CoconutLove@lemmy.today to Ask Lemmy@lemmy.world · 7 days agoWhat minimum amount of money in your bank account would make you feel comfortable never working again?message-squaremessage-square132linkfedilinkarrow-up1110arrow-down12
arrow-up1108arrow-down1message-squareWhat minimum amount of money in your bank account would make you feel comfortable never working again?CoconutLove@lemmy.today to Ask Lemmy@lemmy.world · 7 days agomessage-square132linkfedilink
minus-squareAva@piefed.blahaj.zonelinkfedilinkEnglisharrow-up4·7 days agoGeneral rule of thumb based on historical studies is that you can safely withdraw more like 3-4% to have a safe portfolio. Though, you can cheat this if you’re able to find more work or drastically reduce spending during recessions.
minus-squaremesa@piefed.sociallinkfedilinkEnglisharrow-up1·7 days agoVery true. I figure at that point costs would get reduced significantly as debt will be paid off.
General rule of thumb based on historical studies is that you can safely withdraw more like 3-4% to have a safe portfolio. Though, you can cheat this if you’re able to find more work or drastically reduce spending during recessions.
Very true. I figure at that point costs would get reduced significantly as debt will be paid off.