with $1M now I could retire / stop work maybe 2-3 years earlier, and the payoff of free-hours-of-life is greater than the cost, so, yeah, probablyhttps://twitter.com/eade_bengard/status/1480028451713208323 …
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6/ so, knowing this, you can work backwards to see how much you should have saved by the time that you retire. Each $1M you have saved = $40k/yr retirement incomes. $2M = $80k/yr $3M = $120k/yr $4M =- $160k/yr etc so, if you wanted a fairly luxurious (by middle class std)
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7/ retirement income of $200k/yr, you'd want $5M saved. (discount these numbers by a bit if you expect Social Security to be around) So, if I could take 2 years off my life for $2M right now, I could invest the $2M for 10 yrs at ~8% over inflation and, double it to $4M, retire
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8/ also, arguably w more free time (in early retirement) you could spend less time working the primary job, working the side gigs, etc etc and take long daily walks, spend more time cooking healthy food, etc...and buy back some of the time traded away
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9/ > there's lots of things that money can do for me, the big one is "it can buy time not working" my work is fun enough but ... I've got other things I want to do (write books, visit friends, etc.)https://twitter.com/Kirsten3531/status/1480286430970761218 …
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10/ further reading on 4% withdrawl rate https://www.bogleheads.org/wiki/Safe_withdrawal_rates …
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