Ask HN: Is it possible to retire early on $1m?
I have seen a few articles/posts on people in similar situations (including 1 couple) who have decided that was enough to stop working.
I have seen a few articles/posts on people in similar situations (including 1 couple) who have decided that was enough to stop working.
1) You could retire from full-time work and do the odd contract.
2) Set up a little sideline. It wouldn't have to make much as you already have a lot saved.
3) Part-time job at Starbucks (or similar). This is also known as Barista FIRE (FIRE is Financial Independence Retire Early). The idea is in USA you'd get the Starbucks free health care, and a little income, plus it might be fun, if somewhat hectic.
4) You really do need to think about what you would want your retired life to look like. "Not work" will only be enough to take you through the "decompression zone", not beyond.
One final point. Things change. You change. Life happens. At some point you might want to get married, have ten kids, and build a house in the countryside. Who knows. I think that's why keeping your skills honed and brain working in "retirement" is probably a good idea.
You may find https://www.reddit.com/r/Fire/ helpful.
Keep in mind, most forecasts (the average) for long term equities say it will yield roughly 3% real, from here on out, much less than the 6.7% that people have become accustomed to in the last century. This is due to slowing world growth, both in population and a slowing of per capita productivity increase.