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re: What age do you think you'll retire and how much do you think you'll have
Posted on 10/18/24 at 5:54 pm to Thundercles
Posted on 10/18/24 at 5:54 pm to Thundercles
At about 4m at 36. Plan to semi retire at 40 with around 7/8
0
Posted on 10/18/24 at 7:43 pm to Thundercles
75...in my family, the men never retire.
Posted on 10/18/24 at 8:00 pm to Thundercles
I am never going to retire.
Spent the first 15 years of my career building a big nest egg and saving for my kids college.
Spent the second 15 years paying off all my debts.
Going to spend the next 15-35 years making money and spending it like I am a trust fund baby. Already taken the wife on two big overseas vacations in the last 14 months and planning to do at least 2 more per year. We just do things now without looking at the cost. If we want to do it - we do it.
It helps that I love my job.
Spent the first 15 years of my career building a big nest egg and saving for my kids college.
Spent the second 15 years paying off all my debts.
Going to spend the next 15-35 years making money and spending it like I am a trust fund baby. Already taken the wife on two big overseas vacations in the last 14 months and planning to do at least 2 more per year. We just do things now without looking at the cost. If we want to do it - we do it.
It helps that I love my job.
Posted on 10/18/24 at 8:26 pm to SECdragonmaster
Retired in early 50s. I have more income now than I did when I worked with a growing portfolio. I'm around $6M liquid. Being retired is nice.
EDIT: If anyone has the nuts to explain their downvotes, I'd love to hear the reason.
EDIT2: That's what I thought.
EDIT: If anyone has the nuts to explain their downvotes, I'd love to hear the reason.
EDIT2: That's what I thought.
This post was edited on 10/19/24 at 7:40 am
Posted on 10/18/24 at 9:07 pm to SECdragonmaster
quote:
I am never going to retire. Spent the first 15 years of my career building a big nest egg and saving for my kids college. Spent the second 15 years paying off all my debts. Going to spend the next 15-35 years making money and spending it like I am a trust fund baby. Already taken the wife on two big overseas vacations in the last 14 months and planning to do at least 2 more per year. We just do things now without looking at the cost. If we want to do it - we do it. It helps that I love my job.
I’m in an outside sales role with no repeat customers so not sure I want to do this past 55. I may do something else or buy a business but I’ll need to stay busy.
Posted on 10/18/24 at 10:09 pm to Rize
I love my job and when I’m 65 I’ll retire with a nice pension and same with my wife. We also have 600k in our 401k and we are late 30’s. I figure we should have just over 5mil plus our pension. We also have 5 rental properties along with 8nvestment accounts. Figure conservatively we will have 25k-30k a month in retirement starting at 62. House is already paid off and no debt. We have 2 cars both under 120k miles and paid off 5 years ago. I know we can easily afford new cars and stuff but hard to put any money in such a depreciating investment. I would rather throw 30k in my Charles swab account than buy a car. The main obstacle is we both wake up every day loving going to work so it will be hard to retire. Do what you love and your never work a day in your life
Posted on 10/18/24 at 10:54 pm to tigerbacon
quote:
I love my job and when I’m 65 I’ll retire with a nice pension and same with my wife. We also have 600k in our 401k and we are late 30’s. I figure we should have just over 5mil plus our pension. We also have 5 rental properties along with 8nvestment accounts. Figure conservatively we will have 25k-30k a month in retirement starting at 62. House is already paid off and no debt. We have 2 cars both under 120k miles and paid off 5 years ago. I know we can easily afford new cars and stuff but hard to put any money in such a depreciating investment. I would rather throw 30k in my Charles swab account than buy a car. The main obstacle is we both wake up every day loving going to work so it will be hard to retire. Do what you love and your never work a day in your life
I’m the opposite. I like to drive the new cars and typically trade out every 4 to 5 years. I keep trading up on my house also. Close on a house November 1st that’s going to put me in more debt than I’ve ever had in my life.
I figure if I’m making good money might as well spend some of it.
Posted on 10/18/24 at 11:15 pm to Thundercles
Shooting for 52, paid off house, 3.5m to be financially set.
Don't think I'll retire. I could greatly simplify my business and still be doing what I view as extremely well. I can work from anywhere that has internet so I can leave for weeks at a time if I want too, especially with how everyone is now comfortable with Zoom/Teams. I could, but honestly it'd feel a little stupid to retire fully at that point and leave the money on the table with that work/life balance available.
Don't think I'll retire. I could greatly simplify my business and still be doing what I view as extremely well. I can work from anywhere that has internet so I can leave for weeks at a time if I want too, especially with how everyone is now comfortable with Zoom/Teams. I could, but honestly it'd feel a little stupid to retire fully at that point and leave the money on the table with that work/life balance available.
