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Forum ยป 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 1685486573 06-28-2023, 02:29 PM
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Originally Posted By Anachron⏩
Your net worth increased by $100K in 2.5 years.

That's cute.
Yep, doing absolutely nothing. And half that time the market was in the chitter. How much does the average person's net worth go up in a couple years? How much did yours?
post 1685486653 06-28-2023, 02:30 PM
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Originally Posted By Godfrd824⏩
I've been done with work for hours now. And no you don't. Unless you live in a 300sq ft efficiency.
Dont know what to tell you brother...outside temps probably averaged high 70s last month and most of my house is shaded by trees.
post 1685486783 06-28-2023, 02:31 PM
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Originally Posted By badger6⏩
Yep, doing absolutely nothing. And half that time the market was in the chitter. How much does the average person's net worth go up in a couple years? How much did yours?
$100k net worth increase on $1M is basically $30 by misc standards.
post 1685486963 06-28-2023, 02:33 PM
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Originally Posted By badger6⏩
Yep, doing absolutely nothing. And half that time the market was in the chitter. How much does the average person's net worth go up in a couple years? How much did yours?
About $240k in the last 18 months, and I'm a poverton.
Originally Posted By eddiehaskell⏩
Dont know what to tell you brother...outside temps probably averaged high 70s last month and most of my house is shaded by trees.
What about when it's 82 degrees like today?
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 1685487613 06-28-2023, 02:42 PM
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Wait till you find out about inflation...

To be safe you can roughly pull out 4.5% per year. So this will give you 65K a year. Semi doable at first particularly if you have a paid off house.

However in 20 years your 75K a year will feel like 35k per year in todays dollars.
post 1685487903 06-28-2023, 02:47 PM
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Originally Posted By Godfrd824⏩
About $240k in the last 18 months, and I'm a poverton.
Well congratulations, but when a person accumulates enough money to fit a lifestyle they're comfortable with, who are you to say what is and isn't enough? I basically make $70k a year sitting on my ass. You act like that's a bad thing. Is $70k a year with a paid off house and car not enough? A million dollar net worth is somewhere around the top 10%, I don't understand your logic.
post 1685487963 06-28-2023, 02:48 PM
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Originally Posted By badger6⏩
Well congratulations, but when a person accumulates enough money to fit a lifestyle they're comfortable with, who are you to say what is and isn't enough? I basically make $70k a year sitting on my ass. You act like that's a bad thing. Is $70k a year with a paid off house and car not enough? A million dollar net worth is somewhere around the top 10%, I don't understand your logic.
$70k is ok. $20k is hard to believe, especially when OP says he eats out 90% of the time and spends $8-$12 per meal. Do the math on that.
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 1685488143 06-28-2023, 02:51 PM
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How about saving enough to live off the dividends and then working part time? Saving close a mill is going to take a while for some

I have zero interest in spending nearly 80% working to fund a lifestyle I don't have time for in the first place. My goal is to save up, invest, work part time and hopefully have a paid house
L.A. LAKERS
post 1685488193 06-28-2023, 02:51 PM
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Originally Posted By Austanian⏩
Wait till you find out about inflation...

To be safe you can roughly pull out 4.5% per year. So this will give you 65K a year. Semi doable at first particularly if you have a paid off house.

However in 20 years your 75K a year will feel like 35k per year in todays dollars.
The average stock market return is about 10% per year for nearly the last century. Not to mention SS income. Not to mention assets. I think I'll be just fine. Hell, I'm 51. I think my money will out last me. Anyhow, enjoy your day at work tomorrow
post 1685488563 06-28-2023, 02:57 PM
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Originally Posted By Godfrd824⏩
$70k is ok. $20k is hard to believe, especially when OP says he eats out 90% of the time and spends $8-$12 per meal. Do the math on that.
But I'm only spending $25-30k out of the $70K. I could spend less and not really notice it. You guys talk like eating out is some kind of orgasmic experience. I don't mind eating out, but it's not something I really look forward to either. I've had many friends and family members in the restaurant industry. Most restaurants are disgusting cesspools.
post 1685488933 06-28-2023, 03:05 PM
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Originally Posted By badger6⏩
But I'm only spending $25-30k out of the $70K. I could spend less and not really notice it. You guys talk like eating out is some kind of orgasmic experience. I don't mind eating out, but it's not something I really look forward to either. I've had many friends and family members in the restaurant industry. Most restaurants are disgusting cesspools.
It's like bizarro world for some people to wrap their mind around how people can live on something like $15-30k/year. At my lowest in my 20s to make room for more to invest I was living on less than $12k/year...and not even living bad...had a house, newer car, plenty of food, cell phone, gym membership, etc.

time is a finite thing and i refused to let the trinkets in life keep me working 80% of my life away. no way, no how, never. some of us find a way to get that done instead of waiting for 70+ to come.
post 1685489123 06-28-2023, 03:08 PM
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Originally Posted By eddiehaskell⏩
It's like bizarro world for some people to wrap their mind around how people can live on something like $15-30k/year.
actually its you, who can't wrap their mind around most normal people being unable to live on 15-30k/year.

