How much do we really need in order to retire? I am 41 and have 2M in stocks/cash and fully own my apt (3M). I have no outstanding debt and ready to find an exit.

likefunnysmartupliftinghelpful
Posting as :
works at
You are currently posting as works at
Highlighted IconHIGHLIGHTED

I think you won

likefunnysmarthelpful

*advice

#HumbleBrag ain't it?

likefunnysmart

Be smart with expenses and save at every opportunity, do not splurge. You don’t need to upgrade your iPhone just because they have released a new one!

like
Recent IconRecent

What answer are you hoping to get here? You could easily retire now, if you want to move to a lower cost of living area and not be in your 3M apartment. Depends wildly on standard of living.

like

I agree here. Liquidate the apartment 5M in stocks and bonds. 4 pct of 5 million is 200k.
If you want some padding, Stick out work for few more years make 7M good to go.

If you savvy enough to make 2MM in stocks, you should be able to grow that yourself another 1MM or 2MM.

Then avoid gold diggers good to go

like

I am 35 I have 65 K cash that’s all am in trouble ?

likefunnyhelpful

Depending on the city you guys are in, seriously consider find a place that has solid if not spectacular future rental prospects. Rates are low, get a 15 year loan or if you are disciplined get a 30 year loan and make early principal payments, however the latter is easier said than done for most people. Having at least one place paid off in your mid 50s will help as you can convert that into rental income as you roll into retirement. If you are single it would highly help to marry someone making similar money or with more assets.

like

This is rad. Do you have kids?

likeuplifting

If I found someone from fishbowl- sure 😆

like

There is no mentioning of currency. It could be Korean Won or Indian Rupee

likefunny

Should have roughly 6-7M that is more liquid if you want to retire at say 65 and live OK. Its hard to tell because it wildly varies on lifestyle expectations and where you retire

likefunnyuplifting

IBM 3

Not sure about comfortable, but yes one could definitely live off 4k a month with 600k in investable assets.

The caveat is those assets would need to be aggressively invested. If they were conservatively invested and return let’s say 3% (and just keep up with inflation) one would likely run out of money in 20 years.

A lot here. Some thoughts:
A) $3M paid-off apartment. Could that $3M be working harder for you in the stock market (what’s the appreciation of real estate in your market vs. stock market return, taking into account tax deductions associated with home mortgages)?
B) How much you need is based on what you plan on spending after you retire. The 4% rule is still an acceptable practice. It actually leaves you with a natural increase as the market outperforms, Just rebalance, leverage index funds and make sure you always have a buffer amount in “protected”/safe/liquid state in case of a market downturn/recession.
On both the above, either get a financial advisor or do the math yourself.
C) I retired 3.5 years ago at 57 with $2.5M in brokerage/401k/IRA savings; after 2 years got bored and went back to work, because I actually enjoy what I do. But I have more control, because I know I can walk if I don’t like the job. I now have $4.2M saved (also made some good investment choices). Moral: make sure you have a plan for what you’ll do in your retirement. Traveling and loafing sounds appealing until you do it a couple years.

like

Investing in Nasdaq over that same time would’ve been 3.7M. Maybe the 4.2 includes some salary from working? Otherwise seems like risky investing for post-retirement...

like

I’m still stuck on ‘$3M apt’. 😳

likefunny

Wow! This is a dream for me at 31

likeuplifting

Same, lets get there!

like

OP, this is apparently a flex post. With the money you accumulate thus far, based on your rationale how you get here, you should’ve known better. Nothing wrong with finding outside validation though.

likesmartfunny

How much is your monthly expenses, times your life expectancy, factor into your potential growth from your stock options and then you can figure out a ballpark if you feel safe to retire.

