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Forum » When are you planning to retire? (srs)
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Thread: When are you planning to retire? (srs)

post 1619322681 10-14-2020, 07:39 AM
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#91
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Originally Posted By jackamo2887⏩
31 years old at 2.8 million right now.

Will work part time starting at 45 or 5 million, whichever comes first.
I don't know why a lot of miscers act like we'll all rot if we retire. I'd definitely work part time doing something I like. The ideal would be banging office sloots with no cares because you're already retired.
post 1619322941 10-14-2020, 07:42 AM
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#92
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I want to retire from my regular 9-5 ASAP.
However, I would eventually like to start my own business and just work for myself. I probably wouldn't retire at that point since I'd be doing something I actually want to do.
Mexican Crew
post 1619323121 10-14-2020, 07:45 AM
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#93
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Goal is mid 50's. I would like to sell real estate or become a CFP/CFA and work part time tho.
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post 1619323191 10-14-2020, 07:45 AM
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#94
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Originally Posted By donblaximus⏩
LOL the irony of this guy calling me a DBAG. What you are describing is not go F yourself money, its simply living conservatively (which is applauded) but trust me, you arent going to tell anyone to go F themselves in real life with a few million bucks.
If he can live comfortably off a few million he could indeed tell others to go f themselves.

Not everybody wants a Mansion and multiple luxury cars. Some people are content fishing and taking road trips.
post 1619323501 10-14-2020, 07:51 AM
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#95
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Mandatory retirement age for my career is 56 but you can retire at 50 if you want. I'll probably stay on somewhere in the middle

6figure pension + 1.5million TSP + whatever I've saved is more than enough.

I can imagine I'd get bored and want to do a part time job/hobby while continuing my same lifestyle $$ wise

Alot of these people making comments about retiring at 45-55 aren't admitting they'd have to cut back on alot of their regular lifestyle in order to do so
post 1619323701 10-14-2020, 07:53 AM
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#96
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I’m gonna work for as long as I’m physical able to avoid rotting in retirement
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post 1619323711 10-14-2020, 07:53 AM
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#97
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Originally Posted By MikeLowrrrey⏩
If he can live comfortably off a few million he could indeed tell others to go f themselves.

Not everybody wants a Mansion and multiple luxury cars. Some people are content fishing and taking road trips.
Nobody is saying anyone needs a mansion and luxury cars.....in fact if you re-read my post, I am saying living conservatively is applauded. But I dont know ANYONE IRL with a few million telling anyone (non literally) to go F themselves to their face. It just doesnt happen. A few million isnt enough to burn bridges. Now you may disregard what others are saying, or not stress about certain things in business but that is far from telling someone off.

I have seen people IRL worth 40-50M telling people to go F themselves. I dont even condone that but it does happen.
post 1619323851 10-14-2020, 07:57 AM
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#98
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Originally Posted By ScramFranklin⏩
Actually it seems like most of these calculators take inflation into account. As in if it says you will have 2 mil in 30 years... they mean whatever 2 mil will be in 30 years.

idk. I'm getting confused. I always thought a rule of thumb was it takes about 20 years of maxing 401k/IRA to have whatever a mil is worth right now (so it would actually be more than a mil in the future).
So the average stock market return for the past 140 years is 9.2% according to Goldman Sachs data. If you calculate based on 7% growth that pretty much offsets inflation so the ending dollar amount you see is in today's dollars.
post 1619323891 10-14-2020, 07:57 AM
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#99
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some of you know my story. already there. age 51, $4M+ liquid, no wife, no divorces, no kids. live at the beach. life is pretty good. not perfect, but pretty good.
post 1619325011 10-14-2020, 08:13 AM
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#100
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Originally Posted By HYDRAE⏩
LMAFO - okay. good luck with that broseph.











































































LOL.
u unaware of donblaximus brah? He's CEO 10k/day driving lambos and ferraris (srs)
post 1619326451 10-14-2020, 08:35 AM
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#101
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Originally Posted By soaponarope1⏩
So the average stock market return for the past 140 years is 9.2% according to Goldman Sachs data. If you calculate based on 7% growth that pretty much offsets inflation so the ending dollar amount you see is in today's dollars.
There's a lot of factors that contribute to requiring a larger sum if you want to be on the safe side. E.g.:

Your personal inflation index might be higher than what is suggested by a certain inflation basket. Mine is e.g. about 3.5%.

