How much money do you need to retire at 40?
How much money do you need to retire at 40?
Jayden Flores
Colton Robinson
30 peso and 20 lira
Joshua Jackson
1 Bitcoin CASH
Alexander Lee
Annual expenditure x40
Caleb Rodriguez
idk probably $100k with the occasional bitcoin trade each quarter.
Leo Miller
Realistically 4 million
Chase Garcia
Is it really necessary to have that much when you can set up some passive income for less
Daniel Cooper
Depends on where you want to retire. Personally, I plan to retire to some SEA country, which means that I don't need much.
Justin Morales
Obviously no. 4 millions you could easily live like a king
Lucas Morris
At minimum you want to be earning 40k-50k a year. So you're looking at around 2 million as the point where you could just drop off the face of the world if you wanted to. Also note that your ability to earn money improves drastically as your net worth increases. Most people would become millionaires at some point in their life if they escaped living paycheck to paycheck. This is because money is a tool to work with. So even if you aren't necessarily retired, a person with a net worth of even 300k is going to be much stronger fiscally than the average wagey; even if 300k falls way short of what you need to escape.
Also remember that lines of credit will open up as your net worth and income increase. A millionaire earning 100k a year has the potential to buy several rental properties without making any adjustments to his current finances other than making the occasional payment for vacant homes. That's going to make someone's net worth explode, because they're essentially getting money for nothing.