Board 8 > Do you think you could retire right now on $200,000?

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If the government gave you a stimulus check for $200,000, could you retire right now? If you are in the US, when you turn 65, you will be able to receive social security, assuming you already qualify for it. If you are in another country, same with whatever rules that country's pension plan has.

You do not have to keep living where you are and you do not have to maintain your current lifestyle.

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I don't have a huge reserve of cash or any outside streams of income, plus I have unresolved student and personal loan debt. I'm also 20-odd years away from Social Security, if it's still around (people my age aren't really counting on that).

yes because Id put it all into XRP, XLM, and ALGO

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Im already a stay at home dad. So with that 200k I could pay off my house and take some financial strain off my fianc. So yeah, I totally could retire on that.

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Nope. 200k isn't enough to retire early unless you've already reached at least your late forties, and probably not even then.

I could but it wouldnt be very fun

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It may not retire you but if you invest it properly or leave it gathering interest you'll certainly shave a lot of time off your working life.

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I like this simple formula for years until retirement
https://www.mrmoneymustache.com/2012/01/13/the-shockingly-simple-math-behind-early-retirement/

But it does prove that 200k is definitely not enough

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interestingly enough, I've been looking into something like this with a recent windfall. 200k is not enough but I might be able to create a sustainable income loop with 400k (plus my current money) based on how low my expenses and needs are.

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