What is your "magic number" for retirement?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My "I'd walk away without another thought" number is $10M (single, no kids, 50s).

I won't get to 10M absent some kind of windfall, but will likely retire with $3-4M TSP, $1M other, fed pension in the 150-200 range, $1M house paid off.

How are you getting a Fed pension of $150-200k? Are you dual Feds?

Never mind, saw you are single. How are you getting $150-200K pension? Doctor?

I also wonder how you are getting 150-200K pension?

Some private companies still need offer pensions.

Yeah but PP mentioned a TSP account.

Which, not that I am reading about a single TSP with $3-4M, I am realizing PP is trolling.

Can’t 2 Feds do that?

1 fed, independent agency, advanced degree, very long tenure (at top of wage scale now), max tax deferred TSP contributions nearly all in equities for the whole time. TSP now nearing 3M. If retiring at 62, the internal pension calculator puts the pension in the 150-200 range. No, I'm not going to post my statements and W2. But it's possible and I am definitely not the only person in my agency in this situation.

[Anonymous]

12-14 million.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My "I'd walk away without another thought" number is $10M (single, no kids, 50s).

I won't get to 10M absent some kind of windfall, but will likely retire with $3-4M TSP, $1M other, fed pension in the 150-200 range, $1M house paid off.

How are you getting a Fed pension of $150-200k? Are you dual Feds?

Never mind, saw you are single. How are you getting $150-200K pension? Doctor?

I also wonder how you are getting 150-200K pension?

Some private companies still need offer pensions.

Yeah but PP mentioned a TSP account.

Which, not that I am reading about a single TSP with $3-4M, I am realizing PP is trolling.

Can’t 2 Feds do that?

1 fed, independent agency, advanced degree, very long tenure (at top of wage scale now), max tax deferred TSP contributions nearly all in equities for the whole time. TSP now nearing 3M. If retiring at 62, the internal pension calculator puts the pension in the 150-200 range. No, I'm not going to post my statements and W2. But it's possible and I am definitely not the only person in my agency in this situation.

Probably from the same agency but there longer. My TSP is good bit larger.

All equities all the time.

[Anonymous]

I figure I need $200k in today’s dollars so whatever $5-6M is worth when I retire. I’m on track for that, having just under $5M now at 55.

[Anonymous]

Anonymous wrote:You people are all crazy with your $10M numbers and such. I know a guy that made $100K last year selling options (covered calls and cash-secured puts) using around $400K of his capital.

He was laid off early and decided to look at options to make his money last longer. Now he just lives off the option income and doesn't even touch the other $1 million he had saved. In other words, he retired essentially off $400K, so I hope you $10 million posters *love* your jobs. Otherwise, you're throwing away your life for no reason.

Options aren't for everyone. And there is huge risk involved if you don't know what you're doing. The 2 people who I know who trade options are former Wall Street traders. The more successful works it full-time. The other, part time, and makes good money but a fraction. She doesn't want to be at the mercy of the screen all day long.

[Anonymous]

Anonymous wrote:As a ten year retiree I have found that excluding education costs we are spending a lot more now then when we were working even though we don’t have a mortgage. We travel a lot more both domestically and internationally and we’ve joined two clubs. The things we use to do ourselves like yard work now others do. We could be spending 50% more.

Thanks for sharing. This is my concern. We'll want to travel and eat out much more than we do now. Work and kids take up a lot of time that will need to be filled. Plus we're already approaching the point where we pay people to do things that we used to do. We recently hired landscapers for the first time ever. We used to paint rooms ourselves and back in our 30's we renovated a bathroom ourselves. Not sure if we'll be up for that next time round.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We’re mid-50s and our number is around $4M to generate income (with one modest pension & SS). This will probably take into our mid-60s to do, so we have to guess when we reach the breakpoint of enough money to support a lot of travel vs enough healthy years to actually do it.

So glad I never understood the "magic" of traveling. I'd much rather spend time in my nice house than a random village in Thailand.

Since this magical activity seems to be a significant cost in retirement for many, I also get to retire earlier. Yay, me!

I think of the world as a yard you can play in. I cannot relate to someone who is content to spend their life in one corner of the yard and not explore what else there is.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We’re mid-50s and our number is around $4M to generate income (with one modest pension & SS). This will probably take into our mid-60s to do, so we have to guess when we reach the breakpoint of enough money to support a lot of travel vs enough healthy years to actually do it.

So glad I never understood the "magic" of traveling. I'd much rather spend time in my nice house than a random village in Thailand.

Since this magical activity seems to be a significant cost in retirement for many, I also get to retire earlier. Yay, me!

I think of the world as a yard you can play in. I cannot relate to someone who is content to spend their life in one corner of the yard and not explore what else there is.

Different strokes for different folks. But air travel is one of the biggest contributors to global warming out there. The world may be your playground but it’s also where you eat breathe and sleep.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We’re mid-50s and our number is around $4M to generate income (with one modest pension & SS). This will probably take into our mid-60s to do, so we have to guess when we reach the breakpoint of enough money to support a lot of travel vs enough healthy years to actually do it.

So glad I never understood the "magic" of traveling. I'd much rather spend time in my nice house than a random village in Thailand.

Since this magical activity seems to be a significant cost in retirement for many, I also get to retire earlier. Yay, me!

I think of the world as a yard you can play in. I cannot relate to someone who is content to spend their life in one corner of the yard and not explore what else there is.

I can appreciate differences but you sound obnoxious.

