Asteroid impact, ebola, zombie uprising. There is no safe number.
Asteroid impact, ebola, zombie uprising. There is no safe number.
Ya, so I was saying congrats because they comprehended my poorly stated question, meant as a compliment to them and self-deprecating my writing skills.
edit: FWIW - reading comprehension is one of the skills I look for, most employees sorely lack this. I find it ridiculous when degreed workers neither read nor follow a instruction manual. I think it's a valuable skill. Especially when reading a lot of things that are now so-so translations from Germany, India, China. You really have to pay attention.
Yes you were complementing those who understood your question, and implying that those who did not understand did not possess the skill you feel is so important.
Asteroid impact, ebola, zombie uprising. There is no safe number.
It's unfortunate you feel slighted, but you have no right to state what my internal intent or meaning was. I'm far from perfect, and will continue to be. Let's move on.
I think the point about whether the funds are in tax deferred accounts, or available immediately are valid. At 37 the majority of my money was in my 401k.... not really touchable without penalty and taxes.... which make it worth a lot less at that age.
With $500,000 FIRECalc gives you 100% success if you retire today and live off $17,000 and adjust for inflation thereafter.
If you leave the money alone for 13,years and retire at 50 you can start at $31,000 income with 100% success.
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I'm handcuffed by age.
In hindsight, I guess I didn't ask the question in a way everyone understood. For those that "got it", congrats on your reading comprehension skills.
So let me try this differently - Maybe a safe number (or Coasting number, which I agree could be a better term) should be in the format of number@age.
Also, to clarify - this number was a number in which you are "over the hump", and you know that even if life turns sideways on you, you'll have a little something, you will not starve. You might live in a tent hunting and fishing till the day you die, but you will always have a nice tent, a nice pole, and ammunition. You have your basic needs met for life, not your "lifestyle choices".
For those that said multiple millions for this number, I pray my question was unclear for you, otherwise I will pray for you, and I'm an atheist.
2M for DW and myself. In fact, we just reached it. So I' about ready to tell my boss off.
That's very different from how I think about it. I have (presumably) time to let it grow. I can have a mid life crisis, lose/quit my job, just do enough to make ends meet and that egg will likely grow, and when I need it will be enough to get by. My safe number isn't my "retire now" number, it's my "I can lose most of my earning power, and still be ok long term". Or another way I look at it is, I can reinvent myself by switching careers just because I feel like it and make almost nothing, and still be ok.
It's a tough question, as "safety" is such a personal thing. I felt like we secured our basic needs "forever" with a paid-for home and our first million. That was when we lived in a low to average COL area. But in order to secure a great quality of life for our future, we need considerably more.