I did the math, and if I suddenly gained 980,000 I could continue living my current lifestyle on 2% interest my current bank has.
If I had 1,500,000 I could live a comfortable lifestyle just off the interest.
The downside is, I’d lose my free health insurance. And my last statement, not bill, showed my treatments without insurance would have cost about 1 million dollars for the 3 month quarter.
This is why I always say if I ever got lucky enough to win big on the lottery, I wouldn’t actually stop working. Not completely.
Get a trade doing something you think you’d enjoy, become self employed, and just do it - up to you whether or not you charge for your services. I’d maybe charge rates just low enough to be believable. Maybe.
That would only generate about $25k/yr without touching the principle or being outpaced by inflation. You can take 4% but you’d run out of money in about 30 years and $40k would be worth roughly half. But if you can live off $25k you’re good to go!
Okay maybe bit more than 1 million but I wouldn’t need much to live comfortable. Hell I watch a guys YouTube who travels the country in a van seeing amazing sites and living it up. And he does this all on a budget of like 1000 a month.
He traveled all the way to Alaska and it was an amazing playlist. Makes the life I am living seem so pathetic.
I used to watch Cheap RV Living with Bob Wells for years. I even ended up living in my RV for about 4 years while gainfully employed. I will say what you don’t appreciate from YouTube is the sheer boredom day to day and unexpected repairs are brutal. Mechanics want like $100-$250/hr for labor, plus you have parts.
Not to mention stealth camping has never felt completely comfortable to me and getting called out of my car once at gun point by the local sheriffs office was enough to chase me into KOAs.
I own RV park and have lived in a RV myself for years. But it was always in RV Parks. I now own a RV repair business and know all about the repairs needed for an RV. Good thing I can do those repairs myself.
I agree just parking out middle of nowhere is not something I could always get behind?
Sure like to hear the story behind that. Cops would scare me more that a robber.
I used to know a crustpunk that did the beet harvest every year. He’d live like a king for a few months and was homeless the rest of the time hopping trains and shit.
Well one my kids keep me here, and my house, wife and the pets. But maybe just maybe kids about to be grown, then going try talk wife into that new life.
Got figure the guy living out of van as only himself and well he does have a dog. So he can get really lonely I am sure. And it’s not the life everyone can do. Takes dedication and you have to learn how to live the minimalist lifestyle.
Also if you don’t have all the money or large following on YouTube along with sponsors, you have to find a way to make a living on the road. But it could be done and probably be a better life then most of us are living right now.
Then again maybe being a nomad sucks and I have rose color glasses on, but damn he makes it look cool.
Well nobody is saying you can’t do other things too. Maybe youtube wouldn’t provide you stability, so you never get started.
But now with basic bills paid, maybe you start youtube, and by the end of the year, you have $100 a month from youtube. And then maybe by the end of 5 years, you have $1,000 a month extra. And now you have your stable income from the interest that’s 25k a year, PLUS the extra $1,000 a month from youtube. And instead of doing something you hate, you’re doing something you love.
Or maybe it’s not youtube. Maybe you start a band. Or maybe you make independant movies. Or maybe you do puppet shows at the library. Whatever man! The main point is, most of us do our jobs because we’re slaves to the system. We’re not doing what we love because we love it. We’re doing it because we have to.
I used Kitsap as an example. I’ve noticed that plenty of people will say “Seattle” but actually live in a town well outside the city with far lower housing costs.
We live inside the city limits in a larger house with a relatively hefty mortgage that accounts for the majority of our annual costs, despite the good APR. The biannual chemotherapy is a similar majority of the medical bills.
Could probably make it work with less, but that’s the shortfall from my back-of-the envelope math. Actually just started working with a financial advisor to figure out how to make it happen.
We’re inside the Seattle limits. I highly recommend getting a financial advisor. Ours charges 1% of the fund as an annual fee, and consistently grows it by 8-10%/year, which is better than I could do and zero effort. Our fund is actually getting bigger even though we live off the income + SS. The goal is to give our daughters a nice inheritance, not hand it over to some corporate nursing home so we can sit for an extra couple years waiting to die. If that choice ever comes up I’ll be off to Switzerland to use one of their nighty-night nitrogen pods, which are legal there but not here in Freedomland. Anyway good luck!
I’m still a long way from being able to dip into SS, but my partner would at least qualify for Medicare within the next decade, which would help significantly.
The mortgage should be paid off just a few months after I qualify for SS, so that would definitely help me coast at that point, but I aim to exit the grind far before then.
Somebody please give me $3.7MM so I can retire and be this man
Right? So many billionaires wouldn’t even realize it was missing. Just give me $4M so I can fuck off.
I did the math, and if I suddenly gained 980,000 I could continue living my current lifestyle on 2% interest my current bank has.
If I had 1,500,000 I could live a comfortable lifestyle just off the interest.
The downside is, I’d lose my free health insurance. And my last statement, not bill, showed my treatments without insurance would have cost about 1 million dollars for the 3 month quarter.