Clout chasing much🤷‍♂️

likesmart

5M at 41. You good OP. I’d downsize, invest the remaining of $3M. And do what you want.

like

What was your strategy to be where you are financially?

likeuplifting

“Market timing” here likely means “I had investment capital at the beginning of the longest bull run in the history of the US stock market”. Even more so if OP was tech-focused

likeuplifting

You could retire right now. Get rid of the $3M apartment(what's are the monthly fees on that thing) and go on a speaking tour about how you got out of the rat race for the rest of your life.

likesmartfunny

OP define “retirement”. Having read your responses here, you seem to just want to be able to stop working crazy hours. You should be able to!

This will be an unpopular opinion but 41 is too early to “retire” and just travel the world / live the good life. If I did not need to spend day and night at a job I disliked to sustain my lifestyle and savings goals, I would take on more interesting, balanced, less lucrative opportunities! If I were in your financial position at 41 I would actively explore all the things I care about and try to make a difference in the world. I’d join or start a non-profit, id become a non-resident fellow at some university or think tank writing about the world, I would be involved in local or global public service, focus on one niche esoteric thing I’ve always loved and could not pursue professionally because it didn’t make financial sense but now it can. That’s just me but with your financial security I would be free to be who I want to be in life, no shackles.

like

Definitely agree. OP, do you have any interest in non-profit work? It’s all good if you don’t, but genuinely curious if this is an avenue you might want to pursue!

funny

curious how you were able to rack up the huge net worth at the age of 40. any tips?

like

I’ve been to well over 40+ and it is def not the same. I think you are either just going to resorts or you are not exploring the countries.

like
Post Photo
likefunny

A mix. Kept buying when some stocks dropped especially in 2007.

like

Stocks are the best. Nothing beats them long term. The only bad thing is if ones retirement occurs at a time when the market is down. Go long and wait. Also given your age if you let it ride it will grow to a point where you won’t have to worry about money ever. I hear this happens at $4M.

like

Related Posts

Health and benefits sector - how much should I aim for at Mercer for H&B consultant role with 4 YOE in regional brokerage? Washington DC area

like

Hello fishes

Being Scrum Master what are the requirements from
Capgemini or Clients to put me to Onsite role? (Either it may be Certifications, Qualifications, External factors or any challenges anybody faced surprisingly)

Please help me here to understand, as there's discussions going on and I don't want to let go this opportunity!Capgemini

I am looking for a job referral in python/Django domain especially wfh.
Yoe:- 8 months
Current CTC :- 9 lpa (on site)/5.6lpa (remote)

Post Photo
like

What do you think of United health group as an exit in the product space?

like

I have received an offer for Tech Consulting - CS&A department at Senior Consultant position.
Qs-
1. What exactly is CS&A?
2. With almost 7 years of experience (5 years relevant to the profile), is Senior Consultant position appropriate? If not, what should I ask for.

Thanks in advance.

like

Hi, I have received an offer in financial due diligence profile (KGS). Kindly provide insights on the career ahead and what could be exit opportunities. Thanks.

like

Hi all. How does one approach about a role change. I found out I got promoted to a senior support manager but the duties are the same as I do now and don’t consist of leadership responsibilities ( I work for a startup and was expecting this). How does one go about asking for role change in a different function of the company?

like

I’ve seen a couple posts lately with comments saying that people should not use a Roth 401k. Does the logic below capture the spirit of that concept?
1. Use trad. 401k to reduce taxable income now. Convert to trad. IRA once retired, then convert gradually to Roth IRA (ladder, SEPP, etc.) at lowest marginal tax rate
2. Use Roth IRA (and/or backdoor Roth) to take advantage of tax free growth and ability to withdraw principal early without penalty

like

Trying to pivot into marketing (my original passion) but heard I might have to lower my salary standards. Is it possible to get an entry experienced hire role for 70k+? Or are there any specific/similar roles where this would be more realistic? I live in New York by the way :)

like

Any tips on landing a full-time teaching job in middle school math? My applications are largely being ignored by hiring districts. I live in central CT.

like

Lots of talk about inflation, layoffs, hiring freezes, pay cuts, and stressful job shifts lately. Does anyone have any advice or encouragement to share for those who have been impacted or fear that they will be soon?

