/biz/ - Business & Finance

>>50783075
depends where you live anon... In north america, that ain't shit.

Find out how much you spend in a year and then multiply it by the years you expect to live from you retire. Then add 10%-20% extra for safety and unforseen expenses.
Put it in some safe index fund so you don't lose it all to inflation.

>>50783086
>I have never had more than $2000 for longer than one month

>>50783075
You could retire with $500k if you are willing to risk half of it on a down-payment for a commercial rental property.

it depends on how much you want to consooooooooooooooooooooooooooooooooooooooooooooooooooooooooooom
if you aren't a degenerate then it's more than enough for an entire lifetime and even for wife and 4 kids (if the wife isn't degen)

>>50783075
No, you need at least 10 if you want to live in 1st world

>>50783141
>projection

>>50783075
! million was enough 20 years ago - just take into consideration the inflation since and the inflation we're likely to see by the time you turn 35 and that's your target
good luck, lol

>>50783075
Kek my dad has 20 million at 65 and is still working.

>>50783075
It can be if it is somehow working to generate passive income. DIVI is where I am putting my $150k. It should generate passive staking rewards in excess of $20k per year once it reaches like 40 cents per coin. If it goes to $4 it would be much more, but I don't know how high it can go.

>>50783157
1 million is not enough to live on in a first world country like the nordics. Doubt a second tier country like USA or Canada would be liveable on the interest on 500K. Maybe low tier countries like India, Brazil. But doubtful.

2-3 million USD is the bare minimum to have a middle class life in top tier countries.

>>50783148
billions of people raise families on less than $10k per year, you dont need a $250k house

>>50783576
And he's leaving you none of it. He will leave it all to his 20 year old mail order bride because she "makes him feel loved and appreciated".

>>50783075
I just need 100000k

>>50783616
>1 million is not enough to live on in a first world country
It is if you already have a house to live in.

no not really

at 35 you need a super low withdraw rate to protect your principal like 2% low. 2% of 1m is 20k yearly, not exactly retirement level. 3m bare minimum really 5m and if you got wife and kiddos forgetaboutit

>>50783196
$10 million is the new $1 million.

>>50784685

Yes but it's on the poor side. That'd be $2,300 usd per mont paid in dividends by the safest boomer stock coca cola

>most threads on /biz/
"if you don't get a 200% return on your investments year over year you are a retard"
>retirement threads on /biz/
"a 1% annualized return is unrealistic, I need at least 10 million dollars to support my consumerist lifestyle before I stop wage slaving"

Why is this?

>>50784999

most threads on /biz/ are retarded zoomers with 4 months in the market and pajeets

retirement threads are cleverly disguised blackpill threads

>>50783075
If by “retire” you mean you still work, but for yourself. Yes.

If you mean you do nuffin. Nope.

>>50785205
this, $1mil gives you the freedom to neet for yourself (dev or chase shitcoins etc.) but you cant just retire to hawaii for 30 years on 1mil

You need to be a failure. No "man" is retiring before their body is incapable.
It's called being lazy and a burden and everyone hates you.

4% (a decent yield with relatively low risk) of 1m is only 4k before taxes
If you wanna do nothing for the rest of your life try to calculate how much you plan on spending every year, add 2-5% every year and then calculate how much money you would need for it to be 4% of your total net worth. If you were to be expecting to live off 20k a year you’d need about 6-7m if you’re also calculating taxes
This doesn’t including real estate expenses and you’d be living a below average life getting paid to do absolutely nothing other than providing liquidity

>>50785463
your math is wrong 4% is 40k

>>50785463
The absolute state

>>50783075
Depends on many factors, primarily on your lifestyle though. If you buy a house and live like a normie, you'll probably run out of money in your 80's . If you live like a hobo, it will easily last for the rest of your life. Personally, I don't see why hobo life is so stigmatized. Seems like fun, to be honest. Just stay away from cities because the "youths" will beat you to death if they find you.

2-4 million depending on how frugal you want to live and how you invest/draw on the principal

>>50783620
>billions of people raise families on less than $10k per year
They also shit in an outhouse, sleep on the floor, wear the same clothes all week, and eat rice/water for every meal

Single men can do it, good luck finding a woman who wants to live like a fucking hobo

>>50783464
you haven't though
>>50783075
Not quite, but it would be enough for a few decades and you could buy a cheap home in full if you go to a cheap state

>>50785474
Yeah I was calculating for 100k then got carried away kek
Even so, 40k before taxes is still not good enough to live a decent life, ends up at around 25k after taxes unless you run an LLC you can get it to about 33k but OP doesn’t wanna work

>>50785567
sure not gonna make it off $40k yearly, but you can do what you want with all your time (passion projects etc.)

>>50784999
was about to post the same thing
assuming you can average 7% on your investment, which is incredibly mediocre, a million is $70k a year which is not an amazing amount but it is very liveable and about double a median income
it acts as its own safety net too

>>50783075
2.5m if you’re doing the 4% thing and not living too lavishly.

>>50783075
Not even close. More like $5 mil.

>>50785722

the logic fail with this is you are withdrawing all your gains and one bad year turns your 70k into 50k. also their is no garuntee the usa continues its bullrun; for example a japan scenario could happen with 0% gains over 20 years and you obliterate your principal

>>50785970
japan scenario is unlikely for #1 in gdp

(also wouldnt be an overnight thing, so you could just move to etf of new global power)

>>50785970
You can invest in foreign markets and 7% is the targeted average not a guaranteed amount every year: one year you get 50k, another you get 90k, it's not and can't be expected to be perfectly stable
>you are withdrawing all your gains
You're not forced to and you should be able to put cash aside with just $70k income anyway - that's more than the average person ever earns.

Moreover, if you want to retire at half the age you're "supposed" to retire at it will not be risk free and it will not be in a mansion in Hawaii.