>>937399606Fair enough. You're not actually asking for advice and I think thats perfectly reasonable. The same board thats basically nothing but nazi memes and porn isn't the place I'd go to for financial advice either.
Still, im going to give a rough breakdown of the numbers. Im going to do a fair amount of rounding just to make the numbers easier.
Since you didnt give me the home cost or your area im going to just use my area as an average cost of living.
The average 3 bedroom home with detached garage in my area is around 250,000, and average cost of living for 2 adults is about 50k before housing.
In your case a fully outfitted hobby workshop can easily run 25-35k depending on your space available and the specific machines you need but I also do a bit of woodworking (though mostly just for home repair for now) so im at least somewhat familiar with what youd need there.
If we make the assumption that your house is paid off before retirement then your only real expense for housing is 8-10% of the homes price for repairs/maintenance each year and property taxes. Property taxes vary wildly of course so again, im just going to pick the highest tax rate I see from the neighborhoods in my area and say 5%.
So you cost of living for 2 adults would be 50k (for utilities, food, emergency savings, medical care, etc) plus an additional 15% of 250k which is 37.5k meaning you'll need to have income from your investments of about 88k per year to live comfortably if you chose to live in an area similar to mine.
Of course we would also want to account for inflation which tends to average around 2% so the goal would actually be closer to 90k to start and then reinvesting any excess back into the fund. Then there's the capital gains tax to keep in mind which as of 2024 would be either 15% or 22% depending on whether its short or long term capital gains (depends on whether you've held the assets for more than 1 year) getting too long, will continue