I just hit 3 Million and Put in to Retire

You are 100% correct. Many of us had many good years from this industry. Time to cut bait and succeed in another enjoyable profession. You can have my position.

 

3 million, if invested correctly, should generate 100k forever - without touching the principle. Invest it in strong dividend stocks and etfs and you will have a safe 3.5% yield. I am in a similar position but plan to work for another few years. No sense retiring with the pandemic when you can ’t really do anything. Give it a year and travel and everything will be back open - much more fulfilling time for me to retire. Best of luck to the original poster - enjoy the new chapter in your life that worked long and hard to achieve!

 

3M is not nearly enough. Good accomplishment. Not great. Don’t make the mistake of retiring. You will regret it.

 

It depends... on where you live, how you live, will you live much longer? There is no blanket answer but yes you should be able to start pulling 120k per year, no problem. I’d say if that fits and you’re good with it then congratulations. There are no guarantees in life and time is extremely valuable as you get older.

 

That’s my point. If you live in a Shithole 3rd World State like Mississippi, Alabama, Arkansas, or Louisiana where people consistently vote against their best economic interests and is last in everything then maybe. But who wants to spend their golden years there?

 

I disagree in that 120k would do quite well in most of the USA, not so much in west coast or parts of NE, but in general you can live quite well most anywhere, especially if house is paid for. It all depends, and besides you can always pick up some side income if needed. Time is priceless while you are younger and able to actually enjoy it. Golden years.... give me a break, I can get any kickass cable or streaming service available and it won’t really matter if I’m in Alabama or Arizona.

 

It's more than plenty. I retired in 2010 at age 55 with $1.5M plus my house all paid for. I'm 66 now and have $2.2 Million plus same house and spend only about $3,300/month. What Planet are you living ON Uranus

 

To each their own. Scottsdale Arizona or Alabama. Case closed

 

You’re not him.... and never will be.

 

socialist and commie bullshit.

 

I dont have 3 million yet but I do have about 1.5million and have two rental properties that are nearly paid off and netting me 6k per month. I'm 49 and I think I can retire by 55

 

WHO CARES

 

From the legendary Mark Hanna "you gotta pump those numbers up, those are rookie numbers".

You need more rental properties. more passive income and more net worth before you can retire.

 

$1.8m here and 10 more years of working. This doesn't include my wife's retirement.

 

excellent, kid you can stop now

 

life is about living! yet we have to save to really live. Prolific and Profound

 

would bet few reps have 1M

 

I have 700k in equities that will stay invested 70/30 for at least 10 more years then I will move it around to a safer percentage (may never really even need any of the money), 170K in cash, a government pension till death that nets 60K per year and zero debt. House paid off. I will retire by year end.

 

how do you have government pension in pharma? must have been there for years and years

 

Military