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Old 06-09-2005, 10:21 PM
FMThe2nd FMThe2nd is offline
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Join Date: Jun 2005
Posts: 28
Default Re: Financial Goal Question

I direct you to
the retire early home page.

Check out the "4% withdrawal" study link on that page. I believe that study says you need to accumulate enough so that you can live off of 4% of the amount. So, if you can live on $40,000 per year, you will need to accumulate $1 million. I believe the 4% withdrawal amount assumes that you have 80% in a stock index and 20% in bonds.

The creator of that page retired when he was 38 and had a $400,000 net worth.

One cool thing about being a poker player is that you should be able to retire much sooner than a non-poker player. If you can live off of $40,000 per year and can make $20K per year playing poker, then theoretically you can retire when you accumulate $500,000.

Early retirement can be achieved, but you will need to make a plan as soon as possible and have the discipline to stick to it. Good luck.
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