"A Redditor has built an impressive 8.5 million dollar net worth by age 40. He owns a 4 million dollar primary home with a 500,000 dollar mortgage, plus a rental property. After years of hard work, he feels burned out and hopes to retire once his net worth reaches 10 million dollars. Based on his income, he expects to earn another 1.5 to 2 million dollars over the next two years, making early retirement financially realistic."
"The problem is that his spouse and in-laws believe retiring this early is morally wrong. Their views appear to be shaped by religious teachings. In the Christian New Testament, 2 Thessalonians 3:10 to 12 includes the well-known line, "The one who is unwilling to work shall not eat." In Sikhism, the principle of Kirat Karo encourages followers to work honestly and diligently and avoid wasting their lives through idleness."
"We do not have every detail from the Reddit post, but it is fairly obvious that money is not the problem here. With an 8.5 million dollar net worth, a simple 4 percent withdrawal rate would generate about 340,000 dollars a year before taxes. The spouse raised concerns about a possible market crash, but even a severe 50 percent downturn would still leave a 4.25 million dollar portfolio. And of course, the portfolio also has the potential to keep growing over time."
At age 40, an individual has $8.5 million net worth, a $4 million primary home with $500,000 mortgage, and a rental property. He plans to retire after reaching $10 million and expects $1.5–2 million more income over two years, making early retirement financially realistic. Spouse and in-laws view early retirement as morally wrong, citing Christian and Sikh teachings and the father-in-law's entrepreneurial story; the spouse hopes to join a $20 million family business, but the individual is uninterested. A 4% withdrawal would yield about $340,000 annually; even a 50% market downturn would leave roughly $4.25 million invested.
Read at 24/7 Wall St.
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