I retired at 58 with less than a million, although it was still about triple the amount I thought I "needed" to be comfortable. Seven years later, my investments have more than doubled and my withdrawal rate is negative. I could quadruple my spending and easily still be in SWR territory.
How much you "need" is more dependent on what is going on inside your head than what is going on in your life. People who think they need millions...generally don't. They could easily survive with a lot less if they had to. They just don't want to. And that's fine. The basic reason we work is to be able to afford the kind of life we want, and more power to anybody who ends up legitimately being able to do that at a high level. Need and want are different though, and we are all better off if we are able to keep them straight.
How much you "need" is more dependent on what is going on inside your head than what is going on in your life. People who think they need millions...generally don't. They could easily survive with a lot less if they had to. They just don't want to. And that's fine. The basic reason we work is to be able to afford the kind of life we want, and more power to anybody who ends up legitimately being able to do that at a high level. Need and want are different though, and we are all better off if we are able to keep them straight.
Statistics: Posted by TG2 — Tue Oct 08, 2024 10:15 pm