You could catch bad market timing when investing.

You always need a certain amount of cash as a buffer, which will bring your total growth down.

You might need a large sum at some point. Many reasons for that. And if it's only to be able to say f**k you as pointed out in this thread.

I would personally at least double the 7% calculation.
How to lose fat for Noobs: http://forum.obnoxiousbrutes.com/showthread.php?t=129247741
post 1619326491 10-14-2020, 08:36 AM
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#102
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Originally Posted By Celsus⏩
So basically 99% of all miscers are gonna retire in their 40s and 50s

Nice, mates
LOL like always miscers ahead of the curve.
"One day I won't be able to lift any more. Not I won't want to lift. I mean physically unable. That day could be decades from now or it could be tomorrow. All I know is that's the day I'll wish I could lift more than ever. The day I'd give anything for one more workout, one more set, or one more cardio session. So go hard and enjoy every workout, every set, every rep. Because one day you will wake up and you will never get it back."
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post 1619326611 10-14-2020, 08:37 AM
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#103
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Probably never. Will be lucky if I ever even own property. Will be checking out on my own terms in my 60s I'd say, when my body completely starts to fall apart and life just becomes completely pointless.
post 1619327001 10-14-2020, 08:41 AM
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#104
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Originally Posted By wave_length⏩
There's a lot if factors that contribute to requiring a larger sum if you want to be on the safe side. E.g.:

Your personal inflation index might be higher than what is suggested by a certain inflation basket. Mine is e.g. about 3.5%.

You could catch bad market timing when investing.

You always need a certain amount of cash as a buffer, which will bring your total growth down.

I would personally at least double the 7% calculation.
It's a huge assumption as the economy is drastically different from 20 years ago but i think it's the best data backed assumption you'll make.

I don't plan on retirement, used to plan for 55 but have changed my mind as I've aged. I still save the same amount, but the plan now is having a paid off house and a few million in the bank at 55 and staying with my current employer. I really enjoy the job, get 4 weeks of vacation annually and can work remotely whenever I want so why would I retire from that? I think this is an ideal position for most people.

Edit to add - I think the key is turning your life into a life you enjoy now rather than some pipe dream of retirement in 25 years. Make time for your hobbies, exercise more than the average person, drink a few beers and live more in the current moment.
post 1619327371 10-14-2020, 08:46 AM
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#105
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Originally Posted By soaponarope1⏩
It's a huge assumption as the economy is drastically different from 20 years ago but i think it's the best data backed assumption you'll make.

I don't plan on retirement, used to plan for 55 but have changed my mind as I've aged. I still save the same amount, but the plan now is having a paid off house and a few million in the bank at 55 and staying with my current employer. I really enjoy the job, get 4 weeks of vacation annually and can work remotely whenever I want so why would I retire from that? I think this is an ideal position for most people.

Edit to add - I think the key is turning your life into a life you enjoy now rather than some pipe dream of retirement in 25 years. Make time for your hobbies, exercise more than the average person, drink a few beers and live more in the current moment.
This is as realistic as it gets for someone thinking fairly conservatively, in real world terms from a person that seems to be doing well above average. Nice goal.
post 1619330011 10-14-2020, 09:19 AM
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#106
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Originally Posted By Jayl12345⏩
2022 @ 41-2 with a 22-23 YR Military retirement with 30-40% disability. Should be clearing 60K in theory.
You an officer?
post 1619331091 10-14-2020, 09:33 AM
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#107
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Originally Posted By soaponarope1⏩
It's a huge assumption as the economy is drastically different from 20 years ago but i think it's the best data backed assumption you'll make.

