What's your FU money? When would you call it quits? Does age play a big role?
My age played a role for me-I said FU at 62 with $1.5M in the 401k. I walked into work on a Tuesday morning and my boss called me into his office to tell me he was assigning more work to me because another co-worker gave his notice on Monday. (I had already had a conversation with my financial advisor a few months earlier and he said "I'll type your resignation letter if you want").What's your FU money? When would you call it quits? Does age play a big role?
toucheI think, if your wife likes Hermes scarves, no amount of money is enough...
I might need some of the free "fuck you's" at end of this week.I have virtually unlimited "fuck you's" available free of charge right at this very moment!
Anybody who would like one (or even several!) lmk!
Thanks for sharing and congrats! Any regret making the move? Were you scared? Are you enjoying retirement? Do you wish you would've done it sooner?My age played a role for me-I said FU at 62 with $1.5M in the 401k. I walked into work on a Tuesday morning and my boss called me into his office to tell me he was assigning more work to me because another co-worker gave his notice on Monday. (I had already had a conversation with my financial advisor a few months earlier and he said "I'll type your resignation letter if you want").
Anyways, I told my boss-"nope I'm not taking any more work and as of today, I'm giving you 12 weeks notice". It was 12 weeks because I had to stay until the end of the calandar year to get my 401K match. Never looked back and this was a company I had worked 43 years for. Not even a hand shake from the division VP, no cake, no "good luck". Fuck you.
How are you so sure? Are you ready to be disappointed?at the moment, the goal is 1.6$ million
What does it mean to own the color blue? Explain me the reference.Own the color blue. Then you're not just rich, you're wealthy.
An old standup by Chris Rock, I cannot find a video with the specific line, but it comes after this one:How are you so sure? Are you ready to be disappointed?
What does it mean to own the color blue? Explain me the reference.
How are you so sure? Are you ready to be disappointed?
An old standup by Chris Rock, I cannot find a video with the specific line, but it comes after this one:
He goes on to say 'a wealthy person owns the color blue', or something to that effect.Uncensored - Chris Rock - Rich vs. Wealthy - Chris Rock: Never Scared (Video Clip) | Comedy Central US
Chris Rock believes there are no wealthy people of color in the U.S.www.cc.com
It's a lot funnier if you know the reference
I heard that Shaq joke. I get it now.An old standup by Chris Rock, I cannot find a video with the specific line, but it comes after this one:
He goes on to say 'a wealthy person owns the color blue', or something to that effect.Uncensored - Chris Rock - Rich vs. Wealthy - Chris Rock: Never Scared (Video Clip) | Comedy Central US
Chris Rock believes there are no wealthy people of color in the U.S.www.cc.com
It's a lot funnier if you know the reference
You have it down to day, time, and year. How are you so sure you'll have $1.67 million by then? Are you just stacking cash or are you invested in the market? If you're invested in the market, it can throw you a curveball and mess up even your best plans.my expenses are never more than 30$k a year, so it won't take much for me to retire
i figure throw in another 10$k/yr for healthcare, another 10$k/yr for family/misc expenses
50$k/yr at a %3 withdrawal rate is 1.67$ million
You have it down to day, time, and year. How are you so sure you'll have $1.67 million by then? Are you just stacking cash or are you invested in the market? If you're invested in the market, it can throw you a curveball and mess up even your best plans.
What if you can generate more than $50k/yr with just $1 million by taking little more risks? Would you say FU and retire years earlier with just $1 million? Or will try to hit that $1.67 million like you're trying for high score in a video game?
At certain point, doesn't it just become numbers on the screen and more of a game to beat the previous high score?
From reading your posts you seem more savvy than me on on financials, but it's (probably) not like that 1.67M is going to all of a sudden stop earning after retirement. So you might be able to retire before hitting that number.50$k/yr at a %3 withdrawal rate is 1.67$ million
Pretty much this.When I can replace my working incomes with investment income.
Hehe that clip was from '96 i think. Hilariously still relevant.He's forgetting the "Oprah" factor. She's a multi-billionaire (and has been for over a decade now), which moves her past rich and into "wealthy" status.
Tiffany & Co actually owns a shade of blue, though, so the joke makes sense.
it's (probably) not like that 1.67M is going to all of a sudden stop earning after retirement. So you might be able to retire before hitting that number.
You guys need to learn about cash secured OTM put options. Forget dividends and holding risky dividend stocks. That's old school of thought. I'm not totally against dividend stocks but to me holding too much dividend stocks also carry risks I don't want. I rather play options and let Theta be my friend. How often do you see casinos lose money? You can have dividend like income stream writing and selling put options. Then you basically act as the House at the casino.yeah i have thought about risking it, %3 is ridiculously low from everything i have read. but i expect the future century returns to be worse than that past century returns.
it might all be for nothing if the stress ends up killing me before i can retire. but then the nieces and nephews will get a bunch of money for their college and whatever else. they'd probably make better use of it than i ever would.
You guys need to learn about cash secured OTM put options. Forget dividends and holding risky dividend stocks. That's old school of thought. I'm not totally against dividend stocks but to me holding too much dividend stocks also carry risks I don't want. I rather play options and let Theta be my friend. How often do you see casinos lose money? You can have dividend like income stream writing and selling put options. Then you basically act as the House at the casino.