Early Retirement On One Million Bucks
Interesting article over at PF Blog on retiring early. There has been a few good posts on this subject over there, and here is the short outline on his personal retirement scenario.
“…………….
- We probably need $110k (adjusted annually for inflation) to maintain the household if I bid farewell to the corporate life.
- The earning power of our household business is becoming more reliable (and strong) now. To be very conservative, we can probably count on at least $50k after tax per year from these entities for the long run — that’s only half of our revenue run rate right now.
- I might be looking for some part-time consulting or training jobs in the future, and these jobs should be able to net a quick $15k after tax per year.
- From my million-dollar portfolio, an ultra-conservative allocation should return 5-6% a year, so it is another $55k.
So without any fancy math, it appears that a million dollars is all I need for my financial independence. In fact, since I’m so conservative in counting my income streams and really liberal on the expense side, I will most likely be able to pay all my bills and contribute more savings to our retirement fund to defeat the inflation. So once again, $1,000,000 is enough.”
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