Is anyone here actually living off their investments with no other incomes?

[scorpioncapital]

Is that  US thing only? I know in other countries even if you are not married but have a relationship over 'x' years (usually 2) you must combine your income for tax.

 

[DooDiligence]

I've been living off my investments since around 2017 and have built a spreadsheet to calculate drawdowns to cover living expenses which includes increases in costs and generous miscellaneous expenses (which I almost never use). By my conservative growth estimates (includes potential stagnation due to multiple contractions), and very liberal expenses, I figure I can make it stretch until I hit my 82nd birthday (22 more years), and this is not taking into account Social Security income. At that time I'll still have an unencumbered waterfront home in a desirable location which I could reverse mortgage (my ace in the hole).

 

My holdings are listed in my profile and the only 2 issues that I have strong fears for are CLB (bought a long time ago in a fit of stupidity), and SoftBank. My calculations include both of these issues going to zero. Many would say sell them and I will if I ever need to harvest a tax loss. For now, screw it. Call me an ape or whatever..

 

There's something very satisfying about developing an owners mindset.

 

I'm debt free and getting less materialistic every day.

[dealraker]

68 and retired for a while.  The wind down of life in my view isn't simple --- as stopping all risk taking in all various types of things likely quickens demise.  I still retain somewhat of a keeping up the properties game because it keeps me functioning efficiently.  I still race my mountain bike in the grand masters 60 and over cross country events.  I dont win, but I finish.

Edited September 1, 2022 by dealraker

[Gregmal]

6 minutes ago, dealraker said:

68 and retired for a while.  The wind down of life in my view isn't simple --- as stopping all risk taking in all various types of things likely quickens demise.  I still retain somewhat of a keeping up the properties game because it keeps me functioning efficiently.  I still race my mountain bike in the grand masters 60 and over cross country events.  I dont win, but I finish.

Kudos to you my man. What always gets overlooked in all the formulas is that it’s not about the destination but the journey.