37 year old boomer here. I've managed to grow my portfolio to about $715,000. At this point it's all in BTC/ETH/USDC, with a little bit of LINK. I've already sold a little bit this cycle just to derisk. However, I just lost my job a month ago, and it's in a super niche field that has no real future prospects, as it's quickly disappearing to AI tools and being taken over by jeets at the same time. I don't have any other unique skills other than just general shit like being a manager of a small team and knowing how to use a computer. I'm in quite a unique situation, my wife and I own two homes overseas (no debt or mortgages) in a cheap country, where I only need $2k max per month to live comfy (but realistically I could probably live off of just $1k/ month if I had to). After selling and paying taxes, I'd probably have somewhere between 500k and 600k. My question is, is FIRE a realistic option for me? Could I live off of this shit indefinitely without waging? Could I have some big financial firm like Fidelity manage it for me, and would $16,000 - $24,000 in gains a year from that be realistic? Anybody have experience doing something similar?Thx bros
>>60984677are you mentally retardedyou can fire with 300K. even less if you move to SE Asia.and if you lose a lot of money, oh well. just hop back in the wage cage.
>>60984684Bruh I'm not the brightest but I'm not retarded either, I'm simply asking if $16,000 - $24,000 is realistic in terms of yearly return if I hand it over to a big firm to manage for me. We own the properties in another country, but it's not SEA. But still, I could live bare bones style on $1k, or comfy af on $2k a month.
>>60984677should be doable comfortably
>>60984677>I don't have any other unique skills other than just general shit like being a manager of a small teamLess common than you think. You have a massive safety net, just don't worry and make peace that you'll have to find a job that probably pays less than what you're used to, maybe needing to tighten your belt a bit. You're still a couple of good years away from breaking 7 figs even if you have to dip into your savings.>Could I live off of this shit indefinitely without waging?If you can manage to cut it down to 1k/month? Yes.Biggest factors would be how honest you just were and whether your wife is a drain or a safeguard of money.I wouldn't give my money to a firm if I were that old and already knew what to do with it, and you clearly do.
>>60984688invest in a broad market index fund, big firms dont outperform them and ask for more fees. do get some professional help though cause thats lots of money. just make it clear you wanna invest in a world index fund (something that tracks MSCI ACWI or FTSE All World). if you withdraw 3% of your total per year the chances are 0 you go broke unless the whole global financial system fails for good
>>60984696My wife is sort of a wonder woman. She owns her own small business and makes more than enough to support herself and then some. We keep our finances separate for the most part, but she is definitely not a drain on me. I actually went barebones for two months just to test and see how much I really need, and it ended up being about $750 a month. Now, that's not including any emergency expenses though, so I was just rounding it up to $1k.As for giving it to a firm, aside from getting lucky with crypto, I have more financial literacy than a normie, but I am by no means a /biz/ master. I sorta don't trust myself and I like the idea of having some expert manage it for me. But I'm willing to hear the downside of that.
>>60984677Jesus christ wtf OP educate yourself with Panzer's guidance
Same age but I lost everything in crypto over the years of doing dumb shit and now have only 2k to my name I’m wishing death on myself daily thinking of suicide most of the day so it could be a lot worse for you. I’d do anything to have a $700k safety net. Unfortunately for me my only realistic safety net is being dead since I won’t need money/resources anymore if I’m not alive.
>>60984677>37 year old boomerDo you even know what a fucking boomer is, you clown?
>>60984988>Newfag doesn't know what a 30 year old boomer is
>>60984711>>60984688You agmi. Now take the time to read the boogleheads guide or some similar book like the intelligent investor, Rick Ferri or the efficient frontier. The golden lesson is that the more you touch money, the more they lose value. With a good one or two index funds, a mix of bonds and equities, you should be able to withdraw 2/3% per year and have the capital increase in most years. Just be mindful of fees, diversification (in terms of asset correlation) and sharpe. NEVER, I REPEAT NEVER, day trade or get back to cryptos
>>60985034Thanks, I’ll look into those books. I also consider myself smart enough to know I’m too stupid to successfully time the market so I’m a HODLtard, but it helped me go from mid 5 figures to mid 6 figures without getting rekt. I feel like I’m right on the border of making it. I’m one strong move in crypto away from living the dream or a nightmare.
unironically rėďdit has better FIRE info than here. it's split across a few forums. you need lean fire and wherever their overseas knowledge is>Could I have some big financial firm like Fidelity manage it for mewew ladmost actively managed accounts are going to charge you 1pp which is a big nonopark it in voowithdraw (up to) 4% a yearkeep 6-24mo cash in hysain America you're going to be scroungingabroad you might make it> I actually went barebones for two months just to test and see how much I really need, and it ended up being about $750 a month.2x ityou're better off putting 300k in LINK, waiting for the 10x (2-5 years), and retiring comfortably in america
>>60984684No you can't fire with 300k, not even SE Asia, poor cope.OP, you need at least 2 million USD to be safe in the new world order.Poor fags can cope, but I can't see myself not being non-working without 2 million (from experience poor fags :) )
>>60984677If you are married and lose your job you are 100% fucked no matter how much you have or houses or blah blah blah. Just wait a few months and see what happens. You should be immediately putting everything into an irrevocable trust and battening the hatches for fucking war and the ass raping of your lifetime, because it’s over for you now. The minute you are not seen as being a happy slave for that bitch wife of yours is the moment she will fucking devastate you. Sell everything to crypto and disappear immediately.
