How many bitcoins do I need to retire in 20 years? - page 156.

sidhujag

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Quote from: Madness on February 26, 2015, 11:26:06 AM

We can't really say how much , can we ? Shocked

If you have have 10k coin and each BTC worth 1$ it wouldn't be much for retiring of course . but if you own that amount and each BTC costs 500$ oer something , that would be more then enough . So it all depends on the price .

~ Madness

its assumed price would be high.. my
goal to get 1000 in cold storage

Madness

hero member

Activity: 644

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My goal is becaming a billionaire.

We can't really say how much , can we ? Shocked

If you have have 10k coin and each BTC worth 1$ it wouldn't be much for retiring of course . but if you own that amount and each BTC costs 500$ oer something , that would be more then enough . So it all depends on the price .

~ Madness

Beymond

sr. member

Activity: 462

Merit: 250

Quote from: Enjorlas on February 25, 2015, 10:35:05 AM

Quote from: BitmoreCoin on February 24, 2015, 12:16:24 PM

Quote from: Possum577 on February 23, 2015, 02:25:33 PM

Quote from: Enjorlas on February 16, 2015, 05:15:54 PM

Are you high? $45 a day for food for 3 people? More like $20. Unless you're 300 pounds and never work out.

Where do you live that you're feeding three people for $20 a day TOTAL?

That's ~$6 per day per person...

In some third world country.

Dozen Eggs = $2.36
1 liter milk = $1.02
loaf of bread = $2.45
1 KG Apples = $3.84
Head of Lettuce = $1.60
1 kg Potato = $2.46
28oz Turkey = $6.98

total = $20.71

If you can't feed 3 people in one day with the above you are doing food wrong. This is just the first day of shopping. Some of what's listed would last multiple days.

Most 'working class' American's food budget includes luxuries like Starbucks Coffee, Fastfood, junk food, multiple trips to the vending machine at work, new fad health foods, the occasional visit to Chiles, etc..

Pretty awesome ! but man! what about coffee and all

BootstrapCoinDev

full member

Activity: 154

Merit: 100

To figure out a ball park for how much you need:
1.) Know your annual expenses (your income doesn't matter). If you don't know what you spend in a year, then you're NOT ready to retire.
2.) Estimate your investment returns. If you have been investing for 20+ years then take your average annual returns and reduce those returns by 25 to 50%.
3.) Estimate Inflation. Over the long term inflation has ran about 2.5 to 3%
4.) Decide if you want your plan to last you to a certain age OR if you want to plan to live indefinitely.
After that it's all basic algebra that we learned in high school.
As an example: Assuming 7% returns, 3% inflation and live indefinitely, the calculations come out that you will need 30 times your annual expenses to retire (ie: need 40k per year after SS and Pension, you will need $1.2 M). If you make less on your returns, you will need more to retire (and maintain the same lifestyle).

Enjorlas

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Activity: 788

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Quote from: BitmoreCoin on February 24, 2015, 12:16:24 PM

Quote from: Possum577 on February 23, 2015, 02:25:33 PM

Quote from: Enjorlas on February 16, 2015, 05:15:54 PM

Are you high? $45 a day for food for 3 people? More like $20. Unless you're 300 pounds and never work out.

Where do you live that you're feeding three people for $20 a day TOTAL?

That's ~$6 per day per person...

In some third world country.

Dozen Eggs = $2.36
1 liter milk = $1.02
loaf of bread = $2.45
1 KG Apples = $3.84
Head of Lettuce = $1.60
1 kg Potato = $2.46
28oz Turkey = $6.98

total = $20.71

If you can't feed 3 people in one day with the above you are doing food wrong. This is just the first day of shopping. Some of what's listed would last multiple days.

Most 'working class' American's food budget includes luxuries like Starbucks Coffee, Fastfood, junk food, multiple trips to the vending machine at work, new fad health foods, the occasional visit to Chiles, etc..

bitgeek

sr. member

Activity: 462

Merit: 251

Actually I live in a European country where a lot of people earn $500 a month (which probably leaves them $10 a day to spend on food) sometimes these are single parents and they manage.
When I was a student I was given $250 a month by my parents and I had to feed myself for it and it was easy.

