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/biz/ - Business & Finance

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57900740 No.57900740 [Reply] [Original]

$10m is not enough to retire on anymore

>> No.57900750

>>57900740
Yes. It's now minimum of 50m

>> No.57901277

>>57900740
I'm immigrating to South America to retire

>> No.57901285

>>57900740

You need 50 million at this point due to hyper inflation and the stupid expensive housing market.

>> No.57901303

>stick 5 million in a high yield savings account that pays out 8% annually
Are you saying $400,000 a year isn’t good enough to retire on?

>> No.57901365

>>57901303
$400k is like 100k due to hyperinflation. You need 50m to retire

>> No.57901384

>>57900740
it is, but you have to move to another country.

>> No.57901932

>>57900740
You can retire as upper middle class with maybe little as $3M in eastern europe.

>> No.57902018

>>57900740
3m is my goal. I'll make it work.

>> No.57902059

>>57901277
Wise choice. 2M is the minimum to retire down here.

>> No.57902083

>>57900740
I think it is right now. In 15 years it won't be.

>> No.57902094

>>57900740
Every million you have equals $50,000 of spending a year for 20 years. What are you on about? Are your retirement plans so audacious that $50k a year won't cover it?

>> No.57902096

>>57902083
wouldn't buying silver, gold or prehaps a stock like s&p 500 adjust it to inflation?
I do not see the problem.

>> No.57902100

>>57902094
We want to retired for 60 or more years, not 20.

>> No.57902137

>>57902100
$1 is 3-4x more valuable in eastern europe
Retiring with $1M here would be equalent to 50K annual for 60 to 80 years in the west.

>> No.57902158

>>57900740
It's fine, I'm getting 100x this cycle. I'm sorry you chose some old bags from 2021 and became an exit liquidity. Should've picked something fresh instead.

>> No.57902165

>>57902137
>$1 is 3-4x more valuable in eastern europe
this was true 10 years ago maybe. right now groceries and electronics are on par or more expensive than in the west. the only thing cheaper is real estate

>> No.57902166

>>57902137
I do have a friend from Bulgaria that tried to convince me to come live there. Maybe I'll actually do it.

>> No.57902168

>>57902096
>hello sir i would like to purchase one haircut please
>do you have change for this 10 oz gold bar?

>> No.57902182

>>57902165
>groceries and electronics
I wouldn't buy goyslop neither consumerist shit that is designed to last only 5 years.
Small markets and mom and pop shops here are pretty cheap, even farmers market.

>> No.57902212

>>57902168
you can buy commodity stocks.
Plus you can put $5m in boomer stocks if afraid of risk and would most likely even generate a profit.
Once you make it you made it unless you fuck it up do to greed or stupidity.

>> No.57902220

>>57902212
meant to add boomer stocks like s&p 500

>> No.57902223

>>57901277
based, everything is cheap as shit there, what country will you go to?
i personally started a new job that is purely online so i was thinking of taking a plane to uruguay or brazil and live there more comfortably
i mean, yeah, i also have some bucks out of crypto, specially out of small coins like spx, but i always welcome more money, plus i'm learning portuguese and i already know a lot of spanish anyway

>> No.57902226

>>57902182
farmers market sell the same shit thats in the stores most of the time and arent cheaper than supermarkets

>> No.57902241

>>57902226
Thats only a minority of seller or it is where I live.
Most of the stuff are local and, some things might be a bit more expensive but the quality is much better. Supermarkets and hypermarkets tend to overprice products, otherwise it seems fine to me.

>> No.57902257

>>57900740
huh? how? just eat rice and beans and you can live off next to nothing

>> No.57902260

>>57902241
>some things might be a bit more expensive but the quality is much better
okay so then you agree groceries are the same or more expensive than in the west. then what is cheaper in eastern europe than in western that isnt real estate?

>> No.57902284

>>57902223
Columbia, it has pretty great weather, it's like 16-22 degrees all year round

>> No.57902361
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57902361

>>57900740

You are fucking deluded and completely out of touch with reality. $1,000,000 is more than enough for a lot of normal people to retire on, especially if they live frugally. You are disconnected from reality and don't understand other people's struggles, a sociopath.

>> No.57902368

>>57900740
Yes $200MM is the bare minimum. And that’s if you wanna live a very humble lifestyle

>> No.57902386

>>57900740
It depends. If retirement is living with roommates, eating rice and beans, and shitposting all day, you could retire with $10 million. But if you plan to have a family, yes, of course you'll need more.

Your wife won't live with roommates and your kid needs to be safe, happy, and well educated, right? So you'll need a large house in a good neighborhood with the best schools, fitted with good security systems. You'll need cleaners, cooks, gardeners, etc. You'll need a fully-stocked bomb shelter. You'll need emergency funds and precious metals in several locations. You'll need at least two SUVs. And do you think your wife will be happy without a steady supply of clothes, jewelry, hair styling, manicures, massages, meals at nice restaurants, and luxury vacations? Of course not. You'd need at least $1 billion to retire if you're going to have an ordinary life.

>> No.57902411

>>57902260
no, I was refering to eastern european super and hypermarkets

>> No.57902515

>>57902386
The price of the American dream is steep eh? Give me Thailand's hottest woman who's happy with cheap chinese knockoffs and a luxury apartment in Bangkok and I could live the rest of my life on 1mil

>> No.57902659
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57902659

>>57901303
Most retards here won't settle on anything less than 10M a year, which is why they will stay poor..

>> No.57903598

you need at least $50 Million to live frugally for 2, maybe 3 years if you're really lucky.

>> No.57903614

>>57900750
nah probably like 30 million that still gets you a million dollars a year using the 3% rule

>> No.57903628

I'm 40 and I can easily live the rest of my life on one million. Just don't be a retard with money.