No. of Recommendations: 1
but what about less than
$500,00 for those who live below their means and don't need much?

I think a compromise approach might be best here. Have you considered working

Geez, I don't read up for 24 hours and I almost miss a great topic.

My plan is to "retire" on less than $500k, with a 5% or less withdrawl rate. For the last year and a half I have lived on $18k/year (I add a few $k on RE planning for Health Insurance). Granted it is in AZ, but I'm in a good area, on one of the nicer gold courses and with a mountian nearly in my backyard. I'm in a roomy apt, and buying a house doesn't make sense to me because I would like be free to move around a bit. One possibility would be "migrating' back and forth between southern AZ and Flagstaff, which is filled with tall pines, friendly people, and tons of trails to ride and run on.

But right now I am working on 2 different business plans to do on the side. Both would be work that I really enjoy, and that I would do even if it wasn't paid. But with taking in money from it I should easily be able to make it so I don't have to withdraw from my port, just letting in (hopefully) grow.

All of this is a little more risky, but since I have a field that I am an expert in and that I enjoy, I have a backup plan. But while I am young and single I plan to enjoy life, travel a bit, and pretty much just have a good time.

A couple of months after moving here to start my fulltime job, a mountainbiking partneer told me what he had thought up while younger. "Wouldn't it be cool if your retired years could be when you are young and can get out and enjoy life, and then work in your older years"

That has built on me a lot, and while I think there is still plenty to enjoy further in life, there are a lot of things I can do now that I won't be able to later, due to family, physical condition, or whatnot. I'm willing to take a bit more of a risk now (though I do have a good backup plan just in case) and plan to take the leap later this year :)


(of course now my job is going better, with better work and the IPO there's a chance I could stay around a bit (I'll give it 5%). But the commute home today was the worst, and I ended up pulling into a lot and going on a hour and a half hike/destress/think in the hills as a breather)
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