 60k per year would last him 26 years. Obviously the first question is how old the guy is.


    Surely you understand that just throwing an arbitrary number out there isn’t enough info.

    Some people could make that last 50 years. Others wouldn’t make it 10.
    Are you retarded, illiterate, or financially ignorant?
    Originally Posted by ~Hades~ View Post
    Obviously the first question is how old the guy is.
    Obviously the question is answered in the fukking title of the thread

    Originally Posted by ~Hades~ View Post
    60k per year would last him 26 years.
    The 1.6m isn't just in his checking out, and he's depleting it... If he were to put his entire nut into dividend stocks, even at a standard 4% yield grouping, that's $64k/year without touching the actual holdings...

    Originally Posted by ~Hades~ View Post
    Surely you understand that just throwing an arbitrary number out there isn’t enough info.
    Surely you're drunk, and aren't understanding the information and question that is being presented
    "It won't get better, just different."
    Reply With Quote

  16. #16
    Registered User jn677's Avatar
    Join Date: May 2014
    Age: 34
    Posts: 416
    Rep Power: 1329
    jn677 is just really nice. (+1000) jn677 is just really nice. (+1000) jn677 is just really nice. (+1000) jn677 is just really nice. (+1000) jn677 is just really nice. (+1000) jn677 is just really nice. (+1000) jn677 is just really nice. (+1000) jn677 is just really nice. (+1000) jn677 is just really nice. (+1000) jn677 is just really nice. (+1000) jn677 is just really nice. (+1000)
    jn677 is offline
    Yes it is enough. I wouldn't do it though. Semi-retire and put some of that money into a slightly more active investment (relatively turn key business/investment that involves some but not too much time) and you'll yield a higher return on that portion. Do that till for another 10-15 years then reassess.

    I definitely would stop a 9-5 if I was in that position at 52 though. My dad died at 51 after retiring due to ill health at 48 so I have a very different perspective, not everyone makes it to 85 so not a fan of 9-5 to 65+.
    Reply With Quote

  17. #17
    Registered User Destor's Avatar
    Join Date: Apr 2012
    Location: Alberta, Canada
    Age: 36
    Posts: 14,740
    Rep Power: 84292
    Destor has a brilliant future. Third best rank! (+40000) Destor has a brilliant future. Third best rank! (+40000) Destor has a brilliant future. Third best rank! (+40000) Destor has a brilliant future. Third best rank! (+40000) Destor has a brilliant future. Third best rank! (+40000) Destor has a brilliant future. Third best rank! (+40000) Destor has a brilliant future. Third best rank! (+40000) Destor has a brilliant future. Third best rank! (+40000) Destor has a brilliant future. Third best rank! (+40000) Destor has a brilliant future. Third best rank! (+40000) Destor has a brilliant future. Third best rank! (+40000)
    Destor is offline
    Prior earnings and standard of living have a big impact. That might be enough for someone who is accustomed to living on $40k/year, but it's probably not gonna be enough for a higher earner who lives and spends like a high earner
    Reply With Quote

  18. #18
    True Patriot Crew ~Hades~'s Avatar
    Join Date: Dec 2007
    Posts: 17,333
    Rep Power: 446327
    ~Hades~ has a reputation beyond repute. Second best rank possible! (+100000) ~Hades~ has a reputation beyond repute. Second best rank possible! (+100000) ~Hades~ has a reputation beyond repute. Second best rank possible! (+100000) ~Hades~ has a reputation beyond repute. Second best rank possible! (+100000) ~Hades~ has a reputation beyond repute. Second best rank possible! (+100000) ~Hades~ has a reputation beyond repute. Second best rank possible! (+100000) ~Hades~ has a reputation beyond repute. Second best rank possible! (+100000) ~Hades~ has a reputation beyond repute. Second best rank possible! (+100000) ~Hades~ has a reputation beyond repute. Second best rank possible! (+100000) ~Hades~ has a reputation beyond repute. Second best rank possible! (+100000) ~Hades~ has a reputation beyond repute. Second best rank possible! (+100000)
    ~Hades~ is offline
    Originally Posted by SoutheastBeast1 View Post
    It’s literally in the title and there’s not much arbitrary about the scenario. I pretty much broke it down if you read it all.

