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Ask HN: After earning how much money are you planning to retire?

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Re: Ask HN: After earning how much money are you planning to retire?

#11

Post by baccredited »

IpV8 wrote: post #9
baccredited wrote: post #8

5.6MM based on spending 18,668/mo = 224K/yr 25 x 224k = 5.6MM assumptions: - withdraw 4% per yr - earn avg 7%+ per yr - inflation 3% Money will last forever and I will die with bigger balance than day I retire. http://www.mrmoneymustache.com/2012/01/13/the-shockingly-sim... ps. I will hit this number in 47 months. Here's how I know: https://lab.madfientist.com/

Wow thats a ton!!! I suppose you must live in a higher cost of living area than me.

Haha - family of 4. Expensive travel hobbies. Too much house. "Fatfire"

https://www.physicianonfire.com/fatfire/

Re: Ask HN: After earning how much money are you planning to retire?

#13

Post by dsacco »

baccredited wrote: post #8

5.6MM based on spending 18,668/mo = 224K/yr 25 x 224k = 5.6MM assumptions: - withdraw 4% per yr - earn avg 7%+ per yr - inflation 3% Money will last forever and I will die with bigger balance than day I retire. http://www.mrmoneymustache.com/2012/01/13/the-shockingly-sim... ps. I will hit this number in 47 months. Here's how I know: https://lab.madfientist.com/

FYI, that link requires a login. Is it supposed to be public?

Re: Ask HN: After earning how much money are you planning to retire?

#14

Post by baccredited »

dsacco wrote: post #13
baccredited wrote: post #8

5.6MM based on spending 18,668/mo = 224K/yr 25 x 224k = 5.6MM assumptions: - withdraw 4% per yr - earn avg 7%+ per yr - inflation 3% Money will last forever and I will die with bigger balance than day I retire. http://www.mrmoneymustache.com/2012/01/13/the-shockingly-sim... ps. I will hit this number in 47 months. Here's how I know: https://lab.madfientist.com/

FYI, that link requires a login. Is it supposed to be public?

Sorry - if you sign up this site will allow you to input your monthly savings, spending, and net worth. Then it will estimate the amount of time before you achieve Financial Independence. It is free. I'm a big fan.

https://lab.madfientist.com/pages/help

Re: Ask HN: After earning how much money are you planning to retire?

#16

Post by potta_coffee »

marcc wrote: post #12
potta_coffee wrote: post #5

I'm barely making it so retirement is not likely going to happen for me.

Why are you barely making it?

I'm not good at selling myself, I don't live in a tech-hub city, and I'm probably mediocre at my job. I feel good about the work I do and do have strengths but I'm not proving to be a competitive candidate for the work I want.

I'm spending my free time acquiring better skills so hopefully this will change for me.

Re: Ask HN: After earning how much money are you planning to retire?

#17

Post by shostack »

baccredited wrote: post #14
dsacco wrote: post #13

Earlier quoted context omitted.

FYI, that link requires a login. Is it supposed to be public?

Sorry - if you sign up this site will allow you to input your monthly savings, spending, and net worth. Then it will estimate the amount of time before you achieve Financial Independence. It is free. I'm a big fan. https://lab.madfientist.com/pages/help

Any recommendations for a free spreadsheet version or open source version that doesn't require giving my financial data to yet another 3rd party and tying it to a unique identifier via login?

Re: Ask HN: After earning how much money are you planning to retire?

#18

Post by jackgolding »

muzani wrote: post #3

I don't plan to retire. I had a nice half year break after selling my company. It's not that great. Productive engineer = happy engineer. I'd like to be a kind of tech monk. Someone who goes around on the bare minimum needed to survive, be away from the distractions of society, and polish my skills day after day. Every now and then I'd leave my monastery to rescue a half billion dollar project somewhere or to take do…

I have had 2 involuntary 3 month breaks between jobs and even though I was strapped for cash I really hated how much my mood fell apart without having the structure of work. I told myself I want to move away from having so much of my life's meaning defined by what work I do (while it's software for any enterprise anyway.) I'm at the stage now where I'm hoping to take off at least a month for travel next year.

Are there any learnings you had from your half a year break like this?

Re: Ask HN: After earning how much money are you planning to retire?

#19

Post by rwol »

shostack wrote: post #17
baccredited wrote: post #14

Earlier quoted context omitted.

Sorry - if you sign up this site will allow you to input your monthly savings, spending, and net worth. Then it will estimate the amount of time before you achieve Financial Independence. It is free. I'm a big fan. https://lab.madfientist.com/pages/help

Any recommendations for a free spreadsheet version or open source version that doesn't require giving my financial data to yet another 3rd party and tying it to a unique identifier via login?

Here's a login-less one that looks like it doesn't make any network calls with the data you enter: https://networthify.com/calculator/earlyretirement

Re: Ask HN: After earning how much money are you planning to retire?

#20

Post by fjsolwmv »

IpV8 wrote: post #9
baccredited wrote: post #8

5.6MM based on spending 18,668/mo = 224K/yr 25 x 224k = 5.6MM assumptions: - withdraw 4% per yr - earn avg 7%+ per yr - inflation 3% Money will last forever and I will die with bigger balance than day I retire. http://www.mrmoneymustache.com/2012/01/13/the-shockingly-sim... ps. I will hit this number in 47 months. Here's how I know: https://lab.madfientist.com/

Wow thats a ton!!! I suppose you must live in a higher cost of living area than me.

Higher cost of living personality, not area.
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