I won't. While monetary benefits are just one way of seeing work, I just love working. And I don't think I'll be happy without doing what I love. So retirement isn't my cup of coffee. :)
In Germany you would have to live VERY frugally and/or be very lucky with your investments to retire on that money. That is, if you still expect to live for quite a few decades.
There is the 4% rule, popular in the FIRE movement (Financially Independent, Retire Early). It is a rule of thumb of how much you can withdraw from your portfolio per year, taking into account future returns and a 30-year retirement horizon.
So, roughly, will you get by with $40,000/year? If so... maybe you could?
Even within the same country, if you live in a big city versus countryside the cost of living is vastly different. So your milage may vary.
Report
@stpe this makes a lot of sense. I agree it’s also hugely dependent on the country one is in
No. Definitely not with a family in the US.
I tried "retiring" for a year about 6 years ago, and living off the income of my digital products. I realized it is more exciting to be building.
Report
@bryanmcanulty definitely more exciting to be building for sure.
Report
in the Philippines, YES!
Report
@novie_dizon I agree. It’s gonna be more than enough to live decently
Report
$1M is where you can start scaling, but not to retire!
Replies
Wylo
Promomix
QuikFlow
AlphaSquared
Hue Log
Heights Platform