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That's exactly what retiring is, only with the hope you die before your funds run out.
by tthrowawayy 8y ago
That's exactly what retiring is, only with the hope you die before your funds run out.
- paulcole 8y agoIdeally you die with $0 left. As the philosopher Karl Pilkington once said, "The only reason you need money is in case you don't die today."
- icedchai 8y agoIt should be more than a "hope." If you really retire (and really plan to never work again), you should have some reasonable confidence that you will never run out of money. Having 25x to 30x current expenses saved and invested is a good starting point.
- paulcole 8y agoI did have ~40x my monthly expenses saved. I just spent them over the course of about 40 months! I had no illusions about not working again, but I did do what retired people do: whatever the heck I wanted!
- djloche 8y agox is usually years, not months. I think that 3-4 years is closer to a long sabbatical.
- paulcole 8y agoI don’t think that changes my original point that if you find freedom to do whatever you want “dull” then you are the problem.
- icedchai 8y agoSorry, I meant yearly expenses!!!!
- paulcole 8y agoI knew what you meant.