Who's got the least?

[daylatedollarshort]

I'm not retired yet but I have read many examples of people who "retired" on various low amounts. Some travel around in third world countries living in a tent, youth hostels and other cheap accommodation. I've read about others who continue to live in the US by lowering their cost of living. Some built their own house (wood cabins, yurts, tiny houses, houses made of cargo containers, etc). Some chose to live out of their vehicle i.e. camper, van ,car, boat, etc. Some chose to live in a commune and others moved to a trailer park.

A huge percentage of the world population live on just $1 a day. So if you are willing to live like 2/3 of the world population (or whatever it is) or for that matter live like 99% of all previous generations, then I'd say a few thousand is probably plenty to retire on.

Even living middle class in the US in the 1950s involved less expenses in many categories - 259 avg sq ft of housing per person, one car, one bathroom, one TV with an antenna, wash hung out to dry, no cell phone, no cable, no Internet and no PCs.

 

[Totoro]

A huge percentage of the world population live on just $1 a day. So if you are willing to live like 2/3 of the world population (or whatever it is) or for that matter live like 99% of all previous generations, then I'd say a few thousand is probably plenty to retire on.

Since you are asking: About 20% live on $1.25 a day or less. It's called extreme poverty for a reason though.

Extreme poverty - Wikipedia, the free encyclopedia

The median income per capita (PPP) in the world is $13.000 per year.

 

[Fermion]

I'll bite.

Married couple, planning to sell house next year and live in custom built RV, boondocking and possibly renting a small apartment for part of year.

Portfolio projected to be $1,400,000 after sale of house. Expenses will be kept under $42,000 for a SWR of 3%. Age 45, 46 at time of ER. SS to be taken at 70.

Probably we will live modest for 9 months out of the year ($3k per month) and then live it up for 3 months (put RV in storage and fly to Costa Rica spending $5k per month).

 

[Sarah in SC]

Here's a previous version of this thread from 2006, including the winning post:
http://www.early-retirement.org/forums/f27/least-amount-someone-has-erd-with-20927.html#post387081

And from 2004:
http://www.early-retirement.org/forums/f29/retire-on-500-a-14426.html#post265550

I loved the baguette maneuver! Thanks for the resurrection!

 

[Fermion]

I like the optimism in the 2006 thread too.

One person was saying 4% SWR was too low and 6% is more realistic.

2006.

 

[bobafett]

I'm 36 and retired last year with roughly $400k in a 3 fund index portfolio, 110k in cash, and another 25k in a business investment that yields decent returns. I'm obviously not drawing SS# or anything else and the decision to finally throw in the towel was due to prolonged unemployment.

I didn't see a point in even trying to find a job again. It wasn't easy coming to my decision but it's been in the works for a long time now. Unfortunately, this "new" economy punishes the 20-30 somethings the hardest but I consider myself very lucky since I am debt free and have some money.

I live in Asia now and am able to enjoy quite a good lifestyle. I'll probably end up teaching english for awhile for fun and going that route.

If the market drops in the next year or two I plan on going all in with the rest of my cash on the market.

 

[ernow]

I consider myself semi-retired at 41. No full time job for me anymore thanks but I'd consider part time if it's something I'd enjoy. I'm single with a bit over 1mm split evenly between iras and taxable. I don't plan on hitting the iras until 59 1/2. I'm a minimalist so I don't spend much.

 

[ExFlyBoy5]

Not sure if I'd say I'll retire with 'the least'. I'll retire effective 31 Dec 2014 at 40 years old. I will have a cola protected pension, so that's worth a ton to me. Also have about 10k a year in dividend income. House has no mortgage. So for me, my time is worth much more than how ever much money I can earn through wo#rk.

Sent From My Motorola Startac. Please excuse grammatical errors.

 

[AnIntentionalRoad]

I'm 36 and retired last year with roughly $400k in a 3 fund index portfolio, 110k in cash, and another 25k in a business investment that yields decent returns. I'm obviously not drawing SS# or anything else and the decision to finally throw in the towel was due to prolonged unemployment.

I didn't see a point in even trying to find a job again. It wasn't easy coming to my decision but it's been in the works for a long time now. Unfortunately, this "new" economy punishes the 20-30 somethings the hardest but I consider myself very lucky since I am debt free and have some money.

I live in Asia now and am able to enjoy quite a good lifestyle. I'll probably end up teaching english for awhile for fun and going that route.

If the market drops in the next year or two I plan on going all in with the rest of my cash on the market.

Good for you!

In the past few months I've heard the phrase, "Do what you want to do!" several times from older retired men. (Just this morning in fact from my daughter's dance coach's 80-something father. Sounds like you got helped in that direction by unemployment, which is often a blessing in disguise.

What type of work did you do pre-retirement?

 

[bobafett]

Good for you!

In the past few months I've heard the phrase, "Do what you want to do!" several times from older retired men. (Just this morning in fact from my daughter's dance coach's 80-something father. Sounds like you got helped in that direction by unemployment, which is often a blessing in disguise.

Now that i'm in the ER phase of my life I definitely have no regrets. I feel like i'm finally alive and honestly the best feeling was just getting rid of a lot of my material possessions before heading onto that plane. Not to sound corny, but there's something cathartic about it.

What type of work did you do pre-retirement?

I worked in the tech industry where the hours were getting longer and the pay smaller as years go by. I was lucky to be pulling in a decent salary when I did.

 

[ERD50]

I like the optimism in the 2006 thread too.

One person was saying 4% SWR was too low and 6% is more realistic.

2006.

Well, historically 6% it has survived 30 years half the time. You could get lucky.

I'm not that much of a gambler.

-ERD50

 

[dallas27]

I'm 36 and retired last year with roughly $400k in a 3 fund index portfolio, 110k in cash, and another 25k in a business investment that yields decent returns. I'm obviously not drawing SS# or anything else and the decision to finally throw in the towel was due to prolonged unemployment.

I didn't see a point in even trying to find a job again. It wasn't easy coming to my decision but it's been in the works for a long time now. Unfortunately, this "new" economy punishes the 20-30 somethings the hardest but I consider myself very lucky since I am debt free and have some money.

I live in Asia now and am able to enjoy quite a good lifestyle. I'll probably end up teaching english for awhile for fun and going that route.

If the market drops in the next year or two I plan on going all in with the rest of my cash on the market.

Now thats impressive. You are basically right at my age and egg size, but you made it work by going overseas with your spending to stretch the dollar. Something for me to think about.


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