I don't plan on retirement, used to plan for 55 but have changed my mind as I've aged. I still save the same amount, but the plan now is having a paid off house and a few million in the bank at 55 and staying with my current employer. I really enjoy the job, get 4 weeks of vacation annually and can work remotely whenever I want so why would I retire from that? I think this is an ideal position for most people.

Edit to add - I think the key is turning your life into a life you enjoy now rather than some pipe dream of retirement in 25 years. Make time for your hobbies, exercise more than the average person, drink a few beers and live more in the current moment.
I don’t even think the economy will be that different in the long run. I agree with the 7% but that only works if everything goes perfectly smooth. Which it never does, see points I made in my above post.

And I agree that you should still live in the now and have fun. Probably the only thing I regret a little, looking back.
How to lose fat for Noobs: http://forum.obnoxiousbrutes.com/showthread.php?t=129247741
post 1619331451 10-14-2020, 09:36 AM
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#108
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Between 55-57. Counting on a combination of a pension, SS, and 2 deferred comp plans going. This year I starting to make extra principle payments on the mortgage so that the house is paid for by the time I hit 55 and then decide if I want to bail or stick it out. The reason for sticking it out for another two years is our pension goes up slightly but I don't know if the extra $$ would be worth it. Just about everyone that I used to work with wished they had retired earlier. I don't plan to touch the deferred comps well at least the 401k - hope to pass that off to my kid. I think there are minimum distributions you have to start taking around 70 but that is a bridge I can cross later.
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post 1619331481 10-14-2020, 09:37 AM
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#109
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Originally Posted By JMath⏩
REALLY hoping to retire at 57.

-Pension from 30 years in federal government
-VA service connected disability
-TSP/401K
-Social security (if it isn't bankrupt)

Should be able to live off that. I already live way below my means. Would definitely have at least 1, maybe 2 houses paid off by then.
Tfw your pension is gonna be gone in your life time lmaoooo relying one that wow you are the exact person Robert kiyosaki laughs at for being so uneducated. Gl with your poverty goals
post 1619331581 10-14-2020, 09:37 AM
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#110
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Did some math. If I didn't change my contributions or anything like that I'd keep going to 61 and I'd have 2.1 million @ 6% compounding.

Luckily I am almost done paying student loans so that will free up a huge chunk of my yearly income. My vehicle is nearly paid for as well which again frees up another big part of my income.

My plan is to keep going at my current job minimum of 10 years. I plan on increasing retirement savings by 1-2% each year for just 401k/retirement specific accounts. I already max my HSA account out yearly so that pot is still very full which is nice. I'll just have to see how my regular investment accounts/real estate end up doing since that will probably have a bigger impact on my retirement date than anything else.
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post 1619332321 10-14-2020, 09:46 AM
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#111
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I don’t want to every fully “retire” not doing anything sounds so... boring
post 1619332431 10-14-2020, 09:47 AM
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#112
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When i’m dead.
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post 1619332821 10-14-2020, 09:51 AM
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#113
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Originally Posted By Jayl12345⏩
2022 @ 41-2 with a 22-23 YR Military retirement with 30-40% disability. Should be clearing 60K in theory.
I just retired from week. VA still in the air.

Started second career. Should be done completely by 60.
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post 1619333201 10-14-2020, 09:55 AM
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#114
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Originally Posted By wave_length⏩
I don’t even think the economy will be that different in the long run. I agree with the 7% but that only works if everything goes perfectly smooth. Which it never does, see points I made in my above post.

And I agree that you should still live in the now and have fun. Probably the only thing I regret a little, looking back.
I wouldn't say everything has gone perfectly smooth over the past 140 years but OK. The economy is, however, very different than it was a couple decades ago. Quantitative easing was only started in 2008, the top 5 stocks are all now IT companies that are relatively new, and the USD has only been completely decoupled from gold since the 70s. These are just a few obvious changes.

