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- LouNeko@lemmy.worldEnglish7 days
3 thoughts of school:
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Actually never working at all from my 30s onward, probably around 10 mil €.
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Quitting my job and getting into lazy investment to get a passive income, around 1.5 mil €.
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Playing into me being passively suicidal, if I loose my job and the number hits zero, I’m just killing myself. Technically that would also mean I don’t have to work again.
Number 3 is the most realistic one.
7 days- Playing into me being passively suicidal, if I loose my job and the number hits zero, I’m just killing myself. Technically that would also mean I don’t have to work again.
Dude, if you really want to do that, don’t waste your life pointlessly: rob a few banks and give the money to charities, Luigi a few billionaires, and play cat-and-mouse with the cops until they find you, and then make sure they suicide you, not you.
- LouNeko@lemmy.worldEnglish7 days
Nah man. Finding your peace in a forest, surrounded by nature with nothing to your name, that’s where it’s at.
I agree. I live out in the sticks myself - not with nothing to my name, but I certainly haven’t saved anything for old age - and I have few needs. But this is not the thing OP was envisioning. And while I think it’s a terrible idea on its face, I just remarked that they could off themselves more productively if that’s what they really wish.
- 7 days
Technically that would also mean I don’t have to work again.
But if you are dead, you will never feel comfortable again. Technically that does not fulfill OP’s question. 😉
- LouNeko@lemmy.worldEnglish7 days
What is more comfortable than returning to the void from whence we’ve came?
Literally everything in existence is more comforting and simultaneously discomforting than the nonexistent void.
Comfort, as well as discomfort, are things not conceivable nor experienced in the void of nonexistence, since, y’know, they don’t exist (along with everything else).
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- 7 days
1 million. Getting 3% back on investments will give me $30,000 a year. That far more than what I currently make. Also, less laundry, less eating out, and not burning so much fuel commuting to work and home.
Don’t forget inflation. That 30K isn’t going to buy you much in twenty years.
The general rule is that you need to cover inflation plus what you want to withdraw. That way your income goes up as inflation does.
- adarza@lemmy.caEnglish7 days
put the money in a standard index fund. take $25k per million out first year. increase that by 2.5 percent annually to account for inflation. should last indefinitely unless some moron in a white house blows up the country.
- 7 days
Impossible to answer with all this AI BS that’s about to implode & take down a significant chunk of the economy with it.
- 7 days
3million used to be the “fuck you” money estimate, but it’s probably more like 12 now, so, 12million dollars.
3 million USD. I’d still run my farm but I wouldn’t work my job job anymore. Just means I’d upscale the farm a small amount and give away a larger percentage of my products. 3 is genuinely low but I have very little debt as is and a reasonable lifestyle.
i retired at 35 and am now 60, i have nothing like what people say they need here. i have been investing since i was 19, i have a gf, a modest cottage in a small town in Australia, no debts and we travel thru SE Asia 8 months a year.
There’s people living on way less with really interesting lives out there who don’t work.
- 7 days
Enough to provide the USA median income of about $85K from investing it conservatively, while keeping up with inflation, plus a little cushion in case of emergencies or adverse economic conditions.
That’s about $10M.
- 7 days
You could withdraw 3% forever and should never run out. You really only need 2.8MM to live on that lifestyle.
- WhatAmLemmy@lemmy.worldEnglish7 days
This assumes that climate change, fascist kleptocracy, and a finite resource crunch doesn’t result in accelerated inflation for the rest of the century.
It also assumes that a diversified portfolio will achieve similar returns to the last 50 years.
I expect inflation to average 5+ % for the rest of the century.
- 7 days
Based on a very abbreviated look at his channel, I would argue that he does not. His investments are not conservative; the kind of investments he’s advocating require continual research and significant expertise or they become high-risk. That doesn’t count as “never working again”; it’s working as an investor with yourself as the client.
When I say “conservative”, I mean stick the money in an index fund or three and do nothing more than reinvest any returns over the median income on a good year so there’s some extra to take out in a bad year.
- one_old_coder@piefed.socialEnglish7 days
2 million euros would be enough for me to live comfortably for 50 years.
- 7 days
I’m shocked at the huge sums people are posting. I agree 2 million is loads. 600k for a house then the rest is 2k per month of disposable income for 60 years.
- forkDestroyer@infosec.pubEnglish7 days
600k for a house could also mean 15k in yearly taxes or more depending on where you live.
right, here in Australia, where I am annual property taxes are AUD$1800.
2 500 € per month multiplied by months of, say, 50 years.
2 500 € * 12 * 50 = 1 500 000 €.
Would not be a rich life, absolutely not, but would leave me with enough money to live even if the part I’d invest was to be lost.
The question is missing one key variable: how old are you?
Someone my age without that many years left and with the kids out of the house doesn’t need nearly as much as a 30-something with a family.
- 7 days
Roughly a million euros invested would barely keep me afloat. I doubt I’d still stop working though - it’s what keeps me relatively sane and forces me outside of the house.
My work is basically what I’d do with my free time anyway. If I had a mill in the bank, I’d just have better cameras and more woodworking tools than now, and worry slightly less about selling the products thereof, but I’m pretty frugal as it is so I don’t work much and have a pretty easy life already
- 7 days
2 million are enough for me.
But if you give me 5 million, I start working again by taking 2 out of the 5 and build a small business from it, just for fun.
- 7 days
1 million € would make for pretty comfortable living. Though I suppose I’d need to put it somewhat higher, because otherwise I’d be tempted to do part time work once in a while, so maybe 1.5 million.
