Quote:
Originally Posted by Stimpy the Kat
" The cost of cars are crazy today. My first car was a nissan pickup. I purchased it for $5,000. I drove it for twenty years. I sold it for $3,500. That was money well spent."
NICE.
My last car (in the U.K.) was a simply majestic thing - a 12 year old BMW740. £2200! Sold for what I paid for it a couple of years later.
She did love a bit of fuel, though.
On the subject of retirement, it is very daunting to see the figures required for a sustainable, comfortable lifestyle.
I’m 35. My planned retirement is in the U.K. and to do so, I would like an inflation-adjusted income of around £50,000. So, that’s around 2.2m nominal. Bearing in mind I’d like to retire early so I can enjoy it, I’ve got work to do! Yes, as per the OP, if I want a penny-pinching retirement of existence, a fraction of that would be fine. However, I want a couple of holidays, nice food, my motorbike, etc. Nothing extravagant, just normal stuff that we all work hard for.
I’m lucky in that I live as an expat in a low tax environment, without healthcare costs. I saved hard to buy a (modestly priced) house outright, so now I have to set to work on the retirement front.
While my pay is decent, with low tax and no healthcare costs (or kids) I’m able to squirrel cash away at a decent rate at the moment. That said, my retirement is ENTIRELY my responsibility, as having been an expat my whole adult life, I’ve got no state pension. What have when I retire is what I have to make work.
If I can achieve an annualised 6% across my investments, that should work out. That said, the best laid plans and all...
In summary, some may be able to retire at my age with 800k generating 30,000 a year, but unless they were extremely well paid, they’ve had a crap time getting there, and will likely have a slightly less-crap time after.
Play the hand you’ve got, and be responsible. But remember we likely have a spouse who we want to care for, we have interests and hobbies, and we are a long time dead.