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/biz/ - Business & Finance

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23161060 No.23161060 [Reply] [Original]

$2million dollars still isn’t enough to retire
Fuck boomers

>> No.23161223

>>23161060
>buy 600k home
>dump 1.4 million into spy
>take out 4% every year
>4% plus 1% from dividends is 70,000
If you can't retire comfortably off of 2 million then you're ngmi.

>> No.23161320

>>23161223
you have to reinvest to beat inflation...

>> No.23161648

>>23161223
the 4% rule is for 30 year retirements, and people are living longer now
say OP wants to retire at 40 and he ends up living to 90, you need to take out only 2% or so to not risk running out of money

>> No.23161752

>>23161320
You live in a country that will provide age-based pension right? After 64 or whatever you get a boost of cash to die confortably

>> No.23161874

>>23161060
Yea but .5 of a bitcoin will be enough to retire in 15 years so just buy it now and you will be this generations boomer

>> No.23161883

>>23161752
That assumes you have work history, fren. If you NEET it out for 30 years, without any work history, you're entitled to pretty much zip in social security

>> No.23161980

You can retire on $2million if you're ok with living frugally and accept you will never get good medical care (states only).
If you buy $250k house somewhere where prop taxes are low you can stretch half a million for ten years ($50k/year salary to yourself) for awhile while investing the remaining $750k.
How aggressive you're willing to be depends on how determined you are to stay retired indefinitely.

>> No.23162001

>>23161223
>600k home
houses are $1.5million where I am

>> No.23162196

>>23161223
>>23162001
You both need to fucking move then.
Early retirement does involve some compromises.

>> No.23162288

>>23161060

At 8% APY that’s 160,000/year. Enough to live freely

>> No.23162439
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23162439

>>23162288
>88
>8%
>16/2 = 8
>62288

>> No.23162636

>>23162439
Blessed

>> No.23162766

>>23161320
Average s&p 500 return is 6% AFTER inflation.

>> No.23162913
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23162913

>>23162196
>just move to where cheap houses are and there’s zero jobs

>> No.23163613

>>23161060
>blame boomers
>not the rigged system
NGMI

>> No.23163629

>>23161883

As it should be.

>> No.23163641

>>23162913
>retiring
>jobs
hm ok