Plugging numbers into FIRE, I found that 100% of the time....
I can go 40 years spending $50k a year, if I can get 4% per year on $1.7 M.
The variable is how to guarantee 4% a year.
My question to the group is:
What were some numbers folks had when they "successfully" stop working forever? Any gotchas?
Are there any of you here or is this a fantasy?
For example: Expenses - $30k/year, Savings - $1.5 M (invested 60/40), etc etc.?
Does it have to be complicated?
1 poster said: $2.1 M at 3.8%. How do I guarantee 3.8%. Sometimes, like now, that number is not available guaranteed.
Thanks.
I can go 40 years spending $50k a year, if I can get 4% per year on $1.7 M.
The variable is how to guarantee 4% a year.
My question to the group is:
What were some numbers folks had when they "successfully" stop working forever? Any gotchas?
Are there any of you here or is this a fantasy?
For example: Expenses - $30k/year, Savings - $1.5 M (invested 60/40), etc etc.?
Does it have to be complicated?
1 poster said: $2.1 M at 3.8%. How do I guarantee 3.8%. Sometimes, like now, that number is not available guaranteed.
Thanks.