>>60985242So you’re saying I should aim for $1500 a month? If we’re using traditional FIRE rules, that means a principal of $450,000, which I already have. But won’t it run out in 30 years or something? That would be a bitch to run out of money at 67.>>60985512Nah my wife think I already “have enough money” (that’s questionable) and wants me to pursue shit that makes me less miserable. My previous job was pretty soul-sucking so in a way I’m glad it’s over. But now I need to figure out how to make this last as long as possible.
>>60984677Typical Jew
>>60984711Based. I am wonder man. Have passive income that’s more than enough to live off of but my minimum expenses monthly are about $3500 currently. Think I can prune it down to like $2800 at lowest.
>>60984677Also I’m same age. Any crypto you sell you should put in Roth IRA 70% VTI 30% IBIT.
>>60984677You dont need to pay taxes below a certain treshold (the local poverty line).
>>60985634>So you’re saying I should aim for $1500 a month? not in a firm way. what i mean is that your 2 month trial is a gross underestimate of what you'll need, because the true costs aren't apparent until you run it for a few years, which is infeasible. car breaks down in year 3, medical disaster, unexpected travel...> But won’t it run out in 30 years or something? That would be a bitch to run out of money at 67.no. research 4% rule. then always live below your means. there is no retiring ever. your new job is budgeting. this applies to any amount of money from 0 to trillions>Nah my wife think I already “have enough money” (that’s questionable) and wants me to pursue shit that makes me less miserable.she is likely to be your biggest stressor. a guy can easily neet by himself (picrel). you can also neet quite well with a woman, but you will be a visible object at rest, and any time budgeting becomes an issue (it's always an issue, see above) the thought can occur "why doesn't he go back to work" (which is free to her btw) or it will occur to her family. just because you attain zen doesn't mean those around you give up on consoooooming
>>60985634also don't forget social securityi personally think you are cutting it too close, but i am not familiar with living in cheap countriesyou need about 3MM to make it in the US. below that you are effectively spending time coupon clipping, or living in undesirable areas, etc
underlying assumption is dangerous. index might not go up in the long run.
>>60986109Undesirable? Like innawoods in Maine?!?
>>60986226>Undesirable? Like innawoods in Maine?!?i mean, i'm speaking in shorthand herei wouldn't mind neeting solo thereaverage normie would consider innawoods with a family a concessionif you want to homestead and bust your ass you don't need FIRE
>>60986263But even a homestead requires to pay property tax and shit.
>>60986263Sounds awful.
>>60986288this is out of my wheelhousefarm often get favorable tax exemptionsincome-wise you get the first 120k cap gains tax free or soif you're going off grid i don't have much domain knowledge. řęðdit has good resources on lean fire, possibly on this as well
>>60986033Thanks for the insight. Honestly though my wife is a unicorn. We’ve been together for over 11 years and she’s been supportive. Even wants me to take time off. Neither of us have any financial trouble wt the moment. The only thing is what I’m going to do in the future.
I planned to buy 6 btc between 2022-2024. I would have had close to 700k.
>>60984677>other than just general shit like being a manager of a small team and knowing how to use a computerThese are useful skills. You can find another job with those. And jeets are going to get burned badly by Trump's new H-1B restrictions.I wouldn't even think of retiring at 37 on $700K.You should sell off enough of your portfolio that you have enough dollars to survive on for a year without work. Maybe wait until the end of October to sell, since it's normally a very good month for Bitcoin and by extension "crypto". I wouldn't leave everything sitting in risk assets; I went through a LOT of stress in 2018-9 and 2022-3 because I didn't unload enough to ride out the cryptowinters -- I ended up having to cash out a LOT more BTC than if I'd just said "you know what, it ALWAYS dumps massively a year and a half after the halving, I'm just going to cash out $40K right now when it's hitting all-time highs, just in case."
>>60989608Well, I'm not saying completely retire at 37. But what would be nice is if I can generate $15,000 - $20,000 a year on that principal. In my current situation, that would cover my daily life and enable me to go back to school to learn some new shit, network etc. But the whole retirement thing, as in never work again, I don't plan on that necessarily, but if that option were there, holy hell it would be a huge weight off of my chest.
>>60984993Theres no such thing, asshole
Stock trader here with a 77% win rate. Why can't you just invest 80% in the S&P 500 and 20% in bonds like the intelligent investor suggests? If SPY goes up 8% a year on 500,000 that's $25,000.
Its been a long time since I read the intelligent investor and I forgot most of it, but I'll tell you the general gist: buy the S&P 500 and hold. Don't look at it except once or twice a year, don't think about it. Also average in.
>>60989824that's really not what it says...it says to buy on fundamentals assets that are underpriced because of irrational market fluctuations. still good advice but where and how to apply it has changed since last century.>>buy the S&P 500 and holdgreat advice...once you have enough that 3-4% withdrawals is enough...or when you can hold at 10% annum to hit your number within an acceptable number of years. op would need to not touch his for 15 years to make it.at a meta level, what intelligent investor says is don't waste time on speculation. i find value investing to be a useful perspective in this sense but incomplete(it also says to hunt for deals/discount/margin of safety. note that s&p trades at a premium.)
>>60984677>700kinvest in dividend stocks you idiot. 1 oil&gas midstream1 electric1 reit or high dividend paying wild card