Currently on bench, any project
opportunities please let me know
Role - senior consultant
Skills: FSD with .net, angular 8+, sql,postgresql

Wondering how much other BCBAs are making. I heard asking for hourly is better and getting 80k is not that much for the position.

McK 🐠: can you pls confirm if McK is currently hiring at EM level in UAE? Also, pls let me know if you’d be open to referring - 10yoe in Strategy consulting with relevant ME public sector / mega projects experience. Thanks 🙏

like

Can people stop asking about life in “industry”? Name the role you’re thinking about and have questions on. Need specifics people, can’t read your mind!

Any experienced individuals looking for a referral to Grant Thornton, shoot me a DM and let me know!

funnylike

Please can anyone from Disney assist with a referral

like

I got a referral from someone at KPMG and used that link to apply for a position. How long does it typically take for a recruiter to reach out to you?

Hello,
Does anyone have leads on any associate brand strategist openings in Los Angeles?

like

Can somebody refer me to Oracle Finance Functional position in BNY Pune if any opportunities..

More Posts

My school has gotten a couple of projects funded this week.

Strategy at Heartbeat? I’m getting good vibes so far.

like

Interviewing at a couple of mega funds at the Sr. associate level and at GSAM/JPMAM at the VP level for product/client facing/distribution roles. Does anyone have any data points for what I should target comp look like? At a buy-side shop rn that notoriously underpays and don’t want to sell myself short . Tia

like

Quick temperature check: litigators, are you all underwater this month? This has been my busiest end of year season in actual years. I am getting slammed with expedited court deadlines from judges every, single, day. Clerks, what’s going on?! Send help.

like

Need guidance !
Current exp: 1.2 years in manual testing in a WITCH company.
Is it better to learn automation testing now and leverage the current experience or learn MERN stack development and start development journey?
Have 6 months to learn in both the scenarios.

like
like

Hi,
I have a couple of questions -
1. What is the average bonus pay for WM division ? I asked HR and he did not quote any range.
2. How long it takes to promote to 602 given an average to above average performer.
Thanks

like

Monday Wordle 527 3/6

🟩⬛⬛⬛🟨
🟩🟩⬛🟨⬛
🟩🟩🟩🟩🟩

likesmart

Any recommendations on how to prepare for a final behavioral interview with BCG?

like

Does anyone else feel that from a student personality and school philosophy perspective:
McKinsey ~ HBS
Stanford ~ BCG
Wharton ~ Bain
?

likefunny

TCS Hr revised my ctc to 27.5lpa from 24lpa for C3A band & shared ctc break up. I negotiated asking him to revise the fixed comp to 26lpa & JB. He said that he would try for fixed comp of 26lpa but no JB. Later he came back saying he can't get an approval for 28lpa & asking me if I'm okay with 24lpa & he would try to get 24lpa also if possible. Is he trying to get the ctc down or does he can't get approval? How do I get him to give the 27.5lpa break up offer? YOE:9y6m Role:Infra ManagerTata Cons

Post Photo
like

Hey, is anyone hiring an HR Program/Project Manager or lower? I’m an HR PMO and looking for a change. YOE 2.9. Remote/hybrid any would do.

like

UK Citizen based in Italy and looking to move in a Sales role ideally within SaaS in Tech, Fintech or Telco.

Experience in Ops & CS Management within VC backed start-ups, but fairly new to outbound sales.

Looking for a fully remote role and would love a referral.

Must ideally be in the CET timezone but I can be flexible with some overlap.

Anyone know for something?

like
like

Does LTI provide free food ?

like

Hi everyone!
I’m looking for job opportunities in Fintech/ InsurTech/ Tech in the US (NYC/ remote preferred).
I have 4+ years of Partnerships & Growth experience in FinTech and InsurTech, if your team/ company is hiring, I’d love to get connected and chat!