It all depends on the food prices. For you $6 is "not even a big mac" and I could by 0,5kg of minced beef, 6 buns, lettuce, tomato, onions and make myself enough burgers to feed 3 people for the same price.

BitmoreCoin

sr. member

Activity: 406

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Quote from: Possum577 on February 23, 2015, 02:25:33 PM

Quote from: Enjorlas on February 16, 2015, 05:15:54 PM

Are you high? $45 a day for food for 3 people? More like $20. Unless you're 300 pounds and never work out.

Where do you live that you're feeding three people for $20 a day TOTAL?

That's ~$6 per day per person...

In some third world country.

neurotypical

hero member

Activity: 672

Merit: 503

Quote from: Possum577 on February 23, 2015, 02:25:33 PM

Quote from: Enjorlas on February 16, 2015, 05:15:54 PM

Are you high? $45 a day for food for 3 people? More like $20. Unless you're 300 pounds and never work out.

Where do you live that you're feeding three people for $20 a day TOTAL?

That's ~$6 per day per person...

No idea, anyone that works out actually needs to eat more, and he's saying it as if you need to eat less if you work out.. 0 sense.

najzenmajsen

hero member

Activity: 700

Merit: 500

Quote from: Possum577 on February 23, 2015, 02:25:33 PM

Quote from: Enjorlas on February 16, 2015, 05:15:54 PM

Are you high? $45 a day for food for 3 people? More like $20. Unless you're 300 pounds and never work out.

Where do you live that you're feeding three people for $20 a day TOTAL?

That's ~$6 per day per person...

holy shit , im wondering aswell 6 bucks per person man , that's not even a big mac and you're gonna pay 3 meals with that? you're insane man.

Possum577

sr. member

Activity: 434

Merit: 250

Loose lips sink sigs!

Quote from: Enjorlas on February 16, 2015, 05:15:54 PM

Are you high? $45 a day for food for 3 people? More like $20. Unless you're 300 pounds and never work out.

Where do you live that you're feeding three people for $20 a day TOTAL?

That's ~$6 per day per person...

cellard

legendary

Activity: 1372

Merit: 1252

Quote from: aantonopoulis on February 20, 2015, 06:19:13 PM

Quote from: Amph on February 20, 2015, 11:49:44 AM

Quote from: aantonopoulis on February 16, 2015, 06:34:04 PM

What do you mean "retire"? Can't you do that for free anytime you want?

he mean no more work, just an happy life

i would say 1M dollar at least

You can do that already for almost nothing if you have a couple friends. Just chill, you don't need 1M dollar to do nothing. But why would you want to do nothing anyway?

Oh I know, maybe by "work" you mean something that somebody else wants you to do but you don't really want to do so much yourself apart for some financial gain?

You need money to do "nothing". If you want to live a stress free life you need at least 1M. Other than that will require a constant source of income that is most likely not going to be passive, so you aren't doing nothing. (doing nothing = having free time).

azguard

legendary

Activity: 1484

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Crypto-News.net: News from Crypto World

depends on price in 20 year for start maybe 1 btc goes to price of 1 million or just 1 cent

but let say i will go retire when i collect 100 btc

ajareselde

legendary

Activity: 1722

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Satoshi is rolling in his grave. #bitcoin

Quote from: rfcdejong on February 20, 2015, 07:00:50 PM

Quote from: manselr on February 20, 2015, 11:15:49 AM

Quote from: Wonka on February 20, 2015, 10:54:22 AM

Quote from: AtheistAKASaneBrain on February 20, 2015, 10:30:56 AM

I still think 21 btc is the magic number.

21 is actually my lucky number. I might make it a goal to aquire 21 coins Cheesy

. I honestly couldn't say how many someone would need to be a millionaire in x amount of years but I would just say if you believe in the technology acquire as many as you can comfortably afford and enjoy the hodl Cheesy

.

21 is indeed a perfect number. 21 million total coins, only 1 million people in the world will own 21 coins. This is definitely a good position to be in if bitcoin makes it huge in the next decade. Who knows? no one imagined it would even reach 1 dollar in the early days.

