Would you retire if you had $4M in savings?

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Yes I would. Retire from the corporate world. Do passion project, entrepreneurship, hobbies, philanthropy etc

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I1

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I’m at $1.1m all in, and still worked 70 hours last week. Money never sleeps.

likefunny

No inheritance. Saved a ton early on and got lucky with some good salary bumps/ bonuses in industry before D. Mostly made from trading/investments. Also flipped a house in NJ a couple years ago which netted a good chunk of change. Nothing too out of the ordinary I guess

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Nah.

$10M plus, maybe yes.

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Sure. Assuming 4% interest, that's $160k in annual income without touching the principal, which is in the ballpark of what I make today.

Even taking $1M out to build our forever house with no mortgage, 4% would result in $120k per year which would be sufficient till retirement funds kick in in ~20 years.

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Don't forget, with that $1mil house you no longer have to pay rent or mortgage, so your expenses are lower anyway.

I’m at 4m now and 37yo. It hasn’t made me want to retire, but it has made me stress less, focus on things in this job I really want to do, and know that I could quit any time and take a lower paid position elsewhere if I wanted.

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How much do D MDs make? Guessing you are not PP. I am entertaining a move...

Yes. Even if I had 6 kids, yes. Anyone who's not buying $1M houses and $150k cars should be able to.

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K2 - I’m Asian and my family works this way too!

No. $10M and primary residence paid.

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The $10M is ‘as a couple/family’ and includes home equity which should be $2-2.5M alone.

It’s all relative. $4M can be a lot or a little, depending on your circumstances and your goals. Same with Retirement. Some people can’t wait, some dread it.

If done correctly you can clearly live forever with $4M properly managed and an appropriate lifestyle.

likefunny

This can be awesome if they are bad at golfing and drink a lot, or awful if they are bad at drinking and play a lot of golf.

likefunny

I can’t believe a lot of you are finding $4M less. I don’t think I’ll every be able to save that much money in this lifetime.

But yes, depends on what kind of lifestyle do you live and how many people do you support. Still it’s a lot of money. You can surely afford to take a few years break.

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Only if you start at 22-23 and work in MC / TC and live in the US.

Jay Powell’s money printer go brrrrr and that 4m better be invested in FANGM stocks, otherwise it won’t be worth jack.

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D1 Deny all you want, but at least give him credit for inflating your 401k back to pre-Covid levels.

Depends on how old I was, what my family situation was, etc

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Yes. If invested and gaining 7% a year that’s $240k which is well above my means currently. Shit dump it in high div yield stocks if you really wanted to be safe

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Except you really want to take out at 3% max to account for inflation and risk.... so you're really looking at 120k.

Still, I would definitely retire in that scenario.

Yes. 1.5M for house, 2.5 for living expenses for next 3-4 decades.

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Yes, everything included. 4M is sufficient to buy my financial independence. Won’t sit at home,probably do some interesting work on side. But any $ more than 4M won’t add any value to my quality of life. I estimated this for dream neighbour hoods, 5-10m from downtown, great school district. Drake lives in one with 38M price tag- I don’t need that.

likesmart

We are 4. With $4M (I’m 40 now) I’m out. Move to Spain or Portugal and enjoy life.

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I would move back t india with 4 M and br extremely happy. Live on m FD interest😄

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Canada. USD - CAD conversation is high.

Hell yeah . I would probably start a company and invest with that amount

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Saw your other post MD1.Way to go!

At what age ?

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No

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I would get out of the BS rat race and build other streams of revenue with that money.

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Yes, in Southeast Asia. Probably an island in Thailand or the Philippines. I will just live off the interest and probably put it in QQQ ETF.

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