Special_Freedom_8069 t1_jdxp146 wrote on March 27, 2023 at 11:15 PM

It depends on your living expenses. It may not be completely relevant in this case, but in the r/financialindependence community they have the so called "4% rule" where you can withdraw 4% per year from your portfolio indefinitely. So, let's say you need $30000 per year, you would need $750000 in your portfolio to not having to work ever again. But if you are just planning to ride out a few years the amount is much smaller of course.

I also foresee that the 4% rule or even the whole FIRE (Financial Independence, Retire Early) movement will die out once UBI arrives, for obvious reasons.

phriot t1_jdxt7a4 wrote on March 27, 2023 at 11:46 PM

>I also foresee that the 4% rule or even the whole FIRE (Financial Independence, Retire Early) movement will die out once UBI arrives, for obvious reasons.

Maybe, but I'm not so sure. If it does die out, it will be because the kinds of upper-middle class jobs that support the effort disappear. UBI won't be enough to kill it alone. Most FIRE people seem to want to keep those upper-middle class lifestyles. Fewer seem to want to get to $500k in order to live off $20k/year in the rural Midwest for the rest of their lives. UBI will provide for barely more than subsistence living until we get to a post-scarcity economy.