>>1120040>fucktarded mathSafe withdraw rate is 3%, the industry says 4% but "safe" is 3%. Assuming you keep a 3 year cash cushion and don't have to withdraw if the market tanks, you need about 35 times your yearly outlay in the stock market, or some combo of income (rental or otherwise) that's paid off, and investments that total that amount.
as an example
yearly outlay 50k = 4200 a month
Cash in bank account = 150k as an emergency fund so you don't have to sell properties or stock in a bad market if you need money
rental income monthly = 6000 a month from PAID OFF and managed by a company. Net value here in my area is about 1.5 million today.
retirement / stock portfolio 2 million with the goal to be never touch a dime of it.
Of the 6k in rental income a month 2k goes to upkeep and I live off the other 4k. That means I need 3-4 houses depending on the market, I'm planning on 4 because I don't think the crazy rent will continue in colorado forever.
That puts my net worth right about 4 million dollars for full financial independence. My target is about 14 years which will be shortly after I turn 40.
the idea that you need 15 million to live a 50k a year lifestyle is asinine. I live a very nice life in a high cost of living area for 50k a year and I still save 35-40% of my after tax income yearly.
Watch this video OP on mr money mustache:
https://www.youtube.com/watch?v=FEBe7ZEfORcWATCH THE FUCKING VIDEO.