1 million people with 21 coins on average, but 1% owning 100000 bitcoins is not something good while 5% is holding not even 1 bitcoin..

Ofcourse 21 bitcoins is a nice number and i will be happy to have that some day and keeping it for a the next 21 years

As the time passes bitcoin is becoming increasingly spread out, so even those holding great quantities are left with just a portion of their funds after every bubble, and as bitcoin spreads, theoreticaly, so should the price go up. Its a nice ide to own 21 bitcoin longtime, since there would be only 1 million of people that can have that same amount, which isnt a big number.
The real question is; will bitcoin still be around so many years ahead? Its grat success or total fail imho.

cheers

rfcdejong

hero member

Activity: 798

Merit: 500

Quote from: manselr on February 20, 2015, 11:15:49 AM

Quote from: Wonka on February 20, 2015, 10:54:22 AM

Quote from: AtheistAKASaneBrain on February 20, 2015, 10:30:56 AM

I still think 21 btc is the magic number.

21 is actually my lucky number. I might make it a goal to aquire 21 coins Cheesy

. I honestly couldn't say how many someone would need to be a millionaire in x amount of years but I would just say if you believe in the technology acquire as many as you can comfortably afford and enjoy the hodl Cheesy

.

21 is indeed a perfect number. 21 million total coins, only 1 million people in the world will own 21 coins. This is definitely a good position to be in if bitcoin makes it huge in the next decade. Who knows? no one imagined it would even reach 1 dollar in the early days.

1 million people with 21 coins on average, but 1% owning 100000 bitcoins is not something good while 5% is holding not even 1 bitcoin..

Ofcourse 21 bitcoins is a nice number and i will be happy to have that some day and keeping it for a the next 21 years

aantonopoulis

newbie

Activity: 29

Merit: 0

Quote from: Amph on February 20, 2015, 11:49:44 AM

Quote from: aantonopoulis on February 16, 2015, 06:34:04 PM

What do you mean "retire"? Can't you do that for free anytime you want?

he mean no more work, just an happy life

i would say 1M dollar at least

You can do that already for almost nothing if you have a couple friends. Just chill, you don't need 1M dollar to do nothing. But why would you want to do nothing anyway?

Oh I know, maybe by "work" you mean something that somebody else wants you to do but you don't really want to do so much yourself apart for some financial gain?

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: aantonopoulis on February 16, 2015, 06:34:04 PM

What do you mean "retire"? Can't you do that for free anytime you want?

he mean no more work, just an happy life

i would say 1M dollar at least

manselr

legendary

Activity: 868

Merit: 1006

Quote from: Wonka on February 20, 2015, 10:54:22 AM

Quote from: AtheistAKASaneBrain on February 20, 2015, 10:30:56 AM

I still think 21 btc is the magic number.

21 is actually my lucky number. I might make it a goal to aquire 21 coins Cheesy

. I honestly couldn't say how many someone would need to be a millionaire in x amount of years but I would just say if you believe in the technology acquire as many as you can comfortably afford and enjoy the hodl Cheesy

.

21 is indeed a perfect number. 21 million total coins, only 1 million people in the world will own 21 coins. This is definitely a good position to be in if bitcoin makes it huge in the next decade. Who knows? no one imagined it would even reach 1 dollar in the early days.

Wonka

member

Activity: 64

Merit: 10

Quote from: AtheistAKASaneBrain on February 20, 2015, 10:30:56 AM

I still think 21 btc is the magic number.

21 is actually my lucky number. I might make it a goal to aquire 21 coins Cheesy

. I honestly couldn't say how many someone would need to be a millionaire in x amount of years but I would just say if you believe in the technology acquire as many as you can comfortably afford and enjoy the hodl Cheesy

.

AtheistAKASaneBrain

hero member

Activity: 770

Merit: 509

I still think 21 btc is the magic number.

azguard

legendary

Activity: 1484

Merit: 1001

Crypto-News.net: News from Crypto World

think that i will be satisfied with 100 btc or less if price is high

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