what is that, a mcdonalds workers salary?

if you can't understand that a mcdonalds worker would struggle to pay rent n chit, then its actually you who's out of touch
post 1685489473 06-28-2023, 03:13 PM
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Originally Posted By bicmane102⏩
actually its you, who can't wrap their mind around most normal people being unable to live on 15-30k/year.

what is that, a mcdonalds workers salary?

if you can't understand that a mcdonalds worker would struggle to pay rent n chit, then its actually you who's out of touch
You have to pay CLOSE attention to what we are saying. Living on $15-30k/year with no debt, no mortgage/rent, no car payments is WORLDS away from living as a McDonalds employee on $25k with basically a zero net worth.
post 1685489693 06-28-2023, 03:17 PM
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Originally Posted By eddiehaskell⏩
You have to pay CLOSE attention to what we are saying. Living on $15-30k/year with no debt, no mortgage/rent, no car payments is WORLDS away from living as a McDonalds employee on $25k with basically a zero net worth.
nah, you are both living with like $1000/month to spend.

ok maybe the mcdonalds worker a little less.

but its not a huge difference.
post 1685489883 06-28-2023, 03:20 PM
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Originally Posted By bicmane102⏩
nah, you are both living with like $1000/month to spend.

ok maybe the mcdonalds worker a little less.

but its not a huge difference.
The mcdonald's worker has a lot of expenses that we essentially paid up front...namely rent/mortgage. I live a middle class lifestyle on $1,000 month.
post 1685490003 06-28-2023, 03:22 PM
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Originally Posted By eddiehaskell⏩
The mcdonald's worker has a lot of expenses that we essentially paid up front...namely rent/mortgage. I live a middle class lifestyle on $1,000 month.
yeah maybe for now

luckily you're still relatively young and healthy enough to back to work when you need to
post 1685491323 06-28-2023, 03:43 PM
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Originally Posted By badger6⏩
The average stock market return is about 10% per year for nearly the last century. Not to mention SS income. Not to mention assets. I think I'll be just fine. Hell, I'm 51. I think my money will out last me. Anyhow, enjoy your day at work tomorrow
It sounds like you are living on poverty and I didn't have your exact numbers so maybe you will be fine besides you are older.

Lets do something a little more realistic.

I have a million dollars saved up at 40 years old and if my money makes it to 100 years old I win. I don't want to live in poverty. I worked hard to get that million at a low age of 40. I decide I am going to pull out todays dollar equivalent of 6k per month 72k per year.

I figure I should be fine because the stock market has averaged 10% and I am only pulling out 7.2%

So I run a monte carlo simulation based on this information.

There is over a 10% chance that in 13 years you will have burned through that million dollars.
There is over a 25% chance that in 17 years you will have burned through that million dollars.
There is over a 50% chance that in 28 years you will have burned through that million dollars.

This is because you are actually living on the money and are pulling it out on both up and down times.

Infact only 32.74% survived 60 years.

Here is a basic version of the scenario generator.https://www.portfoliovisualizer.com/...nalysisResults
post 1685491613 06-28-2023, 03:47 PM
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We need a period of real hardship to remind people that having work to do and ways to make $$$ is a good thing, this chit is such a symptom of times that are far too good

Too many people have never been legitimately hungry
post 1685491823 06-28-2023, 03:50 PM
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Originally Posted By Austanian⏩
It sounds like you are living on poverty and I didn't have your exact numbers so maybe you will be fine besides you are older.

Lets do something a little more realistic.

I have a million dollars saved up at 40 years old and if my money makes it to 100 I win. I don't want to live in poverty. I worked hard to get that million at a low age of 40. I decide I am going to pull out todays dollar equivalent of 6k per month 72k per year.

I figure I should be fine because the stock market has averaged 10% and I am only pulling out 7.2%

So I run a monte carlo simulation based on this information.

There is over a 10% chance that in 13 years you will have burned through that million dollars.
There is over a 25% chance that in 17 years you will have burned through that million dollars.
There is over a 50% chance that in 28 years you will have burned through that million dollars.

This is because you are actually living on the money and are pulling it out on both up and down times.

Infact only 32.74% survived 60 years.

