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Old 08-17-2016, 06:37 PM   #21
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I've skimmed his blog and he looks to be on the right track from my POV. He advocates a LBYM lifestyle that many here would agree with. He cites the 4 percent rule as his basis for "enough" and while thats more rear view mirror than crystal ball, it's all we have. The things I would quibble about would be that he is still very young which means lots of years in retirement, and he has children. I can accept the consequences that I suffer for bad decisions I make but I find it much harder to make the ones I love suffer. If he were older and childless, or at least had adult children I'd say. " let er rip."

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Old 08-17-2016, 09:50 PM   #22
Recycles dryer sheets
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Originally Posted by Another Reader View Post
Before you bash these folks too much, remember this forum's very own Fuego is doing the same thing. Yes, he's making some money blogging about it now, but that's a recent addition to the income streams. Two adults, three kids on $28k a year. Trying to raise the spending to $40k without success so far. It CAN be done if you have the basics in place - a paid off house, low taxes, and decent health care.
Absolutely it can be done. My family of four lives on 50k, everything is paid for including home, cars etc. We live like Kings, lol. I'm being a little sarcastic, but many people like myself in rural America can live very well on $25-50k a year depending on family size.

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Old 08-18-2016, 08:35 AM   #23
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Originally Posted by Fermion View Post
$1M gives you $40,000 at a 4% SWR, which in all likelihood is good for a 25 to 30 year the very least it gets them to age 70 SS, which would drop their SWR down to 2% or so depending on what they have left in the portfolio.

$40k is what a majority of Americans have as take home pay with two kids, so I guess the whole country is in poverty.
I'm guessing that you're thinking about median "household" income. But, lots of households have only one person.

The 2013 median for married couple families with children under 18 was about $85,000. (see the ninth table here: HINC-04 - U.S Census Bureau )

I think they pay no more than $12,000 in federal FICA and FIT. Of course, they might also pay state income tax. Their after-tax income seems to be over $70,000.

(The median for all four person families is lower, I assume that number includes a single parent with three children.)

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