J
John Galt
Guest
And my life is nothing like what it was before.
Interesting...............
John Galt
Interesting...............
John Galt
On the money Jarhead! When people ask what ER is like, I tell them it's great, and it is. But my life is almost exactly like it was before - minus the job - and plus an extra 40 hours/week to do what I want to do. But in many ways it's the same. All the same infrastructure is still in place and must be paid for. It's not magic, and it doesn't change most things.
How do you highlight the quote like everyone else did. My e-mail before this one attempted to, but as you can see, was not successful. Help!
Sounds like some people can do it and some can't depending on lifetime expectancy and standard of living.
Looks like the average income needed per year is in the $40K to $50K range for a married couple. So with a SWR of 4%, it should be doable for the average family if they start at age 45 to 50.
Like TH, I thought retirement was sitting on the beach with a Mai Tai. I'm taking out the garbage every week!
Not necessarily freezing their pre-ER lifestyle. Certainly some are in the position to make changes and lower expenses without suffering too much. But some here propose retiring on very small amounts, which would require massive reductions for most of us. It's not realistic, IMO. And it's not about the people on the high end who have the luxury of freezing at the pre-ER level; it's more about the people on the low end who are already very close to locked in, simply because their expenses can't be cut all that much more. I expect there are some super-saver types here who live in modest homes, drive economy cars, don't take very many exotic trips, etc. It costs about so much to live a decent life, and if you go too much below that, it's not a pretty sight.I see some people propose ERing and freezing their pre-ER lifestyle. Pretty good if you have $2M+, but otherwise...why wouldnt you consider making change if it could enable or assure a long ER?
If you look at the upper right hand portion of every post you will see the word 'quote' and 'modify'. Just click quote and Wa La! 8)
Does this $1.4 million include the house one lives in or not? If it doesn't, I guess I'll need some more.But... how much money one needs at 40 to pack it in depends on the risk you are willing to take, the amount of money you require each month to live and the number of years it has to last.
If its conservative investing, about $3800 over 50 years the numbers I get are:
For an account of $ 1400000 at a interest rate of 5 % with an inflation rate of 3 % a year
Your Initial Monthly Payout : $ 3792.95
Over 50 Years
Being single I would begin with the perpetual traveler lifestyle. From what I've read by other posters and Paul and Vicki Terhorst's $50 a day rule (which is now probably $90). $2700 a month will do it.
plus $400 a month to maintain my medical insurance.
Does this $1.4 million include the house one lives in or not? If it doesn't, I guess I'll need some more.