Here is a basic version of the scenario generator.https://www.portfoliovisualizer.com/...nalysisResults
$6k/month to "not live in poverty" bahahahahaha. I prefer living in poverty by misc standard than letting Noseberg take my soul.
post 1685491943 06-28-2023, 03:52 PM
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Originally Posted By Destor⏩
We need a period of real hardship to remind people that having work to do and ways to make $$$ is a good thing, this chit is such a symptom of times that are far too good

Too many people have never been legitimately hungry
I prefer any work I do to be for me...not sum bum telling me when to be there and when to go home...basically my entire young life revolving around work. no thanks Jeff.
post 1685492743 06-28-2023, 04:03 PM
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Originally Posted By eddiehaskell⏩
I prefer any work I do to be for me...not sum bum telling me when to be there and when to go home...basically my entire young life revolving around work. no thanks Jeff.
This type of mindset is such a strong argument for more immigration, we need to bring people over from less fortunate parts of the world where they know that a strong economy / jobs / work are a good thing and they're hungry af for their opportunity to earn their slice while contributing to society

Not this self-absorbed wah wah getting up for work in the morning is such hardship. Where are the hard times to create strong men...
post 1685493163 06-28-2023, 04:10 PM
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Originally Posted By Destor⏩
This type of mindset is such a strong argument for more immigration, we need to bring people over from less fortunate parts of the world where they know that a strong economy / jobs / work are a good thing and they're hungry af for their opportunity to earn their slice while contributing to society

Not this self-absorbed wah wah getting up for work in the morning is such hardship. Where are the hard times to create strong men...
You do what you gotta do with all that philosophical bullshyt...I'm looking out for numero uno and my one life to live.
post 1685493403 06-28-2023, 04:14 PM
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Originally Posted By Destor⏩
This type of mindset is such a strong argument for more immigration, we need to bring people over from less fortunate parts of the world where they know that a strong economy / jobs / work are a good thing and they're hungry af for their opportunity to earn their slice while contributing to society

Not this self-absorbed wah wah getting up for work in the morning is such hardship. Where are the hard times to create strong men...
Originally Posted By eddiehaskell⏩
You do what you gotta do with all that philosophical bullshyt...I'm looking out for numero uno and my one life to live.
both are good points tbh. and neither are wrong.

selfishness and looking out for yourself only

or

contributing to society by working and offering value

its up to us to decide.
post 1685493553 06-28-2023, 04:17 PM
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Originally Posted By MikeLowrrrey⏩
Oh I see. I've read that $1 million liquid in a high yield savings brings in around $40k/yr or so.



He could still pick up a part time job and double that easily. $20/hr x 25 hours a week. That's $24,000 a year gross extra.
https://www.treasurydirect.gov/aucti...-data-results/

1 mil in short term t bills you're looking at an avg of 5.25% yield risk free with no tenants to worry about.
post 1685493623 06-28-2023, 04:18 PM
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Originally Posted By eddiehaskell⏩
You do what you gotta do with all that philosophical bullshyt...I'm looking out for numero uno and my one life to live.
so you're solo no life/gf or kids...
post 1685493663 06-28-2023, 04:19 PM
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Originally Posted By bicmane102⏩
both are good points tbh. and neither are wrong.

selfishness and looking out for yourself only

or

contributing to society by working and offering value

its up to us to decide.
There are ways to make yourself valuable to people after leaving the rat race (which mostly only benefits noseberg and boys). you can make yourself available to help people...and probably be way more beneficial to people than you are sitting in some cubicle looking at a monitor.
post 1685493973 06-28-2023, 04:23 PM
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Originally Posted By eddiehaskell⏩
There are ways to make yourself valuable to people after leaving the rat race (which mostly only benefits noseberg and boys). you can make yourself available to help people...and probably be way more beneficial to people than you are sitting in some cubicle looking at a monitor.
society needs workers to keep society working.

if too many people have your point of view. society probably collapses lol

and seems like we actually might already be in the beginning stages of.
post 1685494123 06-28-2023, 04:27 PM
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Originally Posted By eddiehaskell⏩
$6k/month to "not live in poverty" bahahahahaha. I prefer living in poverty by misc standard than letting Noseberg take my soul.
LOL I am imagining you living in a Detroit crackhouse alone.


After taxes and Medical insurance that means your FCF is $4300 per month. Respectable, but not lavish by any means.

Average 3 bed 2 bath apartment is $1700 per month.https://www.rentcafe.com/average-rent-market-trends/us/
2 cars. To keep it simple we will buy a new Honda Civic base model every 5 years keeping it for 10. Driving 15k miles per year, insuring, and repairing it. $950
200 a week for food. $866 per month.
Utilities $150

Free cash is $146 per week or $633 a month for everything else.

Which ties in very closely to the average US household income of 70k Per year (2021)
post 1685494323 06-28-2023, 04:30 PM
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Originally Posted By bicmane102⏩
society needs workers to keep society working.

if too many people have your point of view. society probably collapses lol

and seems like we actually might already be in the beginning stages of.
if feeling like you keep society going gets you through the work day...so be it.
post 1685494423 06-28-2023, 04:31 PM
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Originally Posted By eddiehaskell⏩
if feeling like you keep society going gets you through the work day...so be it.
you don't want to have kids so i can understand why you don't care about society.

that was kinda my first post ITT

what you are doin is fine if you dont want kids, but if you do, you need more than what you have.
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