Quote:
Originally Posted by fallen11
still have to make plans
overthink then wont be able to do it: probably because expectations and plans are not realistic.
example: i want to have $100m by 40 and retire. My income is $100k a year. No other assets no inheritance waiting for me.
Whats the chance? 0.00000000000000000000001% i think
A plan must be realistic for it to work.
Cut unnecessary spending
save up more, increase income
Load up on investments (research about it first)
Work out how much able to save per year, target age for retirement. Project savings by that age. Work out passive income by that age with that savings amt.
Agar agar might work too. But you will be leaving it to luck. And when luck goes the other way.....
from people i know, massive majority of them couldnt retire because their plans were unrealistic. Plans which they could almost never be able to achieve, thus never be able to retire too. Except the time comes when they are forced into retirement.
Also, dont shift goal posts. Shifting goal posts has no end and you will never reach your goal. The only time to shift goal post is that you realise your retirement plans were unrealistic to begin with.
|
Easy to overthink. Actually we don't really need much. Like everyday i spend less than $10. 1 week $70. 1 month $280. 1 year $3384. Including other expense like water, electricity, occasional entertainment and see doc say $10k p.a. is more than enough. But we overthink and say $10k p.a. where got enough. No $60k cannot retire. When we have $60k p.a. we say crazy. $60k where got enough. No $100k p.a. no need retire. Then you will never retire