    You took quite frankly the most lazy approach ever to saying it would last him 26 years

    It would last him 26 years at a bare minimum if pulled all of the money out of his accounts and held onto the cash itself.


    Want to take another crack at responding beyond a lazy 1.6 mil / 60k = 26 years calculation?

    Yeah i was wasted when I read this thread lol

    This is not a good look lmao
    Royals Crew
    Chiefs Crew

    Festivus Crew

    His name is Robert Paulson
    Reply With Quote

  19. #19
    Serenity Now! FrankCostanza's Avatar
    Join Date: Sep 2019
    Posts: 6,709
    Rep Power: 9347
    FrankCostanza is a name known to all. (+5000) FrankCostanza is a name known to all. (+5000) FrankCostanza is a name known to all. (+5000) FrankCostanza is a name known to all. (+5000) FrankCostanza is a name known to all. (+5000) FrankCostanza is a name known to all. (+5000) FrankCostanza is a name known to all. (+5000) FrankCostanza is a name known to all. (+5000) FrankCostanza is a name known to all. (+5000) FrankCostanza is a name known to all. (+5000) FrankCostanza is a name known to all. (+5000)
    FrankCostanza is online now
    no worries bro you'll have social secur... never mind.


    but seriously wait a few months to find out how much inflation we're in for due to the pandemic.
    I'm not here for rage. I'm here for revenge!
    Trump 2020
    Reply With Quote

  20. #20
    Serenity Now! FrankCostanza's Avatar
    Join Date: Sep 2019
    Posts: 6,709
    Rep Power: 9347
    FrankCostanza is a name known to all. (+5000) FrankCostanza is a name known to all. (+5000) FrankCostanza is a name known to all. (+5000) FrankCostanza is a name known to all. (+5000) FrankCostanza is a name known to all. (+5000) FrankCostanza is a name known to all. (+5000) FrankCostanza is a name known to all. (+5000) FrankCostanza is a name known to all. (+5000) FrankCostanza is a name known to all. (+5000) FrankCostanza is a name known to all. (+5000) FrankCostanza is a name known to all. (+5000)
    FrankCostanza is online now
    if you ever need more money you can always downsize the house/ move somewhere cheaper. that said if you have kids don't be a ****. it's going to be harder for them to make a living. leave your house to them.
    I'm not here for rage. I'm here for revenge!
    Trump 2020
    Reply With Quote

  21. #21
    Forever aBOARD guest89's Avatar
    Join Date: Sep 2003
    Location: United States
    Posts: 29,905
    Rep Power: 91945
    guest89 has a brilliant future. Third best rank! (+40000) guest89 has a brilliant future. Third best rank! (+40000) guest89 has a brilliant future. Third best rank! (+40000) guest89 has a brilliant future. Third best rank! (+40000) guest89 has a brilliant future. Third best rank! (+40000) guest89 has a brilliant future. Third best rank! (+40000) guest89 has a brilliant future. Third best rank! (+40000) guest89 has a brilliant future. Third best rank! (+40000) guest89 has a brilliant future. Third best rank! (+40000) guest89 has a brilliant future. Third best rank! (+40000) guest89 has a brilliant future. Third best rank! (+40000)
    guest89 is offline
    I can't even tell you how many older people I know are completely retired debt free and living off of a social security check of like $1100-1400 per month. Fugging lol at saying 1.6 million is not enough to retire.


    Assuming you went with a low yielding super safe/secure dividend portfolio of 3% returns that would be a minimum of 48k per year for the rest of your life. I've seen some higher yielding dividend portfolios that are around 5%. Which would be 80K per year for the rest of your life without even dipping into that 1.6 mil. Assuming you wanted to sell off 4% per year with no dividend portfolio. That's 64K per year and in theory should still last you for the rest of your life assuming your getting average gains of 7-10% per year.



