UnThreaded | Threaded | Whole Thread (15) | Ignore Thread Prev | Next
Author: mtbogre Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76406  
Subject: Re: ScaryStuff on Long-term Care Date: 3/2/2004 12:42 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
So, I agree with Stein, you can't retire at 45 with only 2 million in the bank, it's just not enough. If you're 55 however, it might be. And if you're 60 it probably will be. So, I think the point he was trying to make is that although 2 million sounds like a lot of bucks, as you pointed out, it's lower middle class if you live in NY or SF and let's hope you don't plan on a lot of travel and entertainment. :-)

I have to disagree with you both. Currently I am 34 and if there were 2M in my investment accounts I would retire today. Of primary concern is this arbitrary requirement for $80,000/ year?

My wife and I (and our 3 children) live comfortably on slightly more than $50,000 right now and we invest the remaining portion of our current income. If we didn't have work related expenses we could get by with even less. When the children move out in a few years our requirements go down even more.

Perhaps if I retired I wouldn't be able to travel the country in a $150,000 rolling mini-mansion with satellite TV and matching quad runners in the back. We would be able to tour the country in a more modest vehicle. We would also be able to fly to Europe and tour Europe by bicycle. We would also be young enough to really enjoy it.

I'll take (relative) youth over luxury any day.

-- Dennis
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (15) | Ignore Thread Prev | Next

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Macro Economics

The Story Behind the Story
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement