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Under: Investing & Retirement
What's your quit number?
  • FLady
    Today, I'm thinking about how much money I would have to have in the bank to quit my job and start something new or just stop working altogether. I spent 3 years post-grad to get into this field and although I like it, I don't know if its the best fit for me. But I also have student loan debt from the degree so until that's paid off I wouldn't feel free to just walk away from the career.

    That said, I think $500K net worth would be my walk number. If I had that, I would dive into something new. I think if I ever reached $1M net worth I could stop working all together, because even at 4% withdrawal rate I could fund my lifestyle indefinitely.

    What's your quit number? How did you come to that amount?
  • spmcavoy
    hmmm this is something to think about. I think that if I reached a net worth of about 500K not including real estate assets I would move onto a new venture - I don't think that I could have a real "quit" number because I don't think that I could ever stop trying to work in some way but I would certainly choose ventures that are more suited to my passions regardless of my strength in that field.

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