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Vtsax vs fxaix?
Anyone a CFP as a side hustle?
Are investment properties good for retirement?
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Subject Expert
Reduce your spending. Even in HCOL the McRib is very affordable.
A while back my income was significantly reduced due to me getting furloughed down to 3 days a week And I love it. I now have 4 day weekends. I’ve learned to live off of about $2K a month. I moved out to a coastal rural area, bought a cheap fixer-upper paid with cash, and now shop at the local thrift stores and farmers markets. I freaken LOVE life. There’s no keeping up with the Jonses in my community. I don’t plan on ever going back to the 40-50 hour work week. The freedom is incredible.
You can do whatever you want. But you have to want it.
You may have to be frugal and reduce the number of butlers you hire.
And empty the ashtray in the Cadillac instead of trading it in for a new one.
We gotta tax the rich more
Subject Expert
Just this guy I think
Rage bait
Subject Expert
Genuinely sad for you, must be tough not knowing how to live well without spending so much.
Good point, VP1. Tone deft at best. Definitely a 1% problem.
Agreed, investment mix & risk, and real of return.
I'm pretty sure you're just trolling the forum.
But on the 10% chance you're for real: buddy, for a rich guy you're bad at math. Zoom out. Even with extremely conservative 3% withdrawal rate, you're already in the green. You did it (or someone did it for you, but the sound of it).
Go live the life you want to. Very few people ever get the flexibility to do what you can do today.
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Thanks for sharing your brag.
How? My partner has been unemployed for 10 months and we live on about 60k a year in a tier 2 city?!?
By having $15M. FIRE isn’t about some set spending threshold. FIRE is mostly about spending below your means. More means = more spending
I don’t follow. Being conservative, you might need $20M to support retirement and maintain spending ($800k pre-tax and taxes on investments will run below income tax rates). So you’re like 2-3 years from retirement if you never save another penny and are unwilling to reduce spending.
That’s why Cash flowing assets > non cash flowing assets. Imagine getting 1M a year in cashflow, that would fix your issue and not take away from your NW either
I think you need a trustworthy financial advisor. $15M will yield you passive income from dividends or HYSA. I’d be happy to manage for you if I could! You’d have a lifetime income stream at your expenses, and never withdraw from your $15M, and your $15M would grow into perpetuity and you can leave it to your kids
You are tone deaf and deserve to go broke in retirement
Have you looked into Dave Ramseys babysteps? You have plenty of money. Is your home completely paid off? Do you spend 450k a year on candy and trinkets? High cost of living is real, but when I paid off the house that was an extra 60k a year in the Vanguard accounts. No credit cards, no house or car notes. Live frugally where possible. You should be able to comfortably live on the interest of 2-3m. All the best!
Can't imagine how you will manage having to live on such a measly income. Crazy how some people bring up a family on minimum wage lol.
I mean, you can pull $450k a year and your retirement will grow by 50% over a 30 year retirement. At 4% interest.
So 450k gets taxed to about 300k so we’d have to cut spending for sure.
how? tell us... inheritance, equity cash out?
Equity cash out
I'm here to assist if you wish 🤞
???
Is $15M pretax or post tax? There is a big difference especially in a high tax state like California.
401k is taxed. 2 incomes who contribute the max for 30 years (say retire at 52 years old) would have $4M total, which can double to $8M overt the next 10 years, right? The power of compounding.