I am currently based in Singapore hoping to relocate to the US 🙌🏼

like

Do greeting exercise and take walk I find that listening to music help to relax

like

Hi everyone. I'm in the process of building a SaaS startup. Someone with SaaS experience has advice on marketing the product for B2B?

like

Integrated media planning/buying pro for immediate freelance opportunities. Director level so can easily level up or down. Ultimately looking for full time gig but until then...DM for credentials.

like

Additional Posts in Consulting

*meets every single job posting requirement*

"Upon review of your application, we regret to inform you that we are unable to move forward"

*meets 1/3 of the job requirements for a different company*

"Hi, I am a recruiter at xxxxx and I would love to set up some time to chat! " 🙃

likefunny

I might be asking a lot, but does anyone have experience transitioning to permanent remote positions in analytics or data science at 40 hrs/week hard stop? Looking for suggestions on how to do it/good companies.

I’m ready to get out of the city and start a little farm business on the side.

like

Was forced to valet check my carryon on Delta flight, which held my personal laptop in a padded area. Got home and discovered the screen is smashed. Is there any recourse here or are they not liable?

likesmart

After a year using my home office setup, especially the 27 inch monitor, how can I ever go back to the traveling life with tiny laptop screen? 😔

likesmart

Mckinsey 🐠 - joining the firm soon and wondering : where are you guys travelling and where are you based? And how flexible is the firm with travel? ( e.g : assume someone wants to try out a project in Africa or Asia, will they be able to find the opportunity? ) PS : Im in Europe

like

Any one interviewed at Deloitte for a PMO/Business Process role in Systems Engineering? What was the process like? This is for Consultant level.

like

Train or flight from newark to bos thursday ~5 pm?

I keep taking calls with companies because I get some actually good offers on LinkedIn (I work in a growing area of health tech) but I have no intention of switching companies at the moment. I like to test the market. What is the proper time to stop interviewing? I don’t want to waste anyone’s time but I’m also obviously passively willing to chat and look around at opportunities

like

Best consulting firms in Houston?
Looking for new opps

like

Best consulting firms in Nashville, TN besides the Big 4 and Accenture?

like

If anyone is looking for a referral to Point B, shoot me a DM, happy to help!

like

I seriously feel at my best if I get at least 8.5-9hrs of uninterrupted sleep. Can anyone else relate?

I just feel tired and depressed all the time on ~7hrs of sleep on a daily. Is consulting not for me?

like

I take the water bottle off the FC armrest (where Delta puts a bottle for each person), stuff my bottle in the seat back pocket, and the dude next to me proceeds to put his drink down in that spot!?!

like

I just signed an offer letter yesterday and today some guy called me about joining his project. Is that normal?

funnylike

CD or Bond - Have $100K lying around in savings. Should I go for a CD or Bond? I don't want to risk too much as I already have about $200k in stocks and IRA.

like

Please stop misspelling my name, it's literally in the email address you sent this to.

Sincerely,
It's not even that difficult to spell

likeuplifting

What are typical backgrounds for people who go into product management at FAANG companies?

like

What should I do if I’m working 60 billable hours but my director is telling me to bill 40? Scared he will fire me if I report this. Please help

likefunny

Have a buddy interviewing with Oliver Wyman for an entry level, right out of undergrad position. Any tips on R1 interview aside from general case prep/interview tips? Don’t know if there’s anything particular about OWs interviews

like

Any 🐠 fam have an ergonomic chair at home and have a recommendation? Currently looking at Steelcase “Think” and Knoll “Regeneration”? But also, can’t justify the cost. 😱

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Send download link to your phone

OR

Scan your QR code to download
Fishbowl app on your mobile

By continuing you agree to Terms of Use and Privacy Policy.

Messaging rates may apply

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal