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How much money?
Old 06-20-2005, 10:48 AM   #1
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How much money?

How much money do you think it takes to RE?

Of course, this is a personal question, but I am curious within the context of your planned life.

For example:

"I need $20,000 to retire early. I am going to hitchhike up and down the east coast and beg for food. However, sometimes I want to be able to supplement, and I figure that 4% of $20,000 will provide some supplemental income when I am about to starve". (I know a guy doing this by the way)

Or, "I need $500,000. I am willing to draw off 5% a year and live off $25,000. I am planning on moving to Laka Chapala and buying a place for $110,000 to reduce the uncertainty of rents rising"


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Re: How much money?
Old 06-20-2005, 12:00 PM   #2
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Re: How much money?

Originally Posted by SilverLining
How much money do you think it takes to RE?
You need to have savings of about 25 times whatever gross income you need to live on.* So, if you need $20K a year of gross income, you will need approximately $500K saved.

No man is free who is not master of himself. --- Epictetus
Enjoy Yourself (It's Later Than You Think). --- Guy Lombardo
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Re: How much money?
Old 06-20-2005, 12:13 PM   #3
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Re: How much money?

Where is Laka Chapala?
Sometimes death is not as tragic as not knowing how to live. This man knew how to live--and how to make others glad they were living. - Jack Benny at Nat King Cole's funeral
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Re: How much money?
Old 06-20-2005, 01:02 PM   #4
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Re: How much money?

Largest lake in Mexico, about an hour outside of Guadalajara. Popular retirement area.
We are, as I have said, one equation short. Keynes
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