Quote:
Originally Posted by Nkc
Kinda missing the point here but I guess in OT, anything goes.
I understand that a lot of you might choose to work and may not see the word retirement as feasible in the near future. What I'm asking is what's the figure that would have you completely say, "FUCK IT, I'm done son"? Be it a lottery, inheritance, shit load of income, or even maybe just massive savings.
What I'm more interested in is the end game for everyone. Is it common practice to plan for it or just pointless to even think about unless a certain amount of annual income is made?
For those of you that actually plan/wish for a day that they won't have to work for money, what's the plan and what's the amount required?
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I believe the answers to these questions are quite complex and that's why you're not getting straight forward answers. Here are my simple answers.
"Fuck it, I'm done son" = 15 million now after taxes and shit. I can make that last until I'm at least 85.
I do think it is pointless to think about retirement unless you are making a certain annual income or you are extremely frugal. I have no idea what that annual income may be. There will be a lot of people that will never be able to retire or if they do will be in poverty/government assistance.
I'm in my mid 30's and think about retirement quite a bit. I would like to retire or semi retire by the time I'm in my mid to late 50's. I really don't have a solid number that I'm shooting for. There are just too many variables and years left to know what amount I need. My plan is to max out 401k and Roth IRA every year and be smart/satisfied with what I spend money on and save any excess.