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Forum » You can retire for life on less than $1M net worth and $20k/yr passive income
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Thread: You can retire for life on less than $1M net worth and $20k/yr passive income

post 1685439933 06-27-2023, 08:36 PM
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#181
  1. superman704
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You can retire with much less than that
John 3:16

Natty for life
Red for life
I'm not really 50, I'm 47, idk how to change the age
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High test crew
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Guys stop making me green! I actually enjoy being red! It's more alpha!
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Sometimes the stuff I say is just ''trolling''
post 1685440373 06-27-2023, 08:48 PM
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#182
  1. BigDeeps01
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Originally Posted By superman704⏩
You can retire with much less than that
I mean you can live for free if you sleep outdoors and hunt your own food
post 1685440773 06-27-2023, 08:58 PM
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#183
  1. Bodhy
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OP, how much does 20k a year leave you to spend in a week? It couldn't be more than $500.


I have more than that once I pay my rent and essentials and I'm only on a PhD stipend. I don't find that enough to enjoy life. It keeps me fed and housed.


I could already implement your plan by just doing PhD or Masters theses the rest of my life and living off of stipends. But why? I want more money than that. The key is to find career you really want to do, and not just Office Space it your entire life.



Heck man, I can make 52-54k a year just by doing side work alongside that stipend. My plan is better than yours because it nets more money.
Back off, Warchild.

Seriously.
post 1685443353 06-27-2023, 09:57 PM
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#184
  1. eddiehaskell
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Originally Posted By xeron⏩
living like a rat in the backwoods growing delusional in your own thoughts as days and weeks go by, das not it mane

If you wanna know what's it... it's doing what OPie says but jumping around to low cost poverty tier countries... Philippines, Cambodia, Ukraine, Moldova, Colombia, Venezuela, Africa, etc

If you're a degen that can't save the money for passive income from investments, seasonal jobs is where it's at mane, and in some ways it's a better way to do it. Not having anything to do (retired) actually will drive one mad.

Apply this same philosophy to a miriad of other countries if you're not into Asia

What backwoods? My home is 15 minutes from the center of a city of 1M people in the 4th fastest metro in the country. NBA arena check. NFL stadium check. 3 hours to the beach check. 2 hours from beautiful mountains check.

Try again mane.
post 1685443423 06-27-2023, 09:58 PM
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#185
  1. eddiehaskell
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Originally Posted By r32gojirra⏩
So given the current double digit rate of inflation, your money would be losing value even assuming you didn’t use the 5% return as income to live on

Seems legit
When I was living on $20k I was reinvesting at least $8k/year. As my income grew, I spent a little more and reinvested more. No worries with inflation.
post 1685443483 06-27-2023, 09:59 PM
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#186
  1. eddiehaskell
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Originally Posted By superman704⏩
You can retire with much less than that
Yes you can back in the 2010 range I was advocating that it could be done on something like $500-600k net worth and $15k/year income.
post 1685443493 06-27-2023, 10:00 PM
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#187
  1. BigDeeps01
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Originally Posted By eddiehaskell⏩
What backwoods? My home is 15 minutes from the center of a city of 1M people in the 4th fastest metro in the country. NBA arena check. NFL stadium check. 3 hours to the beach check. 2 hours from beautiful mountains check.

Try again mane.
Sounds like either Louisiana or Georgia
post 1685443853 06-27-2023, 10:08 PM
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#188
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Originally Posted By Bodhy⏩
OP, how much does 20k a year leave you to spend in a week? It couldn't be more than $500.


I have more than that once I pay my rent and essentials and I'm only on a PhD stipend. I don't find that enough to enjoy life. It keeps me fed and housed.


I could already implement your plan by just doing PhD or Masters theses the rest of my life and living off of stipends. But why? I want more money than that. The key is to find career you really want to do, and not just Office Space it your entire life.



Heck man, I can make 52-54k a year just by doing side work alongside that stipend. My plan is better than yours because it nets more money.
Lets look at some expenses during the time I was living on $20k...

mortgage/rent $0 (paid cash)
utilities ~$150/month
car payment $0
gasoline ~$70/month (Prius)
health insurance $0
cell phone $12/month (mint sim 10gb/month)
internet $20/month
YMCA ~$30/month
car insurance $30/month
home insurance $60/month

That's $372/month.

Now throw in food, the occasional home repair, some clothing, etc.

100% of my time owned free and clear. PRICELESS.
post 1685443953 06-27-2023, 10:10 PM
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#189
  1. bicmane102
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Originally Posted By eddiehaskell⏩
NBA arena check. NFL stadium check. 3 hours to the beach check. 2 hours from beautiful mountains check.

Try again mane.
you can't afford NBA or NFL games on 20k/year.

time to go back to work
post 1685443983 06-27-2023, 10:11 PM
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#190
  1. eddiehaskell
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Originally Posted By BigDeeps01⏩
Sounds like either Louisiana or Georgia
Beautiful North Carolina my guy. Perfect location for moutains, beaches, low cost living and true 4 season weather. Now only if these other people from around the country would stop piling in and causing so much traffic.
post 1685444063 06-27-2023, 10:12 PM
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#191
  1. eddiehaskell
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Originally Posted By bicmane102⏩
you can't afford NBA or NFL games on 20k/year.

time to go back to work
Sure I can but I have no desire to be around crowds when I can watch from the comfort of my home with food and drink on tap and a clean bathroom.
post 1685451243 06-28-2023, 03:48 AM
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#192
  1. Godfrd824
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Originally Posted By eddiehaskell⏩
Lets look at some expenses during the time I was living on $20k...

mortgage/rent $0 (paid cash)
utilities ~$150/month
car payment $0
gasoline ~$70/month (Prius)
health insurance $0
cell phone $12/month (mint sim 10gb/month)
internet $20/month
YMCA ~$30/month
car insurance $30/month
home insurance $60/month

That's $372/month.

Now throw in food, the occasional home repair, some clothing, etc.

100% of my time owned free and clear. PRICELESS.
BRB break a finger and there goes your budget for the year. BRB utilities $150/month, so no AC in the summer, and no heat in the winter. BRB driving a clapped out Prius.

Honestly this sounds worse than I originally thought.
When it comes your time to die, be not like those whose hearts are filled with the fear of death, so that when their time comes they weep and pray for a little more time to live their lives over again in a different way. Sing your death song and die like a hero going home.
post 1685467103 06-28-2023, 10:06 AM
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#193
  1. eddiehaskell
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Originally Posted By Godfrd824⏩
BRB break a finger and there goes your budget for the year. BRB utilities $150/month, so no AC in the summer, and no heat in the winter. BRB driving a clapped out Prius.

Honestly this sounds worse than I originally thought.
I bought the Prius brand new -- paid cash. Great cars -- especially for someone in their early 20s looking to get ahead in life.

And see -- this attitude is the problem with SOFT people! SOFTTTTTT

With my best valley girl accent....

"ewww I couldn't ever do something like drive an econo car!!!!"

"ohh my gawd...how could you survive living in a house less than 3000 sq ft"

"I have to have my $10k/3x year vacations or I'll just die!!!".
post 1685468773 06-28-2023, 10:33 AM
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#194
  1. Godfrd824
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Originally Posted By eddiehaskell⏩
I bought the Prius brand new -- paid cash. Great cars -- especially for someone in their early 20s looking to get ahead in life.

And see -- this attitude is the problem with SOFT people! SOFTTTTTT

With my best valley girl accent....

"ewww I couldn't ever do something like drive an econo car!!!!"

"ohh my gawd...how could you survive living in a house less than 3000 sq ft"

"I have to have my $10k/3x year vacations or I'll just die!!!".
It's not about a car being cheap. It's about having warranty, having tow support, etc. What happens when your clapped out 2009 Prius breakdown in the middle of the highway? There goes your whole budget because you don't have roadside assistance with towing as part of your insurance.

If my car breaks down, I call the dealer, they will tow my car to the dealer and give me a loaner while they fix my car.

My house is small, especially for where I live, but it's still 2800sq ft, and that's the minimum that you can get by with if you have kids. BRB bedroom for you, two kids bedrooms, and a guest room, that's the whole house.
When it comes your time to die, be not like those whose hearts are filled with the fear of death, so that when their time comes they weep and pray for a little more time to live their lives over again in a different way. Sing your death song and die like a hero going home.
post 1685469323 06-28-2023, 10:42 AM
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#195
  1. eddiehaskell
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Originally Posted By Anachron⏩
And you didn't even mention the middle of nowhere flyover state location.
Wasnt aware that NC and the 4th fastest growing metro in the country was considered flyover territory.

According to some 1% of US land mass is a desirable location and the rest is flyover LOL

Like I said...soft people nowadays
post 1685469583 06-28-2023, 10:46 AM
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#196
  1. Godfrd824
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Originally Posted By eddiehaskell⏩
Wasnt aware that NC and the 4th fastest growing metro in the country was considered flyover territory.

According to some 1% of US land mass is a desirable location and the rest is flyover LOL

Like I said...soft people nowadays
When I was going to school in the Dominican Republic I lived off about $17k a year. But that was in a third world country, and I lived in one of my parent's properties, so I didn't even need to pay rent. Doing it in the US while being comfortable would be almost impossible.
When it comes your time to die, be not like those whose hearts are filled with the fear of death, so that when their time comes they weep and pray for a little more time to live their lives over again in a different way. Sing your death song and die like a hero going home.
post 1685469713 06-28-2023, 10:48 AM
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#197
  1. eddiehaskell
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Originally Posted By Godfrd824⏩
When I was going to school in the Dominican Republic I lived off about $17k a year. But that was in a third world country, and I loved in one of my parent's priorities, so I didn't even need to pay rent. Doing it in the US while being comfortable would be almost impossible.
Hello. I'm here to tell you living on $20k in the United States while never reporting to Mr Noseberg is the lifestyle of the Gods.

