one out of six retire a millionaire

[Offgrid Organic Farmer]

$1MM today, using the 4% rule, only throws off $40K in annual income. For most here, that's insufficient to retire, especially early. If you retire at the FRA for SS, and you live in a low cost area, it's likely almost enough. You are correct...most here retire with $2-3MM, minimum, and plan on taking out 3-4% annually.

My pension pays me a bit less than $20k/year.

My investments provided me enough to buy raw land, build a farmhouse and set it up as an operating farm.

We raise livestock and garden, and we sell farm produce in a few markets. Our total annual income [pension and farm income] is still far less than $40k/year.

We have been here doing this lifestyle for 12 years.

And our portfolio has been growing.

I mentioned the Prius in a previous post, because we like them. Our farm is on solar-power. Our latest Prius is a plug-in, that we recharge it from our household solar-power system.

 

[jane_sm1th73]

$1MM today, using the 4% rule, only throws off $40K in annual income. For most here, that's insufficient to retire, especially early. If you retire at the FRA for SS, and you live in a low cost area, it's likely almost enough. You are correct...most here retire with $2-3MM, minimum, and plan on taking out 3-4% annually.

If I squint real hard and make believe the equity in my rentals is going up real fast; and that my CEFs will never lose NAV; and hope that they will always yield somewhere in the 9% range; and pray that my prospective Roth conversions will cost a pittance in conversion taxes; and omit the sad need to someday furnish my condo; and carry around the delusion that my (prospective) dog will never have other than maintenance vet bills...and..and...and...

I MIGHT come close to the lower end of that range when I pull the plug in a couple years.

Man, I'm with the poster who said he felt a tad apprehensive, lol! I feel downright TERRIFIED!

YMMV, and I truly hope it does, lolol!!

 

[brucethebroker]

LOL - and some of us figured out that not working was far better than hitting that number.

+1.
But, whatever floats your boat....

 

[Sunset]

Or food. 1950 vs. 2015:

Bacon : x9: 64 cents to $5.47
Potato: x14: 46 cents to $6.46
Oranges: x3: 49 cents to $1.19

Being an orangetarian turns out to be much cheaper than potato-head.

Source: https://www.infoplease.com/business...ail-prices-selected-foods-us-cities-1890-2015

Most of those prices listed in the link seem approximately correct, except potatoes. That number is too high.
They must be buying them as five 2lb bags. I just bought 10 lbs for $1.99
Maybe they took the sample a Whole foods