How much do you think is enough to retire?

[sendral_nakka]

3 minutes ago, Michaelbarbosa said:

agreed, 1-2 lakh but 20 yrs down the lane inflation adjusted what that figure would be ? 

Thats the inflation adjusted number Bro

[JohnSnow]

3 minutes ago, Michaelbarbosa said:

I might later put that into some business which can generate steady state income for me, with minimal work I am working on that in the background. 

I agree to the latter part as i love to do business

[JonSnowUSA]

54 minutes ago, JohnSnow said:

To all GC and USC uncles, how much do you think is enough to retire and whats your target 401k? 

I heard that once you go past retirement, they wont cover much of your medical conditions in your insurance and those costs will eat up your 401k.

So are you targeting 2 million? Or you wanna rely on any passive income sources?

To h1b uncles, GC kashtam emo ga, india pothe entha unte settle avvacchu ani feeling?

Pora chenakayya...

[Michaelbarbosa]

16 minutes ago, Catalpha said:

4% of 750k is 30k. This rule is assuming that you will spend 30k per year on rent/mortgage and expenses. But, if the COL living is higher, you can go up to a million, 4% of which is 40k per year that you spend on mortgage and expenses. At market rate, 7% return on investment will ensure that your 750k or 1M is not loosing value, since you're only taking out 4% every year. Ofcourse this is assuming you don't have an extravagant lifestyle, which if you do, forget about retirement. 

when you retire you should be focusing on minimalistic lifestyle, there is no need for 10000$ iphone( just saying by the time we retire iphone might be that expensive)

[JohnSnow]

Just now, sendral_nakka said:

Thats the inflation adjusted number Bro

1 lakh ippude thakkuva baa in india, forget after 20 yrs

[JohnSnow]

Just now, JonSnowUSA said:

Pora chenakayya...

ok uncle

[sendral_nakka]

1 minute ago, JohnSnow said:

Yes thats the thing to worry. 1 lakh in india can be finished in a blink of a second if you are brand conscious and buy a decent clothes for your family that month.

At retirement, no one expects you to be brand conscious

[JohnSnow]

Just now, Michaelbarbosa said:

when you retire you should be focusing on minimalistic lifestyle, there is no need for 10000$ iphone( just saying by the time we retire iphone might be that expensive)

Battalu vesukokunda thiragalantav naturists laga 

[Michaelbarbosa]

10 minutes ago, JohnSnow said:

Battalu vesukokunda thiragalantav naturists laga 

Oh   for thinking this as a serious thread in this junk db my apologies. you carry on

[Ravi860]

54 minutes ago, JohnSnow said:

Yearly 100k savings vesina 20 years ki 2 million avadhu. 

100k savings aa kastam... nijamga antha save cheyagaligithe devullu vallu

[JohnSnow]

2 minutes ago, Ravi860 said:

100k savings aa kastam... nijamga antha save cheyagaligithe devullu vallu

100k possible if you have 220k plus salary. i know my friends who are earning that much

[Ravi860]

8 minutes ago, JohnSnow said:

100k possible if you have 220k plus salary. i know my friends who are earning that much

bay area?

[JohnSnow]

1 minute ago, Ravi860 said:

bay area?

Seattle and myself around 200k in central in very small city. 

[Ravi860]

5 minutes ago, JohnSnow said:

Seattle and myself around 200k in central in very small city. 

good for you!

[Catalpha]

1 hour ago, JohnSnow said:

Yearly 100k savings vesina 20 years ki 2 million avadhu. 

100k savings per year, at 7% return will be 1.6 million in 10 years. You do the math. 

https://www.nerdwallet.com/banking/calculator/compound-interest-calculator