Woke up before noon today my mane...now to go swimming.
post 1685469773 06-28-2023, 10:49 AM
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#198
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Originally Posted By Anachron⏩
It is also interesting how you don't seem to be paying property tax.
Property tax on my first house 1 mile outside the city limits was $850/year or $71/month
post 1685469853 06-28-2023, 10:51 AM
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#199
  1. eddiehaskell
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Originally Posted By Anachron⏩
Your $372/month just became $443/month.
Oh my!!!!
post 1685470213 06-28-2023, 10:57 AM
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#200
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Originally Posted By Anachron⏩
You misrepresented your numbers by ~20%, in your favour.

No one has to wonder what else you are misrepresenting.
You've taken L's to the point of arguing "misrepresented your numbers by 20%" when my entire point was that I was living in less than $1,000/month.

I keep winning. Will think of you worker bees while I'm working on my breast stroke.
post 1685470663 06-28-2023, 11:03 AM
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#201
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Originally Posted By Anachron⏩
The single item I pointed out, that no sane person would "forget" about, added that 20%. You also don't seem to eat any meals...

But, if thinking about what you assume about random people online helps you cope with your pitiful existence - you do you, cupcake.
You're embarrassing yourself at this point

what's this...your 50th reply to this thread?
post 1685470993 06-28-2023, 11:08 AM
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#202
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Originally Posted By Anachron⏩
I mean, I am not the one who claimed to "go swimming" and "will be thinking of you" just a post ago.

Yet here you are, still posting away...



Somebody has to send positive vibes to our brethren working on TPS reports. Sorry if that upsets you my guy.
post 1685471173 06-28-2023, 11:11 AM
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#203
  1. guest89
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The main problem with this life choice is it puts you in a box.


You have a ton of free time. But you can't do much with that free time. You can go on walks. You can watch tv. You can play video games. And you can go eat out at cheap/budget minded places. But you really can't do much that isn't free or cheap. Furthermore, it kind of puts you in a place where you can only be friends with losers or really old people.

Most importantly it really eliminates all quality women from your dating pool. If you date at all its going to have to be low class/low tier women.



You can probably get away with it in your 20s. But in your 30s & 40s? Might as well fire up a meth pipe boyo. Its all you got to look forward too once you start aging.
post 1685471413 06-28-2023, 11:15 AM
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#204
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Originally Posted By guest89⏩
The main problem with this life choice is it puts you in a box.


You have a ton of free time. But you can't do much with that free time. You can go on walks. You can watch tv. You can play video games. And you can go eat out at cheap/budget minded places. But you really can't do much that isn't free or cheap. Furthermore, it kind of puts you in a place where you can only be friends with losers or really old people.

Most importantly it really eliminates all quality women from your dating pool. If you date at all its going to have to be low class/low tier women.



You can probably get away with it in your 20s. But in your 30s & 40s? Might as well fire up a meth pipe boyo. It's all you got to look forward to once you start aging.
Puts you in a box? To what...pursue whatever interest you that people working jobbies don't have time to pursue?

Let's face it -- you're coping with going to work everyday and having your entire life revolve around Mr Noseberg's demands. But somehow it will pay off with "better" friends and women....right....
post 1685471633 06-28-2023, 11:19 AM
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#205
  1. shmobin
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Originally Posted By MiscMathematician⏩
what are you doing for health insurance
He qualifies to get it for free off the exchange because of his poverty income.
post 1685472093 06-28-2023, 11:23 AM
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#206
  1. eddiehaskell
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Originally Posted By shmobin⏩
He qualifies to get it for free off the exchange because of his poverty income.
love dat dare obamacare
post 1685472363 06-28-2023, 11:27 AM
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#207
  1. semenreleaser
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Originally Posted By suave2000⏩
All jokes aside, that house with the shade of that tree, being lifted above ground and with cross ventilation due to windows on all sides is way more energy efficient than the vast majority of mcmansions out there. Whats so wrong with that house btw? For a single person or even for a small family it has plenty of space.

Add some landscaping on the edges, some cool paint outside, redo the finishes inside get some proper furnishing and it has the potential of looking way better than the majority of houses out there.
If you are going to go the mobile home route and have a million dollars, why not just purchase a mobile home park and charge people rent to park their homes on your land? It's actually expensive to relocate a mobile home, so you could probably increase rates and the poorcells living there won't do much else other than complain. There seems to be way more potential in something like that than a measly 20k per year.
post 1685472523 06-28-2023, 11:29 AM
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#208
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Originally Posted By semenreleaser⏩
If you are going to go the mobile home route and have a million dollars, why not just purchase a mobile home park and charge people rent to park their homes on your land? It's actually expensive to relocate a mobile home, so you could probably increase rates and the poorcells living there won't do much else other than complain. There seems to be way more potential in something like that than a measly 20k per year.
Nobody said you can't invest to take your income above $20k.
post 1685473273 06-28-2023, 11:39 AM
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#209
  1. eddiehaskell
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Originally Posted By Anachron⏩
Posting from the pool, while you're "working on your breast stroke"?



I just arrived...about to apply sunscreen and get a hotdog. Beautiful day 87 degrees
post 1685473563 06-28-2023, 11:43 AM
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#210
  1. eddiehaskell
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Originally Posted By Anachron⏩
Be careful, you might blow your budget buying that hotdog.
As income has grown food is definitely my biggest splurge...eat out 90% of meals
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