Personal Investments • Re: Young, high net worth and potentially retiring

To be honest, I'm not sure this is the right forum for your situation, because I doubt the most relevant considerations are spreadsheet level math.

But my two cents: with your net worth, you have a wide range of options available to you including never thinking about working again, but I'm not sure committing to retirement at your age and lifestyle is one of them.

I'm going to go out on a limb and assume you live in Manhattan (financial services, $56k/yr apartment maintenance fees). That suggests three things to me

• Your expenses are relatively inelastic- i.e., you don't have a lot of options to comfortably downsize
• Your personal inflation rate is almost certainly different than the national average, and likely meaningfully higher over sustained periods of time
• Peer pressure drives spending more money rather than less

If I'm wrong about that, then as others say, the numbers probably work. Otherwise, you are exposed to both general and localized shocks- inflation, market downturns, massive assessments on your apartment, health events, etc. Given my assumptions, I'd probably want- I dunno- 2x what you have to be comfortable with never working again? Maybe a bit more?

But if, say, you want to retire and find a nice place in Jersey or Connecticut with good public schools? Sure; without doing the research, I'm guessing you can figure that out. Want to take a year or three for a midlife crisis to figure out what you want? Go for it; chances are very high you and your family will be just fine.

Statistics: Posted by mcw42 — Fri Dec 22, 2023 2:12 am

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