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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 1685421583 06-27-2023, 03:06 PM
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#151
  1. Godfrd824
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Originally Posted By eddiehaskell⏩
I bought a $27k double wide that I put $10k into and flipped...nearly 10 years later the people livin in it still have a home functioning as a home.



A fook I cannot give to you.
I'm sure that's true, but there's a difference between subsistance and comfort.
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 1685421783 06-27-2023, 03:09 PM
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#152
  1. eddiehaskell
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Originally Posted By bicmane102⏩
you keep doing this.

not answering the question and responding with a complete change of subject lol
I lived a pretty basic working class lifestyle which is fine for someone in their 20s with a bigger overall goal. Had a paid off 3br/2ba brick house in a quiet neighborhood, 800 sq ft 2 car detached garage, iphone, internet, tv service, gym membership, went out to eat, newer (at the time) car, etc.
post 1685421863 06-27-2023, 03:10 PM
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#153
  1. eddiehaskell
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Originally Posted By Godfrd824⏩
I'm sure that's true, but there's a difference between subsistance and comfort.
They lay on their couch eating McDonalds watching movies just as comfortably as you.
post 1685422063 06-27-2023, 03:13 PM
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#154
  1. eddiehaskell
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Originally Posted By BigDeeps01⏩
I’ve been poor before and I’m significantly happier having money lol
$20k/year and a net worth approaching or exceeding $1M isn't exactly poor.
post 1685422413 06-27-2023, 03:18 PM
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#155
  1. Godfrd824
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Originally Posted By eddiehaskell⏩
They lay on their couch eating McDonalds watching movies just as comfortably as you.
But then again there's a difference between choosing McDonald's, and not being able to get anything more than McDonald's.
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 1685422613 06-27-2023, 03:21 PM
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#156
  1. eddiehaskell
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Originally Posted By Godfrd824⏩
But then again there's a difference between choosing McDonald's, and not being able to get anything more than McDonald's.
Ehh, Donald Trump still likes McDonalds and KFC. If you want something better whip it up in the kitchen for a relatively modest price. But let me guess...you want sperm whale testicles shipped from Japan or something like that for lunch.
post 1685422763 06-27-2023, 03:24 PM
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#157
  1. Barteh
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Originally Posted By eddiehaskell⏩
Ehh, Donald Trump still likes McDonalds and KFC. If you want something better whip it up in the kitchen for a relatively modest price. But let me guess...you want sperm whale testicles shipped from Japan or something like that for lunch.
McDonalds is absolute garbage man. It shouldn't even be considered food. It's all fake food filled with chemicals. Bringing up an obese old man isn't really making your argument any stronger.

Nothing wrong with having some unhealthy crap like once a month and it will definitely not kill you. But I wouldn't be talking it up. Especially McDonalds is like the chittieest of chit tier food.
post 1685422903 06-27-2023, 03:27 PM
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#158
  1. eddiehaskell
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Originally Posted By Barteh⏩
McDonalds is absolute garbage man. It shouldn't even be considered food. It's all fake food filled with chemicals. Bringing up an obese old man isn't really making your argument any stronger.

Nothing wrong with having some unhealthy crap like once a month and it will definitely not kill you. But I wouldn't be talking it up. Especially McDonalds is like the chittieest of chit tier food.
The point isn't that McDonalds is super high quality food...the point is that sometimes people of any economic status just want a damn big mac or greasy bucket of chicken.

I eat whatever I want as much as I want and I'm still slim and in shape...it is what it is. granted, being retired and sleeping all I want isolates me from 90% of the stress most worker bees deal with.
post 1685423523 06-27-2023, 03:35 PM
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#159
  1. eddiehaskell
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Originally Posted By Anachron⏩
Oh now it's just approaching.

Just LOL @ the LARPs.
Reading is fundamental my subject.

Title of thread "You can retire for life on less than $1M net worth and $20k/yr passive income"
post 1685423663 06-27-2023, 03:37 PM
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#160
  1. miscallday12
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Has anyone asked yet?

Paid off house and $1 mill liquid?
Cost of house included in $1 mil?
Rentcel?
post 1685423853 06-27-2023, 03:41 PM
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#161
  1. eddiehaskell
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Originally Posted By Anachron⏩
Yet, you claimed top 10%, which is around $1.2 million.

You might want to do your research before you commit to the LARP.
The thread is simply what CAN be done if you would pay attention and read. It has nothing to do with my current personal net worth which has grown since I've been retired.

And according to the statistics I see -- for someone under 40...substantially less than 1.2M is required to be top 10% in net worth.

https://dqydj.com/net-worth-by-age-c...united-states/

Anything else you'd like to say?
post 1685423963 06-27-2023, 03:43 PM
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#162
  1. eddiehaskell
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Originally Posted By miscallday12⏩
Has anyone asked yet?

Paid off house and $1 mill liquid?
Cost of house included in $1 mil?
Rentcel?
Paid off home included in net worth. Doesn't really matter if $1M is liquid or not...just need the income stream.
post 1685424013 06-27-2023, 03:44 PM
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#163
  1. eddiehaskell
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Originally Posted By Anachron⏩
Apparently OP has multiple investment properties and a paid off house.

Total net worth under $1 million, and a net profit of only $20K/year.

It's pure fantasy at best.
False currently...but true for me in the past around when I first retired.
post 1685424293 06-27-2023, 03:50 PM
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#164
  1. eddiehaskell
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Originally Posted By Anachron⏩
I mean, if you would only post numbers instead of skirting around it, people might believe you.