I still think a 7% return is a huge but reasonable assumption. If you're more conservative go with 5%.
post 1619333481 10-14-2020, 09:58 AM
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#115
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Originally Posted By BigPoppaPump84⏩
u unaware of donblaximus brah? He's CEO 10k/day driving lambos and ferraris (srs)
Everyone on the misc is a CEO 10k/day.
“The Misc. is a stone-faced Uncle Sam with Popeye’s forearms and a cocked pistol in each hand. It’s a screeching bald eagle with a foreign Bad Thing in its talons. It’s everything that defines America’s bro culture, magnified and weaponized. But it’s deeper than that.“
post 1619333841 10-14-2020, 10:01 AM
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#116
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Originally Posted By soaponarope1⏩
I wouldn't say everything has gone perfectly smooth over the past 140 years but OK. The economy is, however, very different than it was a couple decades ago. Quantitative easing was only started in 2008, the top 5 stocks are all now IT companies that are relatively new, and the USD has only been completely decoupled from gold since the 70s. These are just a few obvious changes.

I still think a 7% return is a huge but reasonable assumption. If you're more conservative go with 5%.
With smooth I didn't mean the economy, I meant the notion that you put in your money at one point and then receive a steady 7% each year. That's not how it works, you need a buffer, a good entry point, etc. as mentioned in my previous post. On top of that, the economy in general might slow down ofc.
How to lose fat for Noobs: http://forum.obnoxiousbrutes.com/showthread.php?t=129247741
post 1619335371 10-14-2020, 10:16 AM
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#117
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Originally Posted By donblaximus⏩
Nobody is saying anyone needs a mansion and luxury cars.....in fact if you re-read my post, I am saying living conservatively is applauded. But I dont know ANYONE IRL with a few million telling anyone (non literally) to go F themselves to their face. It just doesnt happen. A few million isnt enough to burn bridges. Now you may disregard what others are saying, or not stress about certain things in business but that is far from telling someone off.

I have seen people IRL worth 40-50M telling people to go F themselves. I dont even condone that but it does happen.
A few million is enough to you don't have to work a crappy job or deal with office politics if that's all you need. Your living expenses only $800 bucks, and all you like to do is buy fishing equipment, no one can tell you anything. And that's the position most average joes strive for, if not rich. On to the next job

Ultimate goal should be passive income from side business + part time work.
post 1619336371 10-14-2020, 10:26 AM
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#118
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Originally Posted By wave_length⏩
With smooth I didn't mean the economy, I meant the notion that you put in your money at one point and then receive a steady 7% each year. That's not how it works, you need a buffer, a good entry point, etc. as mentioned in my previous post. On top of that, the economy in general might slow down ofc.
With a 15-30 year investment timeframe and steady consistent contributions, it will most likely offset timing, inflationary and your other concerns. We don't have control over the latter factors anyways

Agree with needing a good buffer. However, we could always pick up side gigs and work PT if things go south etc.
post 1619339511 10-14-2020, 11:03 AM
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#119
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Originally Posted By iradumass⏩
With a 15-30 year investment timeframe and steady consistent contributions, it will most likely offset timing, inflationary and your other concerns. We don't have control over the latter factors anyways

Agree with needing a good buffer. However, we could always pick up side gigs and work PT if things go south etc.
There have been 20 year periods without any profit in the stock market. And even without that, an unfavorable course of the economy over the 15-30 years may leave you broke even when the 7% rule holds true on average. I'm not saying it's a bad plan, I'm doing it. But I also have enough cash and other investments. I won't have a problem, even if I catch a very bad chart or entry point.
How to lose fat for Noobs: http://forum.obnoxiousbrutes.com/showthread.php?t=129247741
post 1619349441 10-14-2020, 12:48 PM
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#120
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Originally Posted By wave_length⏩
There have been 20 year periods without any profit in the stock market. And even without that, an unfavorable course of the economy over the 15-30 years may leave you broke even when the 7% rule holds true on average. I'm not saying it's a bad plan, I'm doing it. But I also have enough cash and other investments. I won't have a problem, even if I catch a very bad chart or entry point.
yeah or it could continue to boom like the last 10 years

either way there is nothing we can do bro
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