teaandbiscuits
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Two people with no debts should be able to live comfortably on €48,000 a year. On that income, split between two people, you will pay almost no tax. You should have a take home income of around €850 a week.OP is in a very strong position relative to most people in the country. Some people think you need millions to retire early, thats not correct. Based on historical market trends, a 4% SWR (safe withdrawal rate) will work - this gives you 48K gross p.a.
Remember, thats without adding adding any new money.
And the OP could buy a house from one of the retired UK couples who will have to leave after Brexit!Benidorm has a pleasant climate all year long, and no language barriers. Its dirt cheap to live there.
This country is a socialist state, wealth and savings are heavily taxed, and passed on to wasters. There is little incentive to becoming self-reliant and careful with money.
Based on historical market trends, a 4% SWR (safe withdrawal rate) will work - this gives you 48K gross p.a.
Remember, thats without adding adding any new money.
I guess i am going off topic but I have to admit benidorm beach looks good...Benidorm has a pleasant climate all year long, and no language barriers. Its dirt cheap to live there.
OP is in a very strong position relative to most people in the country. Some people think you need millions to retire early, thats not correct. Based on historical market trends, a 4% SWR (safe withdrawal rate) will work - this gives you 48K gross p.a.
Remember, thats without adding adding any new money.
A couple with 48K income, at current RPI (retail price index), that is a huge amount to live on, without a mortgage.
The 4% SWR assumes normal inflation in the calculations.
What markets? What historical period are you referencing? What about inflation? What about investment expenses and taxes? How could you possibly know what "will" work in the future?
I am very familiar with the academic literature in this area and would respectfully suggest that such bald assertions are positively dangerous.
I know about these matters - I am a professional investor.
You didn't make it clear in your previous post that the OP would have to downsize and the OP has not hinted at any plan to do that.We are talking about net worth - I would include a paid off house in this calculation of means.
You cant have it both ways, early retirement means you should downsize and get your equity working for you.
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