How much money does one need to retire to a very modest lifestyle?

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Anonymous
2017-01-24 06:24:15 Post No.
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Anonymous 2017-01-24 06:24:15 Post No. [Report]

How much money does one need to retire to a very modest lifestyle?

$2 million? That would keep you for twenty years if you lived very modestly, right?

Picture related, my spine might go before I get to retirement age.

Anonymous 2017-01-24 06:28:42 Post No.1753358
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Anonymous 2017-01-24 06:28:42 Post No.1753358 [Report]

>>1753354
400k at a 4% withdrawal rate will keep you going indefinitely

Anonymous 2017-01-24 06:31:22 Post No.1753361
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Anonymous 2017-01-24 06:31:22 Post No.1753361 [Report]

>>1753358
400k?

Anonymous 2017-01-24 06:32:01 Post No.1753363
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Anonymous 2017-01-24 06:32:01 Post No.1753363 [Report]

>>1753358

I think I understand what a 4% withdrawal rate is, but how often is it withdrawn from?

Li Sheng 2017-01-24 06:56:54 Post No.1753390
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Li Sheng 2017-01-24 06:56:54 Post No.1753390 [Report]

>>1753363
4% interest withdrawn yearly

Anonymous 2017-01-24 06:57:57 Post No.1753391
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Anonymous 2017-01-24 06:57:57 Post No.1753391 [Report]

>>1753390

Ah! That makes sense.

Anonymous 2017-01-24 07:23:21 Post No.1753409
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Anonymous 2017-01-24 07:23:21 Post No.1753409 [Report]

>>1753354
$10m

Anonymous 2017-01-24 07:25:36 Post No.1753411
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Anonymous 2017-01-24 07:25:36 Post No.1753411 [Report]

>>1753390
16k is not very much to live off of.

Even if you didn't have a car (no job), you're looking at barely 1300 a month before taxes.

Anonymous 2017-01-24 07:32:58 Post No.1753414
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Anonymous 2017-01-24 07:32:58 Post No.1753414 [Report]

>>1753411
Which is easily doable in a rural area with a home already paid off.

Anonymous 2017-01-24 07:34:06 Post No.1753416
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Anonymous 2017-01-24 07:34:06 Post No.1753416 [Report]

>>1753414
So by 400k, you actually mean... 500-600k

Anonymous 2017-01-24 01:35:03 Post No.1753697
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Anonymous 2017-01-24 01:35:03 Post No.1753697 [Report]

What's the yearly income you need? Give us numbers

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