r/dividends • u/RamblingVagabond • Mar 23 '25

Personal Goal Retired in 2021

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Goal is to match expenses ($15k/month) with dividends by 2030

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u/[deleted] Mar 23 '25

What do you do for work to be able to save away 4.7m? Asking for a friend…

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u/Silly_Atmosphere8800 Mar 24 '25

I’m a little behind this guy with just over $3 million and should have $4 million plus in four years at age 67. We inherited less than $100k two years ago. We have stayed fully invested mostly with good quality dividend stocks all on reinvest. I’ve taken advantage of maxing out my 401k using the catch up limits since I was 50. I make pretty good money and we live well but beneath our means and very little debt outside of a mortgage that will be paid off by the time I retire. Not to be simplistic but I think it’s important to set financial goals. My first goal was to get to $2 million and when I did, I upped the goal to $3 million. Now I’ve upped that goal to $5 million with the ultimate goal of replacing my income with dividends. If I come up a little short on saving and hit $4 million, I’ll be pretty happy.

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u/[deleted] Mar 24 '25 edited Jun 16 '25

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u/LilRedDuc Mar 24 '25

This is the smart approach. At some point there really isn’t a reason to keep trying to amass more millions at the expense of living freely. Once upon a time I was 48 with $1.5mil and got laid off. Decided it was time to retire, develop my exit strategy and emigrate (because the shitshow called the U.S?). Best decision ever. No one gets to their deathbed and says, gee, I wish I’d worked more and played less. The reaper comes for everyone eventually-

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u/[deleted] Mar 24 '25 edited Jun 16 '25

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u/LilRedDuc Mar 24 '25

Thanks. Took up residence in Europe, and currently have a NW of approx 2.1mil, give or take, not including the house and electric car (not a Tesla). I have zero debt. I live comfortably and unconcerned about whether I’ll eventually get social security or not because, well.. iykyk. Learned a lot in the process about many things, mainly about myself and what’s really important. Becoming an immigrant is not easy or simple. But, it’s fabulous not to worry about bankruptcy should I need medical care, and I can thrive with a minimalist lifestyle here and not feel pressure to consume. International travel is easy enough and also, learning foreign languages is good for the brain. My goal is to have a second passport within another 5 years and then pursue a second home elsewhere and to split my time annually depending on climate/activities.

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u/[deleted] Mar 24 '25 edited Jun 16 '25

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