Comments on: Can I retire with 2 million dollars?

By: Great Retirement Calculators – The Great Office Escape

Great Retirement Calculators – The Great Office Escape — Fri, 17 Feb 2012 05:20:18 +0000

[...] Others suggest that you can make a break for it for as little as $50,000 saved, or that the amount isn’t important, but your standard of living is all that matters. [...]

By: Dragline

Dragline — Tue, 29 Nov 2011 17:48:30 +0000

Someone give me $2 mil and I’ll show you how it’s done.

By: FreeUrChains

FreeUrChains — Mon, 28 Nov 2011 21:14:35 +0000

Google Anwser, “I sleep late, fish a little, play with my children, take siesta with my wife, Maria, stroll into the village each evening where I sip wine and play guitar with my amigos, I have a full and busy life.”

By: FreeUrChains

FreeUrChains — Mon, 28 Nov 2011 20:35:03 +0000

Do you know of any online links to books to “Know more”, from medieval times- Modern times?

I think the Government burnt all these books that would have been in my local library.

Examples I am looking for; “How to build a log splitting machine with only trees and a stream…” ~Riverwood, Skyrim (Video game)

“How to make/generate free electricity with only a wood gasifier and 20 used DC Car Batteries…” ~The Colony, Discovery Channel

“How to make Self-sustaining Systems: 101 Textbook” (On Sale for $1,999,999.99!)

I didn’t see these anywhere in College libraries! Hmmm, wonder why?

By: michael61

michael61 — Mon, 28 Nov 2011 16:08:43 +0000

Actually $2,000,000 was about right for me. About 1/3 of that was from my own 401/IRA savings and balance from stock options that paid off big for me (thanks Apple!).

It helps that the house was paid off and the kids college has been paid for too.

I’m not sure retiring at 49 is extreme (at least as far as this web site is concerned), but when I quit my job earlier this year it was one for the best days of my life.

By: Bojan

Bojan — Mon, 28 Nov 2011 13:41:36 +0000

It’s kind of like that yahoo article that you brought up in one of your posts. I think it was titled “How to survive on 20,000 dollars a year” seems kind of funny when you read it from an early retirement perspective. Should be more like “How to live like a king on 20,000 dollars a year”.

By: gfdfgfdgdfgdfg

gfdfgfdgdfgdfg — Sat, 27 Aug 2011 22:13:35 +0000

so you automatically assume that someone typing a question like this into a search engine means they arent frugal and cant control spending ……howbout the extreme opposite how bout someone very frugal and being very cautious and looking at every angel before making a big decision

By: Jacob

Jacob — Sat, 18 Jun 2011 00:26:49 +0000

@breandakeels – This will give you an annual income of $300,000-400,000 or about 6-8 times what the average family spends each year. That’s a lot of money!

By: brendakeels

brendakeels — Sat, 18 Jun 2011 00:19:00 +0000

10 million is enough for me.

By: Andrew

Andrew — Wed, 01 Sep 2010 17:00:01 +0000

You hit the nail on the head Jacob! There is no single answer that can apply to each and every person. It involves a deep analysis of one’s age, spending habits, and responsibility. It’s possible that even $10 million isn’t enough to retire on. Great insight!

By: John

John — Tue, 31 Aug 2010 12:56:35 +0000

This article should be linked to the following …
http://tinyhouseblog.com/dome/that-roundhouse/#more-14389
Maybe you could move somewhere and build one of these. It’s a little extreme but works for them.

By: btbw2380

btbw2380 — Tue, 31 Aug 2010 12:46:29 +0000

@HSpencer – thank you for being one of the few to talk about SS as a retirement vehicle funded from our own labor. It sure isn’t a gift and it is integral part of a lot of people’s survival. For others, it is a significant part of retirement cash flow. 2k a month, adjusted for inflation is enormous – that’s the same as an 800k portfolio with a 3% withdrawl rate! Changes in SS seem to be inevitable but even cutting it in half (higly unlikely) still leaves a significant cash flow.

