I actually retired at age 40 with less than 700k. My wife and I own a house. We both moved back to Canada, so we don't worry about health care costs. And, we really don't spend money on much. I figured our food/living costs comes out to $1000 a month. We don't have kids or any other big expenses. We're pretty frugal too. Anyways, it all depends. Some will tell you 7 million. That's fucking absurd. If that was true, h…
Thanks for answering. Out of curiosity, did the 700k include the house? My company is quite small. It can maintain it and have a relatively stable income, but I'm not sure if I have the motivation to keep working on it due to other changes in my life.
Sorry for the late response. No, the 700k didn't. However, our house isn't worth much. We live in a rural part of Canada, and our house here was just under $70k. It's a pretty nice house too. You can even find cheaper houses, if you're willing to compromise a bit. It's not that far from Kelowna, which is a nicer area but over priced. In the States, I've lived in California (SF Bay Area) and Hawaii. Those places are WAY expensive. I would probably end up moving to a cheaper part of the country with cheaper housing. But, the health insurance thing would really worry me. Health care in the U.S. is dauntingly expensive. I know that private HMO insurance for people over 55 y.o. is over $10k a year, and that goes higher as one ages. Canada is why my wife and I are able to retire pretty young.