Posted on 10/18/24 at 11:31 pm to UpstairsComputer
I guess I am in the minority here. I do not look at an overall total but rather how much passive income can I generate in a month. I would like the get to 35k to 50k a month passive income.
I am not a stock market person. Everything I have is in commercial real estate, small businesses and land.
House is paid off. Every time I make extra, I reinvest in the above three and never keep much in savings or accounts.
If ever needed the cash I would probably sell or leverage property. Otherwise its more about monthly earnings that my hands do not have generate.
I am not a stock market person. Everything I have is in commercial real estate, small businesses and land.
House is paid off. Every time I make extra, I reinvest in the above three and never keep much in savings or accounts.
If ever needed the cash I would probably sell or leverage property. Otherwise its more about monthly earnings that my hands do not have generate.
This post was edited on 10/18/24 at 11:32 pm
Posted on 10/18/24 at 11:34 pm to Tenfold
quote:
I guess I am in the minority here. I do not look at an overall total but rather how much passive income can I generate in a month. I would like the get to 35k to 50k a month passive income. I am not a stock market person. Everything I have is in commercial real estate, small businesses and land. House is paid off. Every time I make extra, I reinvest in the above three and never keep much in savings or accounts. If ever needed the cash I would probably sell or leverage property. Otherwise its more about monthly earnings than my hands do not have generate that is the ultimate goal.
All y’all have paid off houses and I’m going into debt with a 6k mortgage November 1st
Posted on 10/18/24 at 11:35 pm to Tenfold
Why do you need $450K+ in cash flow a year? Are these assets highly leveraged?
Posted on 10/18/24 at 11:57 pm to lynxcat
Probably a good question that I do not have an answer.
I want to be able to travel, help my children and one day grandchildren. If that includes private education or whatever. All I know is I can’t control tomorrow but would like to have passive income that affords me the opportunity to be generous and on the move.
Not sure what highly leveraged means. Hope to have all properties paid in 3 to 5 years. And be completely debt free.
All these things sound like a plan but it’s just goals and who know what will happen in the end.
I want to be able to travel, help my children and one day grandchildren. If that includes private education or whatever. All I know is I can’t control tomorrow but would like to have passive income that affords me the opportunity to be generous and on the move.
Not sure what highly leveraged means. Hope to have all properties paid in 3 to 5 years. And be completely debt free.
All these things sound like a plan but it’s just goals and who know what will happen in the end.
Posted on 10/19/24 at 12:51 am to Thundercles
Hoping for mid 50’s with 2-3 million.
This post was edited on 10/19/24 at 5:55 am
Posted on 10/19/24 at 1:13 am to Thundercles
I retire in 8 weeks. I'll be 43.
Thanks Army! Also thanks to the random reserve COL in 2003 who gave us all a financial management class at Camp New York, Kuwait. Changed my life wish I remembered his name so I could thank him now.
Thanks Army! Also thanks to the random reserve COL in 2003 who gave us all a financial management class at Camp New York, Kuwait. Changed my life wish I remembered his name so I could thank him now.
Posted on 10/19/24 at 6:46 am to Thundercles
Retired at 55 with 3.5M. Have 4M now, 7 years later. I am full time investor now, and mostly live off profits from real estate investing.
Posted on 10/19/24 at 7:39 am to Tenfold
quote:I do this in in the stock market. If you're investing in actual assets that you have to manage then you're just making more work for yourself. If that's what you know and love, then great, but I wouldn't want to have to fool with the administration of those things.
I do not look at an overall total but rather how much passive income can I generate in a month. I would like the get to 35k to 50k a month passive income.
Posted on 10/19/24 at 8:12 am to Tenfold
Debt free would mean no leverage (debt). Good for you! $450K a year cash flow is equivalent to $10M invested assets at a conservative rate of return.
Posted on 10/19/24 at 8:13 am to RoyalWe
To each his own, right.
It’s something to keep up with but not a burden. It’s physical assets which from some reason work for me.
I tried the market and it becomes a high or emotional even when I try to make it rational.
Someone people really do well in the market. So far it hasn’t worked well for me.
Hope everyone on this Board prospers in their own way.
It’s something to keep up with but not a burden. It’s physical assets which from some reason work for me.
I tried the market and it becomes a high or emotional even when I try to make it rational.
Someone people really do well in the market. So far it hasn’t worked well for me.
Hope everyone on this Board prospers in their own way.
Posted on 10/19/24 at 8:14 am to lynxcat
Thanks Lynx
It’s a goal. Haven’t arrived but I am 51 and have good energy so I guess we will see what happens.
T
It’s a goal. Haven’t arrived but I am 51 and have good energy so I guess we will see what happens.
T
Posted on 10/19/24 at 8:15 am to Tenfold
Only watch out for you is to try to avoid being too consolidated in a single asset class in a single geographic area.
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