Not that much. Maybe 100k income needed per year plus a good cushion? Oh and our mortgage would need to be paid off.

We make 450k HHI now but 80-90 percent of our income is spent on our mortgage, taxes, 529s, retirement savings and other savings. Folks may be surprised if they calculate what percentage they at spending on discretionary items.

Anonymous wrote:7mil for 200k interest yearly salary

+1

Anonymous wrote:Why retire? Warren Buffet hasn't retired.

Warren Buffet doesn't do anything he doesn't want to do.

Similarly, I don't want to keep doing this job forever, so I'll quit (retire) one day.

Also, you don't have the sense God have a corncob.

$4 million. That would spit out $160 k a year in income, plenty to live on after the kids' college is paid for.

With $2M in investments, we *could* retire now. That could give almost $80k in annual income. We'd have to acquire health insurance, but we could probably keep actual taxable income low enough to get some subsidies for that. The mortgage is paid off. We're both 40.

In reality, we won't stop working until we have at least $5M, but probably more like 8-10.

Why retire? Warren Buffet hasn't retired.

$5 million for both of us to retire early due to health care costs and mortgage, and $4 million to retire. We are at $2.5 and still have a mortgage so we will continue to show up to work for a while.

7 million.

Enough to live off of about $75k a year for the next 40 years. I can't do math, how much is that?

Anonymous wrote:Just want to give a reality check for DCUM folks

the average person will spend less than 1 milllion in their lifetime

Just something to think about

It depends on where you live and your health.

We are trying to retire early. Based on the projections, we will need around close to $3mil to do so because of the stupid healthcare costs, and that's the bare minimum to last us into our 80s if we are lucky and the stock market does well.

I would say $3.5 mil is comfortable at our age.

Anonymous wrote:Just want to give a reality check for DCUM folks

the average person will spend less than 1 milllion in their lifetime

Just something to think about

How is that possible? Even with an annual income of $50K, one would earn $1 million over just 20 years.

Just want to give a reality check for DCUM folks

the average person will spend less than 1 milllion in their lifetime

Just something to think about

Anonymous wrote:$20mm. I’ve put a lot of thought into it and that’s my number.

That would be my number as well, if I was 25 years old.
However, I’m 62 and, while I’d like $20mm, I could do very well on a lot less.
Highly successful people like (insert your favorite tycoon’s name here) could not live, or certainly wouldn’t want to live on a net worth of $20mm, but John Q. Public could do very well on it.

$20mm. I’ve put a lot of thought into it and that’s my number.

Anonymous wrote:And what's your personal situation (life stage / dependent kids etc)

have $3M now, both of us are 40 yo and working full-time, 2 young kids. all the 401ks, 529, vanguard, but I/O mortgage on the house which has 30% equity down. not expecting any inheritances.

would need $10M well-invested by age 60 to feel we could live off the annual interest and various retirement vehicles. we also expect high tax rates by then, higher interest rates, high inflation, and an even larger welfare economy in the U.S. and elsewhere. it won't be pretty, I feel like the best we can do for our kids is have well protected wealth. and even then the gov't will try to take half at each juncture. we suspect social security will be semi-bankrupt by the time we are 65 or will fully convert to a redistribution model for the poor from the working income people.