    No matter how you spin it. Its more then enough to retire. Furthermore you could always work some BS part time gig that you enjoy for like 20 hours per week to pick up some extra cash. Pool life-guard. Some kind of personal trainer, athletic coach (Tennis or some crap like that.) Etc.
    Reply With Quote

  22. #22
    Registered User DavidL913's Avatar
    Join Date: Nov 2006
    Age: 33
    Posts: 3,080
    Rep Power: 7490
    DavidL913 is a name known to all. (+5000) DavidL913 is a name known to all. (+5000) DavidL913 is a name known to all. (+5000) DavidL913 is a name known to all. (+5000) DavidL913 is a name known to all. (+5000) DavidL913 is a name known to all. (+5000) DavidL913 is a name known to all. (+5000) DavidL913 is a name known to all. (+5000) DavidL913 is a name known to all. (+5000) DavidL913 is a name known to all. (+5000) DavidL913 is a name known to all. (+5000)
    DavidL913 is offline
    how much would you need to generate 50-60k/year in the markets? just figure out that amount and keep reinvesting. gains are geometric, so they compound exponentially.

    After that, live frugally and chill. can live the the rest of your life off that amount.
    ***Los Angeles MISC Crew***

    ***Misc Crypto Crew***
    Reply With Quote

  23. #23
    Progression Visel's Avatar
    Join Date: Jan 2019
    Posts: 2,271
    Rep Power: 13978
    Visel is a splendid one to behold. (+10000) Visel is a splendid one to behold. (+10000) Visel is a splendid one to behold. (+10000) Visel is a splendid one to behold. (+10000) Visel is a splendid one to behold. (+10000) Visel is a splendid one to behold. (+10000) Visel is a splendid one to behold. (+10000) Visel is a splendid one to behold. (+10000) Visel is a splendid one to behold. (+10000) Visel is a splendid one to behold. (+10000) Visel is a splendid one to behold. (+10000)
    Visel is offline
    I've been telling myself lately if I had 2-3 million I'd retire. Reason being, assuming 12% growth, but 3% inflation... so 9% net growth, 2-3 million generates $180k-270k/yr before capital gains taxes. I currently live on less than $60k, like the story from the OP, so I'd hardly have to pull from the growth each year.
    r9 5900x stock | 1800mhz fclock
    Corsair H150i Pro RGB
    3090 Gigabyte Eagle (non-OC)
    4x16GB 3600mhz CL 16-19-19-39
    2TB WD SN850 nVME M.2
    Corsair AX 1000W Platinum
    Cooler Master H500m
    MSI x570 Tomahawk
    Reply With Quote

  24. #24
    Registered User bigcat3655's Avatar
    Join Date: Jun 2017
    Age: 38
    Posts: 5,720
    Rep Power: 51889
    bigcat3655 has much to be proud of. One of the best! (+20000) bigcat3655 has much to be proud of. One of the best! (+20000) bigcat3655 has much to be proud of. One of the best! (+20000) bigcat3655 has much to be proud of. One of the best! (+20000) bigcat3655 has much to be proud of. One of the best! (+20000) bigcat3655 has much to be proud of. One of the best! (+20000) bigcat3655 has much to be proud of. One of the best! (+20000) bigcat3655 has much to be proud of. One of the best! (+20000) bigcat3655 has much to be proud of. One of the best! (+20000) bigcat3655 has much to be proud of. One of the best! (+20000) bigcat3655 has much to be proud of. One of the best! (+20000)
    bigcat3655 is offline
    Originally Posted by goonsondeck View Post
    depends where you want to retire

    3rd world country very easily

    1st world country you buy a property in a decent but cheap area for 600k and the 1mil gets indexed which returns you on average 40-50k roughly

    so yes its doable but your quality of life is very simple

    someone please correct me I am wrong on the % return
    This. A buddy of mine moved to western mexico when he retired. He's living very well on his $3000/month pension
    Reply With Quote

