How much money should you save before quitting your job and focusing on your investment portfolio full-time?t. high 6 figs, almost $1M
>>58783568Depends where you live anon and what kind of life you want to live. I'm in the same predicament. I'm aiming for 2mil. At 1 mil I want to stop caring so much at work and about my "career". At 2 mil Ill really slow down, but free ride for the health care. At 4mil everyone can go fuck themselves.
>>58783568$4M if you live in the US$400k if you live in the EU
>>58784028Yeah, thinking of staying for the healthcare. Have you checked how much it is out of pocket? Or whether it's a good idea to change citizenships for that reason and lower taxes?>>58784039why 1/10th in the EU?
>>58783568Hopefully Vesta moonride allows me to do so before the initial plan had it
>>587835685-20 years of your salary depending on:>whether you're trading crypto or stocks>how good you are at trading>how good/shit your job is>how active/passive you want to take trades(daytrading, swing trading, or long term investing), etcI think most traders can make at least 30% a year if you have a few years of experience and trade crypto actively
>>587835682.5 million minimum, you can always put a quarter in btc or hidden gems like $kendu if you really want a shortcut, or a smart way to get out of here
Bump
>>58783568How old are you, anon, and do you plan on getting married/having kids?For someone in their young to mid 20's, $1M is probably enough to cash to safe investments, aim for a 7% yield, live on like $40-50k/year somewhere LCOL and continue to add $20-30k+ annually to the portfolio. Or, work a PT job to offset and grow the portfolio faster (my recommendation is this because you can really build $1M quickly if you're not really pulling much out to live off of and by 35/40 when you REALLY don't want to be working anymore you'll be set up for it legit).Families are very expensive. For a 2 child family I would plan on a minimum of $3M, $5M would be safe in a mid-HCOL city in the USA, but on $2M you could do LCOL.My advice as a 40 y/o millenial wagie is work as long as you can stomach it and just keep growing the folio until you feel you're really just at a breaking point. Nothing will build it up faster than simply continuing to invest, and it's WAY easier to do this when you're young and single. I make $200k/year but with 2 kids I save $1-4k/month depending on what unpredictable disasters happened in that month. Average probably $20k/year, which is not enough to get me to where I need to be to retire. If I invested more when I was young I probably would have $10M+ right now and wouldn't need to dread every morning. That being said, my youth was spent doing really cool stuff and although I was broke and it made my later life harder I don't think I'd trade it, so mileage can vary there.Good luck, anon.
>>58785990Thanks, anon and I'm 27, not married, no kids.Was running the numbers and seems $1M is enough somewhere LCOL, probably Thailand or EE. $2.5M seems like I'd hit a luxury life, better than now, but without working, and $5M would be the classical rich life traveling every month and having two places to live in the world. I'll probably still shoot for $10M, but not quite sure when I should quit my job and just live off a small bit of money instead. I'm thinking if I hit $1M and I lose my job, I would just call it good, but until then I'll probably keep working until $2.5M. As a compromise, might just take a lot more unpaid vacation time and use up all my paid sick days every year despite it looking suspicious.
>>58784028I'm right there with youI got a free car, a 20k pay raise, amazing Healthcare and 401k. About 700k in crypto. I think if I hit 2 or 3 mil I might drop out and live as freely as possible. Anything more and it's definite I'm buying a mansion and living free
>>58784041>why 1/10th in the EU?Do you really have to ask?
>>58784041Bongland?
>>58783568I only have around 500k portfolio at 24 but I got a new job that is around 500k tc. I recently moved to japan with my fiance and I want 3 kids. My current target is around 20 million, this should be sufficient for everyone assuming I die or something happens to me right?
