User28823
do not go gentle into that good night
- Joined
- Aug 7, 2022
- Posts
- 9,874
- Reputation
- 14,680
The average person only needs one million dollars to retire.
How?
a) Pay off a mortgage in full (200-400k)
b) Invest the remainder in stock index funds that average a return of 10%, but only utilize 3-4% of the returns annually to pay off your living expenses. Remember, a mortgage is the biggest expense for most people, which you have now paid off, so your living expenses will have drastically been reduced.
c) Further reduce your spending habits during years of downturn where the stock market is underperforming. Also maintain a cash reserve in a high-yield savings account or short term bonds to buffer such times
d) Now you're retired, you don't have to work. Utilize your free time to do what you enjoy, and potentially profit off of it. Doesn't hurt to earn extra cash while also being able to enjoy the process
So what's to learn from all of this?
- Get yourself a high paying job or skills to acquire wealth early in life
- Invest early, once you surpass $100,000 your wealth increases drastically thanks to compounding interest
- Don't get yourself into situations you don't need, i.e. don't have kids if you don't want them
Realistically, this is possible for most people by the age of 30, but most people are:
- Lazy
- Low iq - but not in the sense that this limits your ability to make money. But in the sense that they have poor spending habits or get themselves into situations like having kids when you shouldn't. My dad is a low iq blue collar worker but easily makes 6 figures - jfl at not being able to make money on the internet in 2024 alone
Why did I make this post?
Mostly to remind myself of my own goals and that this is possible. But also to remind the neets on this forum that once their cash reserves run out (parents kick them out, parents die, etc.) they are fucked, and how if they had followed a plan like this they wouldn't be so fucked and likely have to rope. Do you really want to end up like those tragedies?
inb4:
- water (yet most people don't actually take any action to implement this)
- no retirement for your face (just hardmaxx faggot)
- but how will i fund my surgeries!!!! (retirement delayed by 1-5 years)
- life ends at 20 i'll just rope by then! (and then u wake up at 60 realizing u never had the balls to rope because ur natural instinct is to survive and u should have just done the bare minimum instead)
- making money is impossible (countered already)
- working is slavery!!!! (so is being broke and dependent on others to survive - that is not freedom)
How?
a) Pay off a mortgage in full (200-400k)
b) Invest the remainder in stock index funds that average a return of 10%, but only utilize 3-4% of the returns annually to pay off your living expenses. Remember, a mortgage is the biggest expense for most people, which you have now paid off, so your living expenses will have drastically been reduced.
c) Further reduce your spending habits during years of downturn where the stock market is underperforming. Also maintain a cash reserve in a high-yield savings account or short term bonds to buffer such times
d) Now you're retired, you don't have to work. Utilize your free time to do what you enjoy, and potentially profit off of it. Doesn't hurt to earn extra cash while also being able to enjoy the process
So what's to learn from all of this?
- Get yourself a high paying job or skills to acquire wealth early in life
- Invest early, once you surpass $100,000 your wealth increases drastically thanks to compounding interest
- Don't get yourself into situations you don't need, i.e. don't have kids if you don't want them
Realistically, this is possible for most people by the age of 30, but most people are:
- Lazy
- Low iq - but not in the sense that this limits your ability to make money. But in the sense that they have poor spending habits or get themselves into situations like having kids when you shouldn't. My dad is a low iq blue collar worker but easily makes 6 figures - jfl at not being able to make money on the internet in 2024 alone
Why did I make this post?
Mostly to remind myself of my own goals and that this is possible. But also to remind the neets on this forum that once their cash reserves run out (parents kick them out, parents die, etc.) they are fucked, and how if they had followed a plan like this they wouldn't be so fucked and likely have to rope. Do you really want to end up like those tragedies?
inb4:
- water (yet most people don't actually take any action to implement this)
- no retirement for your face (just hardmaxx faggot)
- but how will i fund my surgeries!!!! (retirement delayed by 1-5 years)
- life ends at 20 i'll just rope by then! (and then u wake up at 60 realizing u never had the balls to rope because ur natural instinct is to survive and u should have just done the bare minimum instead)
- making money is impossible (countered already)
- working is slavery!!!! (so is being broke and dependent on others to survive - that is not freedom)
