This is an annoying question but it reflects how I’m feeling, so please spare me the snark. I’m under 40, have a $20m nw, and am nervous about retiring early. There’s some deep psychological concerns I have about the market dipping or other expenses being higher or my kids needing something. Anyone else feel this way?

likefunny
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Look for a good psychiatrist it might help your case .

likeupliftingsmart

It's very believable to me. Grew up broke and occasionally hungry, growing a NW from scratch now up to ~150k and while my day-to-day financial anxiety is way down, the fear of the big thing that could wipe me out has not reduced even slightly. I think the former is fixable by building NW but the latter is never satisfied, no matter how much you have

like

you need a good financial advisor and therapist. do those 2 things and you'll be golden!

like

Honestly, worrying is a state of mind and you might feel this way even if you have over 100M. I never imagined crossing 1M a few years, yet here I am wondering if it’s enough and how I can make more. Gratitude, remembering that you’re incredibly blessed to be in this position, and finding ways to uplift others is the only way.

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I think you’re right. It’s not a function of the number. It’s a function of my mentality. And working on that is probably they key

I can’t say I’ve shared the feeling of having $20m nw, but i know the feeling of being anxious about a big risky lifestyle change. Would it help to think of it as a trial basis? You’re young. If you retire and then your financial situation looks like it will change, you can go back to work before the funds are too far depleted

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some tahp-sheff trollin, dis

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Are you crazy?

Of course $20m isn’t enough to retire so young.

Another 10 years should see you at $50m. Then you can start to think seriously about whether you’re ready to retire.

likefunny

Thanks Suze.

uplifting

Oh yeah for sure. If I retire, how will I provide value to the shareholders?

funny

I mean maybe you don’t need to retire? Maybe you like your job? Or haven’t figured out what you’ll do with your time?

like

This is helpful. I probably need something less time consuming to do with my time

like

Can you please share how you got to $20 NW under 40? Incredible.

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Lots of compound interest off a small savings amount and some lucky stocks

funny

If you feel that way, don’t retire until you have the amount needed that you’ve currently calculated in less volatile investments and have a substantial additional savings. Hopefully you don’t need anywhere near $20M and already have more than enough to weather any volatility or unforeseen expenses.

Just diversify and you’re fine.

How much do you spend every year?

So with taxes and so on call it $500k.

So you would be retiring at a 2.5% WR.

If you have a diverse, strategically allocated portfolio with a responsible allocation that should be very safe.

And at such a high spending number you have plenty of room to cut if needed (unlikely).

I wouldn't worry.

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