  25. #25
    Killer boots, man! Coachbombay's Avatar
    Join Date: Apr 2011
    Location: Rack City, Bitch, Canada
    Age: 34
    Posts: 2,487
    Rep Power: 19182
    Coachbombay is a splendid one to behold. (+10000) Coachbombay is a splendid one to behold. (+10000) Coachbombay is a splendid one to behold. (+10000) Coachbombay is a splendid one to behold. (+10000) Coachbombay is a splendid one to behold. (+10000) Coachbombay is a splendid one to behold. (+10000) Coachbombay is a splendid one to behold. (+10000) Coachbombay is a splendid one to behold. (+10000) Coachbombay is a splendid one to behold. (+10000) Coachbombay is a splendid one to behold. (+10000) Coachbombay is a splendid one to behold. (+10000)
    Coachbombay is offline
    With those numbers, he could retire, live off that to a hundred AND double it. Then, he could will it to an infant great grandkid, and she can retire before her first birthday.
    They got little baby legs that stand so low
    you got to pick 'em up just to say hello.
    Reply With Quote

  26. #26
    Transracial Nonbinary elterrible987's Avatar
    Join Date: Jan 2010
    Posts: 21,331
    Rep Power: 79880
    elterrible987 has a brilliant future. Third best rank! (+40000) elterrible987 has a brilliant future. Third best rank! (+40000) elterrible987 has a brilliant future. Third best rank! (+40000) elterrible987 has a brilliant future. Third best rank! (+40000) elterrible987 has a brilliant future. Third best rank! (+40000) elterrible987 has a brilliant future. Third best rank! (+40000) elterrible987 has a brilliant future. Third best rank! (+40000) elterrible987 has a brilliant future. Third best rank! (+40000) elterrible987 has a brilliant future. Third best rank! (+40000) elterrible987 has a brilliant future. Third best rank! (+40000) elterrible987 has a brilliant future. Third best rank! (+40000)
    elterrible987 is offline
    if he has a pension that doesnt start until sometime in his 60s, have to factor that in. if he is in good health then factor that in.

    I think he should do it, only have one life and if he dont like his job and has 1.6 million then why not. if that only has to last until a pension then fuk it.

    that is what i am looking at, to retire earlier before a pension kicks in. they have conversion ladders and strategies for this chit, he should talk to a cpa to work out a plan
    Reply With Quote

  27. #27
    Registered User Evlve's Avatar
    Join Date: Dec 2014
    Age: 30
    Posts: 1,432
    Rep Power: 8728
    Evlve is a name known to all. (+5000) Evlve is a name known to all. (+5000) Evlve is a name known to all. (+5000) Evlve is a name known to all. (+5000) Evlve is a name known to all. (+5000) Evlve is a name known to all. (+5000) Evlve is a name known to all. (+5000) Evlve is a name known to all. (+5000) Evlve is a name known to all. (+5000) Evlve is a name known to all. (+5000) Evlve is a name known to all. (+5000)
    Evlve is online now
    If you’re debt free then absolutely as long as you aren’t trying to live in a high COL area

    Everyone assumes they are going to live to be 80+ too. He might have 8 years left
    Reply With Quote

  28. #28
    Registered User meanstringbean's Avatar
    Join Date: Mar 2019
    Age: 51
    Posts: 4,336
    Rep Power: 22347
    meanstringbean has much to be proud of. One of the best! (+20000) meanstringbean has much to be proud of. One of the best! (+20000) meanstringbean has much to be proud of. One of the best! (+20000) meanstringbean has much to be proud of. One of the best! (+20000) meanstringbean has much to be proud of. One of the best! (+20000) meanstringbean has much to be proud of. One of the best! (+20000) meanstringbean has much to be proud of. One of the best! (+20000) meanstringbean has much to be proud of. One of the best! (+20000) meanstringbean has much to be proud of. One of the best! (+20000) meanstringbean has much to be proud of. One of the best! (+20000) meanstringbean has much to be proud of. One of the best! (+20000)
    meanstringbean is offline
    Originally Posted by ~Hades~ View Post
    Lots of variables. 60k per year would last him 26 years. Obviously the first question is how old the guy is.


    Surely you understand that just throwing an arbitrary number out there isn’t enough info.

    Some people could make that last 50 years. Others wouldn’t make it 10.



    How retards think about retirement

    1.6 million would likely last 100 years at 60k a year
    Reply With Quote

  29. #29
    Registered User meanstringbean's Avatar
    Join Date: Mar 2019
    Age: 51
    Posts: 4,336
    Rep Power: 22347
    meanstringbean has much to be proud of. One of the best! (+20000) meanstringbean has much to be proud of. One of the best! (+20000) meanstringbean has much to be proud of. One of the best! (+20000) meanstringbean has much to be proud of. One of the best! (+20000) meanstringbean has much to be proud of. One of the best! (+20000) meanstringbean has much to be proud of. One of the best! (+20000) meanstringbean has much to be proud of. One of the best! (+20000) meanstringbean has much to be proud of. One of the best! (+20000) meanstringbean has much to be proud of. One of the best! (+20000) meanstringbean has much to be proud of. One of the best! (+20000) meanstringbean has much to be proud of. One of the best! (+20000)
    meanstringbean is offline
    60k a year is a pretty sweet life in 98% of the country. Assuming two things:


    -House is paid off completely , or can sell and downsize, and that’s not part of the 1.6 mil.

    - no need to save going forward



    Without mortgage / rent or the need to save money (because you’re already retired) that 60k feels a bit closer to 95k - 100k as a young adult. With that money you can basically still go abroad 2-3 times a year, go out decently regularly, do whatever in terms of hobbies. What can screw you is:


    - going out every meal
    - buying big ticket items like new cars or boats recklessly
    - moving to high COL area. NYC, SF, Seattle, etc eats that fast
    - still not shopping around on trips. For example I have spent multiple weeks in Europe, Central America, and Asia for $3,000 TOTAL. I have friends that are idiots and just take first thing available and spend $8k on ONE week at some resort in Mexico


    Don’t lose your edge
    Reply With Quote

  30. #30
    mic dropper pondus_levo's Avatar
    Join Date: Oct 2006
    Location: United States
    Posts: 16,959
    Rep Power: 101963
    pondus_levo has a reputation beyond repute. Second best rank possible! (+100000) pondus_levo has a reputation beyond repute. Second best rank possible! (+100000) pondus_levo has a reputation beyond repute. Second best rank possible! (+100000) pondus_levo has a reputation beyond repute. Second best rank possible! (+100000) pondus_levo has a reputation beyond repute. Second best rank possible! (+100000) pondus_levo has a reputation beyond repute. Second best rank possible! (+100000) pondus_levo has a reputation beyond repute. Second best rank possible! (+100000) pondus_levo has a reputation beyond repute. Second best rank possible! (+100000) pondus_levo has a reputation beyond repute. Second best rank possible! (+100000) pondus_levo has a reputation beyond repute. Second best rank possible! (+100000) pondus_levo has a reputation beyond repute. Second best rank possible! (+100000)
    pondus_levo is offline
    Originally Posted by homersexual View Post
    How hard would it be to survive off interest alone from $1.6 million? Even on the conservative side he'd have $50k/yr to spend. I've seen guys pack up and leave for eastern Europe and SEA with 1/4 of that amount and live very comfortably. Fukc working until 60+ and then dying from an illness before you even get to enjoy retirement.
    Someone correct me if I'm wrong, but I believe once you tap into your retirement it's converted to a cash distribution account and no longer makes interest, which is why the longer you keep it in there, the better.

    Al the calculators I have used say I need $2 mil at 67.

    I do not want to live on a ridiculous budget in my retirement.
    Forever alone? Attraction and keeping the girl chasing you - https://igoodies.000webhostapp.com/?viagra=showthread.php?t=131498033

    You will never know your limits, unless you push yourself past the imaginary lines you have drawn in the sand.

    Knee Dragger - '06 GSX-R750
    Reply With Quote

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
www.000webhost.com