By: Photoguy

Photoguy — Tue, 31 Aug 2010 05:19:06 +0000

While I do think social security will be around for me, it’s so far off in the future that it has little effect on our planning. For really early retirees (think 20-30+ years before social security age), the net present value of the social income may not enough to make a difference in terms of portfolio planning.

By: HSpencer

HSpencer — Tue, 31 Aug 2010 01:27:10 +0000

I liked David Michael’s post.
You read everywhere about “Don’t count on Social Security in retirement!” “Social Security isn’t going to help you retire!” “Forget Social Security!”

Well, if your someone who $2,500 a month does not play a helping part in your retirement expenses, I guess that might be true. $2000-$2,500 is not small potatoes to this country boy. In fact, 2 grand a month will more than pay all my recurring living expenses.
I can see where “only” Social Security might cramp one a bit, sure would. I know of people living on as much as $650.00 a month in SS. We had those in our apartment complexes. If not for their SS, they would be in trouble.
So to the so called “Retirement Planners” I say Social Security is a lot of it. BTW: Social Security is not a gift, it was purchased with earnings dollars. Lots of them.
I am not arguing if SS is a good investment for retirement, I am saying it is a life saver for many.

By: Starshard0

Starshard0 — Tue, 31 Aug 2010 00:40:08 +0000

I have a hard time convincing people that I could retire on a quarter million dollars. These are the same people who tell me I have no life and should enjoy my life by spending more.

By: Molly On Money

Molly On Money — Tue, 31 Aug 2010 00:02:59 +0000

I saw the title of this post on my RSS feed and thought it was a bizarre topic for you.
I’m in totally with you on this one!

By: Jacob

Jacob — Sat, 15 Aug 2009 18:41:04 +0000

@H.G. – Could you tell us what you did or give some hints for other people to follow your model for early retirement?

By: H. G.

H. G. — Sat, 15 Aug 2009 18:37:42 +0000

I’ve been retired since I was 24. I had no money,just a business that pays me monthly while someone else runs it. There are more ways if you think outside of the box.

By: David Michael

David Michael — Thu, 25 Sep 2008 22:26:28 +0000

In a way, I have retired three times in my life with three different careers, taking time off between each one and going back to the university to get a new MA degree. I love learning and teaching and working with college students.

Having recently returned from teaching in the Middle East for four years, we are back once again in the USA and we now live and travel in a 27 foot Lazy Daze 1998 Motorhome. It’s about 200 sq.ft. and my wife and I love it because the design layout (MidBath) with dinette and kitchen in front, and living/sleeping room in the back surrounded by three huge windows. Previously we had a dream house of nearly 3000 sq ft and an office above the garage with an extra 800 sq.ft. I look back at this and realize that the house owned us. Krazy way to live.

We paid cash ($30,000) for the Lazy Daze motorhome, and have no debt. Our monthly expenses average about $2500 for everything during this first year although we expect it to drop to $2000 by January. It could be less but we travel with a canoe and kayak on top, recumbent bicycles on back, and do lots of hiking and biking. In other words, we love to have lots of outdoor fun and we are willing to pay extra to accomplish this.

We had saved $200-300,000 to be financially free and now we are on social security ($2000/month) and rarely touch our investments. We meet people all the time on the road who only live on $1500, although I read where the average cost is $3000 a month for most RVers. Forget the Wall Street types who say you need a million dollars. But…I recommend working long enough to qualify for social security (40 quarters) or sufficient investments to keep you going no matter what the global economy might be. There are lots of work kamper jobs around the country as you travel. We only expected to do this for two years but we are now thinking of going longer. We’re just getting into the routine of life on the road.

The key, as has been said constantly on this site, is to save, get out of debt, and have a plan. Good luck and good planning to all! David Michael

By: Alisa

Alisa — Sun, 29 Jun 2008 19:43:54 +0000

I never thought of asking myself that, for some reason. I think that is because I see how far I have to go and am focusing my energies on taking the steps to get there.

I just started My Stock Market Journey and I am finding it so very interesting. I am hoping to become better at making more informed investment decisions to better prepare not only for retirement but for the financial challenges that life throws our way.

Be well.