Np

[Anonymous]

Anonymous wrote:

Anonymous wrote:We’re mid-50s and our number is around $4M to generate income (with one modest pension & SS). This will probably take into our mid-60s to do, so we have to guess when we reach the breakpoint of enough money to support a lot of travel vs enough healthy years to actually do it.

So glad I never understood the "magic" of traveling. I'd much rather spend time in my nice house than a random village in Thailand.

Since this magical activity seems to be a significant cost in retirement for many, I also get to retire earlier. Yay, me!

If you lived in a "random village in Thailand", your retirement costs would be way cheaper.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We’re mid-50s and our number is around $4M to generate income (with one modest pension & SS). This will probably take into our mid-60s to do, so we have to guess when we reach the breakpoint of enough money to support a lot of travel vs enough healthy years to actually do it.

So glad I never understood the "magic" of traveling. I'd much rather spend time in my nice house than a random village in Thailand.

Since this magical activity seems to be a significant cost in retirement for many, I also get to retire earlier. Yay, me!

I think of the world as a yard you can play in. I cannot relate to someone who is content to spend their life in one corner of the yard and not explore what else there is.

Different strokes for different folks. But air travel is one of the biggest contributors to global warming out there. The world may be your playground but it’s also where you eat breathe and sleep.

Please share with us everything else that you do because of your concern about global warming. Lol. Let me guess, nothing. You say that only because you can’t afford to travel.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We’re mid-50s and our number is around $4M to generate income (with one modest pension & SS). This will probably take into our mid-60s to do, so we have to guess when we reach the breakpoint of enough money to support a lot of travel vs enough healthy years to actually do it.

So glad I never understood the "magic" of traveling. I'd much rather spend time in my nice house than a random village in Thailand.

Since this magical activity seems to be a significant cost in retirement for many, I also get to retire earlier. Yay, me!

I think of the world as a yard you can play in. I cannot relate to someone who is content to spend their life in one corner of the yard and not explore what else there is.

Different strokes for different folks. But air travel is one of the biggest contributors to global warming out there. The world may be your playground but it’s also where you eat breathe and sleep.

Please share with us everything else that you do because of your concern about global warming. Lol. Let me guess, nothing. You say that only because you can’t afford to travel.

DP--huh? I too limit my air travel because of its environmental impact--not because of money. It's kind of basic responsibility 101 these days.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My "I'd walk away without another thought" number is $10M (single, no kids, 50s).

I won't get to 10M absent some kind of windfall, but will likely retire with $3-4M TSP, $1M other, fed pension in the 150-200 range, $1M house paid off.

How are you getting a Fed pension of $150-200k? Are you dual Feds?

Never mind, saw you are single. How are you getting $150-200K pension? Doctor?

I also wonder how you are getting 150-200K pension?

Some private companies still need offer pensions.

Yeah but PP mentioned a TSP account.

Which, not that I am reading about a single TSP with $3-4M, I am realizing PP is trolling.

Can’t 2 Feds do that?

1 fed, independent agency, advanced degree, very long tenure (at top of wage scale now), max tax deferred TSP contributions nearly all in equities for the whole time. TSP now nearing 3M. If retiring at 62, the internal pension calculator puts the pension in the 150-200 range. No, I'm not going to post my statements and W2. But it's possible and I am definitely not the only person in my agency in this situation.

What is an independent agency? Also, the all equities strategy is risky for those not early in their careers. 60/40 is the norm and I wouldn’t break too much with that unless I was very comfortable with risk.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We’re mid-50s and our number is around $4M to generate income (with one modest pension & SS). This will probably take into our mid-60s to do, so we have to guess when we reach the breakpoint of enough money to support a lot of travel vs enough healthy years to actually do it.

So glad I never understood the "magic" of traveling. I'd much rather spend time in my nice house than a random village in Thailand.

Since this magical activity seems to be a significant cost in retirement for many, I also get to retire earlier. Yay, me!

I think of the world as a yard you can play in. I cannot relate to someone who is content to spend their life in one corner of the yard and not explore what else there is.

Different strokes for different folks. But air travel is one of the biggest contributors to global warming out there. The world may be your playground but it’s also where you eat breathe and sleep.

Please share with us everything else that you do because of your concern about global warming. Lol. Let me guess, nothing. You say that only because you can’t afford to travel.

It’s so true. Private air travel puts out a ton of carbon emissions. It’s incredibly wasteful and selfish. And no, you cannot recycle your way out of this. One of the many reasons Harry and Meghan look ridiculous preaching about climate change is their use of private air. Same for Jeff Bezos and Lauren Sanchez. Next level materialism and waste.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We’re mid-50s and our number is around $4M to generate income (with one modest pension & SS). This will probably take into our mid-60s to do, so we have to guess when we reach the breakpoint of enough money to support a lot of travel vs enough healthy years to actually do it.

So glad I never understood the "magic" of traveling. I'd much rather spend time in my nice house than a random village in Thailand.

Since this magical activity seems to be a significant cost in retirement for many, I also get to retire earlier. Yay, me!

I think of the world as a yard you can play in. I cannot relate to someone who is content to spend their life in one corner of the yard and not explore what else there is.

Different strokes for different folks. But air travel is one of the biggest contributors to global warming out there. The world may be your playground but it’s also where you eat breathe and sleep.

Please share with us everything else that you do because of your concern about global warming. Lol. Let me guess, nothing. You say that only because you can’t afford to travel.

DP--huh? I too limit my air travel because of its environmental impact--not because of money. It's kind of basic responsibility 101 these days.

Np +1 we limit ourselves to one to two trips per year. I can’t get my head around people who fly everywhere on a whim.