This is why I always say if I ever got lucky enough to win big on the lottery, I wouldn’t actually stop working. Not completely.
Get a trade doing something you think you’d enjoy, become self employed, and just do it - up to you whether or not you charge for your services. I’d maybe charge rates just low enough to be believable. Maybe.
If you’ve got that much cash, move to a first world country
Give me 1MM and I can be this man easy.
That would only generate about $25k/yr without touching the principle or being outpaced by inflation. You can take 4% but you’d run out of money in about 30 years and $40k would be worth roughly half. But if you can live off $25k you’re good to go!
Okay maybe bit more than 1 million but I wouldn’t need much to live comfortable. Hell I watch a guys YouTube who travels the country in a van seeing amazing sites and living it up. And he does this all on a budget of like 1000 a month.
He traveled all the way to Alaska and it was an amazing playlist. Makes the life I am living seem so pathetic.
I used to watch Cheap RV Living with Bob Wells for years. I even ended up living in my RV for about 4 years while gainfully employed. I will say what you don’t appreciate from YouTube is the sheer boredom day to day and unexpected repairs are brutal. Mechanics want like $100-$250/hr for labor, plus you have parts.
Not to mention stealth camping has never felt completely comfortable to me and getting called out of my car once at gun point by the local sheriffs office was enough to chase me into KOAs.
I own RV park and have lived in a RV myself for years. But it was always in RV Parks. I now own a RV repair business and know all about the repairs needed for an RV. Good thing I can do those repairs myself.
I agree just parking out middle of nowhere is not something I could always get behind?
Sure like to hear the story behind that. Cops would scare me more that a robber.
Is that the dude that does the beet harvest once a year?
I used to know a crustpunk that did the beet harvest every year. He’d live like a king for a few months and was homeless the rest of the time hopping trains and shit.
I onced watch a guys stream that would hitch hike around the country. He once jumped trains as well.
Huh no don’t know that one.
This is the one I follow: https://youtube.com/@trentthetraveler?feature=shared
the worst part about it is it’s so cheap so why the fuck am I not doing that?
Well one my kids keep me here, and my house, wife and the pets. But maybe just maybe kids about to be grown, then going try talk wife into that new life.
Got figure the guy living out of van as only himself and well he does have a dog. So he can get really lonely I am sure. And it’s not the life everyone can do. Takes dedication and you have to learn how to live the minimalist lifestyle.
Also if you don’t have all the money or large following on YouTube along with sponsors, you have to find a way to make a living on the road. But it could be done and probably be a better life then most of us are living right now.
Then again maybe being a nomad sucks and I have rose color glasses on, but damn he makes it look cool.
Check it out for yourself: https://youtube.com/@trentthetraveler?feature=shared
Highly suggest his Great Alaska Adventure Playlist. Definitely something I want to try this summer.
Well nobody is saying you can’t do other things too. Maybe youtube wouldn’t provide you stability, so you never get started.
But now with basic bills paid, maybe you start youtube, and by the end of the year, you have $100 a month from youtube. And then maybe by the end of 5 years, you have $1,000 a month extra. And now you have your stable income from the interest that’s 25k a year, PLUS the extra $1,000 a month from youtube. And instead of doing something you hate, you’re doing something you love.
Or maybe it’s not youtube. Maybe you start a band. Or maybe you make independant movies. Or maybe you do puppet shows at the library. Whatever man! The main point is, most of us do our jobs because we’re slaves to the system. We’re not doing what we love because we love it. We’re doing it because we have to.
Seems high. My wife and I are retired in Seattle with about half that net worth, which includes our home value (which isn’t even paid off).
In Seattle, or in Kitsap county? I’m also guessing that you don’t have massive medical bills.
Seattle not Kitsap, no massive med bills.
I used Kitsap as an example. I’ve noticed that plenty of people will say “Seattle” but actually live in a town well outside the city with far lower housing costs.
We live inside the city limits in a larger house with a relatively hefty mortgage that accounts for the majority of our annual costs, despite the good APR. The biannual chemotherapy is a similar majority of the medical bills.
Could probably make it work with less, but that’s the shortfall from my back-of-the envelope math. Actually just started working with a financial advisor to figure out how to make it happen.
We’re inside the Seattle limits. I highly recommend getting a financial advisor. Ours charges 1% of the fund as an annual fee, and consistently grows it by 8-10%/year, which is better than I could do and zero effort. Our fund is actually getting bigger even though we live off the income + SS. The goal is to give our daughters a nice inheritance, not hand it over to some corporate nursing home so we can sit for an extra couple years waiting to die. If that choice ever comes up I’ll be off to Switzerland to use one of their nighty-night nitrogen pods, which are legal there but not here in Freedomland. Anyway good luck!
I’m still a long way from being able to dip into SS, but my partner would at least qualify for Medicare within the next decade, which would help significantly.
The mortgage should be paid off just a few months after I qualify for SS, so that would definitely help me coast at that point, but I aim to exit the grind far before then.