Retire with $50k a year or work?

[Misclife333]

Hey misc srs question. I’m spending $1200 on food and cigarettes being whatever monthly. Was thinking of cooking food at home and maybe buying a house soon. Take care of pets. Travel after saving etc. I’m 34 years old. I get pension from the military lifetime.

Other path is I want to make more money and to stimulate my mind working so I can buy a dream house and car one day. What path should I chose and ignore retirement?

[dingler]

Buy a farm in Missouri. Spend your days working towards self sufficiency.

[StainlesSon]

Buy a farm in Missouri. Spend your days working towards self sufficiency.

that's unironically my plan, not in the us tho, but, yeah.

[wtfLandlord]

i wood

misc, fap and TV everyday

[Misclife333]

Bump

[Mulloway69]

retire and do a side hustle full time e.g. Youtube channel relevant to your passions/interests.

[elterrible987]

You need 20 years first dumb ass

[AnaboLecter]

Retire and just invest

[BigElephant]

Retire would be the easy choice for me. Just focus on hobbies and things that make you happy and enrich your life.

[BigTimeOperator]

so around $700-800 per week?

I;d buy a van and travel and live in it with the occasional Hotel stay

[Misclife333]

so around $700-800 per week?

I;d buy a van and travel and live in it with the occasional Hotel stay

How would you cook? I have a puppy and a kitten. Where would you travel?

[BigTimeOperator]

I would read this site

https://squattheplanet.com/

[Misclife333]

Bump

[Visel]

Might've said retire during pre-COVID economy but now not so much. Inflation has been so bad for just about every sector you can think of. And even when it finally chills out it'll still be like 10-15 years ahead in terms of what it should be at in terms of USD devaluation probably.

In other words, $50k won't buy you crap beyond a frugal CoL, and even if you did try to retire you'd wind up a few years later after the economy/USD is even worse looking for a job, and wishing you've been working that whole time.

I would just view the $50k/yr as a solid dent in what's needed to retire, and have a full time job on top of it. Save and invest. Once your income from investments + pension combined are $100k+ then maybe reconsider again.

[Misclife333]

Thanks and investments and pension as in monthly or annually?

Might've said retire during pre-COVID economy but now not so much. Inflation has been so bad for just about every sector you can think of. And even when it finally chills out it'll still be like 10-15 years ahead in terms of what it should be at in terms of USD devaluation probably.

In other words, $50k won't buy you crap beyond a frugal CoL, and even if you did try to retire you'd wind up a few years later after the economy/USD is even worse looking for a job, and wishing you've been working that whole time.

I would just view the $50k/yr as a solid dent in what's needed to retire, and have a full time job on top of it. Save and invest. Once your income from investments + pension combined are $100k+ then maybe reconsider again.

[Bodhy]

so around $700-800 per week?

I;d buy a van and travel and live in it with the occasional Hotel stay

It seems like it's the life, but it really isn't. I don't work full time and I already make more than this with different income streams. Even with what is a decent income equivalent to an above average wagecel (what a wagecel on 75k would earn after tax).

I afford a good place easily, groceries, bills, gym, streaming services/entertainment and car easily. Eating out at restaurants once a week. I have some hobbies that are expensive (tabletop wargaming) and luxuries I enjoy (like new perfumes and some designer clothes).

But on top of all that, I don't have enough to travel frequently unless I keep it domestic (and Australia has a lot of fuk all in it). I'd like to be able to travel overseas more frequently, but after I fund my basics, my hobbies and some luxuries there's not enough for frequent vacations unless I am willing to sacrifice savings.

Don't retire unless you've got enough money to do everything you want to do.