this post was submitted on 24 Sep 2023
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[–] [email protected] 8 points 1 year ago (2 children)

Stare into space. Get sheet of paper. Plan life on paper. Execute plan by doing things.

[–] [email protected] 9 points 1 year ago* (last edited 1 year ago) (1 children)

My life plan:

Step 1. Become millionaire.

Step 2. Retire.

Step 3. Get full 8 hours of sleep.

[–] [email protected] 3 points 1 year ago

Fun fact: one million dollars is not enough to retire in many parts of the United States.

The classic retirement rule of thumb is the 4% rule: you should be able to spend 4% of your retirement savings per year. The idea is that safe investments can mostly make up for what you spend, and whatever they don't make up shouldn't be a problem in your lifetime. If you plan to retire early, maybe shoot for something a bit more conservative, like 3%.

So by the 4% rule, $1MM in retirement savings is like living on $40k per year. Which is moderately comfortable in some parts of the US and poverty in others.

Better shoot for $2MM.

[–] [email protected] 8 points 1 year ago
  1. make plan
  2. get dopamine hit
  3. feel sense of accomplishment
  4. sleep
  5. repeat