Who’s buying and selling, page-1571

My rule of thumb is to add up the cost/value of all you possessions (which ever is higher), including any you rent/lease. You need to have all those possessions paid for (or money put aside) plus two times that amount in investments.

So if you live in a $1.2m house and have another $300k in possessions for your car, boat, etc, you’d need that paid for plus $3m in investments. Obviously you need to adjust for any unusual expenses (eg five star travel, expensive hobbies, etc). On the other hand, if you live modestly outside the big cities, $1m might just be enough.

In the low return world we now live in, the above might not be enough though, so cross fingers and hold thumbs for Firefinch!