But I know why you don't post numbers, and so do you.
At this point I don't even like putting numbers on things and feel like it's in poor taste/bragging to put exact personal details of my finances on the internet.

For arguments sake you can just assume that $20k/year/approaching $1M specifically applies to me.
post 1685424383 06-27-2023, 03:52 PM
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#165
  1. bicmane102
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Originally Posted By eddiehaskell⏩
At this point I don't even like putting numbers on things and feel like it's in poor taste/bragging to put exact personal details of my finances on the internet.

For arguments sake you can just assume that $20k/year/approaching $1M specifically applies to me.
tbh that would be a brag at 18 or maybe even 28.

but not at 38 lol.
post 1685424493 06-27-2023, 03:54 PM
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#166
  1. eddiehaskell
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Originally Posted By bicmane102⏩
tbh that would be a brag at 18 or maybe even 28.

but not at 38 lol.
Either way. My personal information is secure for only myself, the IRS and one or two other people knowing and I like that. And yes, I'm fully aware that by misc standards you need $10+M by 30 to be doing anything, LOL.
post 1685424813 06-27-2023, 03:59 PM
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#167
  1. eddiehaskell
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Originally Posted By Anachron⏩
"For argument's sake"

Sure, brah.
Hey, I offered to pay you $20k...or we can make it $30k if my financial position doesn't check out. I can provide 15 years of taxes. Not sure what else I can do. Perhaps some wealthy miscer will take me up on it for shyts and giggles?
post 1685424933 06-27-2023, 04:01 PM
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#168
  1. eddiehaskell
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Originally Posted By Anachron⏩
Imagine being poor enough to beg other people for inconsequential amounts of money.
Well hey $20-30k does mean something to me...I'm not rich enough to deny that.
post 1685425093 06-27-2023, 04:03 PM
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#169
  1. eddiehaskell
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Originally Posted By Anachron⏩
Imagine being poor enough to beg other people for inconsequential amounts of money.

Edit : Wait, you didn't offer me $20K for me to verify your numbers. You asked me to pay you $20K for the privilege of reading your nubers.

So please confirm, you are willing to pay me $20K, in US dollars, for me to verify that your numbers are correct?

Yes or no answer please.
No. We agree on numbers that you believe I'm lying about. If my numbers check out -- you pay me. If they don't I pay YOU.
post 1685425233 06-27-2023, 04:06 PM
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#170
  1. eddiehaskell
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Originally Posted By Anachron⏩
So you are confirming that you didn't in fact offer to pay me $20K?
If you're right I am offering to pay you $20k. Cash, cashier's check...whatever you like.
post 1685425433 06-27-2023, 04:09 PM
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#171
  1. eddiehaskell
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Originally Posted By Anachron⏩
Interesting.

Right about what?
I don't know...whatever it is you think I'm lying about. We can agree to number on my net worth or something.
post 1685425883 06-27-2023, 04:18 PM
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#172
  1. eddiehaskell
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Originally Posted By Anachron⏩
I see.

What's in it for me though?
Bragging right that you put a fake in their place. $20k can go to a charity of your choice if you don't need it.
post 1685426203 06-27-2023, 04:22 PM
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#173
  1. eddiehaskell
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Originally Posted By Anachron⏩
I already did that though.
Right now you're just a random talking on the internet. If you prefer I'll give 20 miscers of your choosing $1,000
post 1685426443 06-27-2023, 04:26 PM
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#174
  1. eddiehaskell
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Originally Posted By Anachron⏩
Again, so nothing in it for me.

Nice try though.
Name a number that gets you interested
post 1685426683 06-27-2023, 04:31 PM
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#175
  1. eddiehaskell
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Originally Posted By Anachron⏩
You're not getting it, are you...

I am perfectly fine with the situation how it is right now, where you presented nothing that would make anyone believe you are anything other than a LARP.
y'all smell that? smells like fear. I own you now.
post 1685427493 06-27-2023, 04:44 PM
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#176
  1. DubBrah
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ITT:

1. OP posts his retirement situation which sounds nice TBH. I agree that time is the ultimate currency and everyone, regardless of their income, has the same 24 hours in a day. True freedom is living your dream and sounds like OP is doing that.

2. A ton of poser miscers come in and run down their net worth, passive income, first class, investment properties, yada yada pipe dreams they actually don't, and likely won't, ever live in an attempt to shyt on OP. It's played out and just parrots whatever youtube financial guru you've been watching. Statistically, about 2% could ever live like this and less than 1% of the misc.

3. Some miscers respond responsibly/realistically and share their ideas like normal human beings. Great job.
6'5, 240lbs.
post 1685427903 06-27-2023, 04:53 PM
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#177
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Originally Posted By Anachron⏩
Except...

OP is a known LARP.
Yet you are the only one that says that and you quiver in fear at putting your money where your mouth is.
post 1685432103 06-27-2023, 06:10 PM
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#178
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I work remotely 10-4 & don’t deal with most of that chit, feels good
27
6'3"
post 1685439113 06-27-2023, 08:18 PM
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#179
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Originally Posted By ScrillaIsBake⏩
Well 1 million in a 5% GIC would be $50k per year not bad
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
post 1685439203 06-27-2023, 08:21 PM
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#180
  1. BigDeeps01
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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
Yeah I didn’t even want to get into inflation lol
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