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SVTPerformance's Chain of Restaurants
Road Side Pub
How much money do you estimate it taking for you to never have to work again? Think the lottery.
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<blockquote data-quote="OETKB" data-source="post: 16217535" data-attributes="member: 187145"><p>Been pretty much retired five years. I was on straight commission the last 25 years and self employed the last half of that. Wife, two kids, house, educated the two kids, blah, blah.</p><p></p><p>In the early '90's I did some long term retirement planning based on expected inflation, expected return on my investments, and how much I planned to sock away every year. I figured I'd need about $1.8 million to retire, and I was saving 10-15% of my earnings every year while earning a very good living three out of every four years (my business was wildly cyclical). I kept rainy day cash tucked away for the bad years so I never dipped into retirement savings.</p><p></p><p>In conclusion, $1.8 million was not enough, and saving 10-15% a year was not enough. Fortunately, I had some unexpected things drop in my lap that saved my bacon, but whatever you are saving? Save more.</p></blockquote><p></p>
[QUOTE="OETKB, post: 16217535, member: 187145"] Been pretty much retired five years. I was on straight commission the last 25 years and self employed the last half of that. Wife, two kids, house, educated the two kids, blah, blah. In the early '90's I did some long term retirement planning based on expected inflation, expected return on my investments, and how much I planned to sock away every year. I figured I'd need about $1.8 million to retire, and I was saving 10-15% of my earnings every year while earning a very good living three out of every four years (my business was wildly cyclical). I kept rainy day cash tucked away for the bad years so I never dipped into retirement savings. In conclusion, $1.8 million was not enough, and saving 10-15% a year was not enough. Fortunately, I had some unexpected things drop in my lap that saved my bacon, but whatever you are saving? Save more. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
How much money do you estimate it taking for you to never have to work again? Think the lottery.
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