If you look at what financial advisors suggest, it is to take around 4% of your net worth per year as income. Some suggest a little more, some a little less, but that's the ballpark.
4% of $150k is 500 dollars a month. Would you retire on that? I wouldn't. Could you retire on that?
I know a guy who is retired and gets $600 a month Social Security. His heat is out right now, his furnace died. It's single digit temps right now, he's got space heaters going. He's trying to get the furnace fixed, if it has to be replaced, it's going to be $15k.
How is that going to happen? Me and his family probably, we've got him, but for people that don't have that?
No, people in the US don't retire early with $150k unless there is no other reasonable choice.
4% of $150k is 500 dollars a month. Would you retire on that? I wouldn't. Could you retire on that?
I know a guy who is retired and gets $600 a month Social Security. His heat is out right now, his furnace died. It's single digit temps right now, he's got space heaters going. He's trying to get the furnace fixed, if it has to be replaced, it's going to be $15k.
How is that going to happen? Me and his family probably, we've got him, but for people that don't have that?
No, people in the US don't retire early with $150k unless there is no other reasonable choice.