When can Mario retire? | Unraveled

Mario can jump, he can dance, and he can successfully avoid conviction for war crimes. It seems like the only thing he can't do is settle down and just enjoy life for a moment. Mario has been cleaning up messes in the Mushroom Kingdom and beyond ever since. 1981, that makes him almost 40 years old. Most of the 40-year-olds I know are paying a mortgage, buying a platoon, and trying desperately not to become their parents, but Mario is still working the same job and all the other jobs aren't. Mario. He deserves some time off, doesn't he have a chance to kick his heels, enjoy a tropical drink while visiting the old timeshare, and more specifically, hasn't he earned enough coins to live out the rest of his life?

I'm here to give you a little financial advice, trading mission, investing in circulation for section two before most, because with the holiday market, visualize someone's finances for the potential unqualified ring of Security and find out

when

Mario can

retire

, thanks to both of you, why should Mario

retire

? Mario might say. He loves his work and

when

you love what you do you never work a day in your life but that's bullshit. I love what I do and let me tell you something. I have worked a few days. Personally, I can't wait to retire as soon as I hit 50 I'll be on the beach with a piña colada in one hand, a sci-fi novel and the other soaking up Mother Nature's cosmic rays, but Mario has a history of risky behavior. and you may be planning to live fast and die young. and leaving a beautiful, beautiful corpse that he said has weathered all the scratches so far and hitting the ground at 86 years old is hard on the hips.

Mario needs a backup plan now. I'm not here to tell Mario how to live his life. But I can take a look at his finances and find out when he will have enough money to finally give Peach his resignation letter. Foolish old man I thought I could Google how much money you need to retire and there would be a link. That says a million dollars, but it doesn't turn out that everyone needs a different amount to retire based on what you're used to. If you're making millions every year, you'll need a lot more to retire, because how else are you going to support?

Your idiot kids fail at bad business ideas, but with all the online retirement calculators I was feeling a little overwhelmed, so I decided to contact a qualified financial advisor. Hello, my name is Nate Chow. I'm a certified financial planner with Northwestern Mutual and I basically help people answer questions about money. That's exactly what I needed you to do today. This call is not about me. I feel like I'm in a great situation right now in terms of my finances, but I have some concerns about my good friend Mario. He was looking online to see if there was just one amount of money you need to retire and it turns out that's not something that exists.

How can I calculate how much money you need to retire? Yes, yes, there is a There are a lot of different things that you need to know at the most basic level, you need to know how much you are going to spend in retirement, basically, when you are going to retire and what age you are going to die, so I have to know. I have to be able to discern when I'm willing to croak is what you're saying yeah you have to calculate a death at some point I don't know you need to what if I'm never going to die then you'll never be able to retire and then you'll need to know how much money you're going to spend each month and then they listed a bunch of other very important pieces of information about retirement and I paid close attention, got it?

I figure out how much money you'll need per month and then I'll work backwards from that based on how much money you can accumulate and that's how I can determine when you can retire. That backward working model is actually what we do in the industry, but we also have to compensate for it with inflation. Is there a minimum amount of money per month that you suggest people have for retirement? Yes, generally what we're talking about is the average American. $3,000 a month today I feel like Mario is a very humble man and I don't think he needs more than 3k a month, okay, just to make it easier for me, now that I have a basic idea of ​​the information.

I need to calculate Mario's retirement age. It's time to collect the information. Let's start with something simple and find out when Mario is going to die. To keep things simple, we'll assume that Mario was born the year he first appeared in the game. This may not be so. perfectly accurate, but he would be almost 39 years old and that feels pretty good for a mustachioed man with strangely soft skin, although the current male life expectancy is around 80 years, I personally can't accept the fact that Mario is in the middle of their life. life, so I will be generous and say that he will die at 90 years old, he is ready to retire.

Mario will need a monthly budget of at least three thousand US dollars, but he uses coins, tons and tons of people have tried to figure it out. how much a coin would be worth in US dollars, but most of them have been thinking of coins as solid gold items, judging by the number of coins you need to buy simple items in the Mushroom Kingdom, it seems that coins actually don't They are worth so much. Using Super Mario RPG as our guide to coin purchasing power, the cheapest items are a coin-capable mushroom and juice, a pop shirt and pants are the cheapest non-consumable items at seven coins each.

I wanted to compare them to the more expensive items at Super. Mario RPG, but I don't think he can calculate the true price of a firebomb without me being put on a watch list. After doing some extensive research I settled on a conversion rate of one coin for eight US dollars, given our 3k retirement figure that just means Mario needs three hundred and seventy five coins a month correct incorrect Super Mario RPG came out in 1996 and we have not taken inflation into account, so we must compare these prices with similar items from the Mario and Luigi superstar saga that appeared Seven years later, I built my mushroom price index based on these six items and, with only At a quick glance, it's obvious that prices have gone up, but to figure out how far we've come, let's go back to algebra 2, the PERT equation, it's something I learned.

About a long time ago and I'm pretty sure it's used to calculate compound interest. Basically, I have to enter some prices and do some natural logs and whatever else the internet tells me to do and it will leave me with annual inflation. rate for that item, then I just have to average the rates and it will leave me with a workable annual inflation rate for the Mushroom Kingdom as a whole, so I'll go ahead and do those calculations in my head real quick, thanks clean. Now, rounding that number up, we have an average annual inflation rate of about 15 percent annually, which is really high.

The US Federal Reserve tries to keep inflation at a healthy 2%, while the Mushroom Kingdom's Federal Reserve does not exist due to Wario's aggressive lobbying. To understand this a little better I Googled Mario's Hyperinflation and got some interesting search results that ended up not being helpful, but from what I understand, this means that if Mario spends a hundred coins to buy a t-shirt this year, the year he comes will have to do it. spend a little more than one hundred and fifteen for the same shirt if inflation has remained the same since the superstar Saga came out in 2003, we can assume that by 2020 a simple mushroom will cost one hundred and twenty-eight coins per pair of tickets.

The level pants will cost two thousand forty-nine coins, so the original conversion rate of 1 to 8 no longer makes sense using those same 2020 price comparisons, the conversion rate is more like 36 coins per 1 dollar American, if Mario retired today, he would. I need one hundred and eight thousand coins per month, but let's remember that Mario has been doing this for a long time. He definitely has something hidden, so I talked to Nate about his job and ways he could be saving money he doesn't have. he's had a strange job, technically he's a plumber, I guess in the title he's part of the plumbers union, he doesn't have a pension so I'd be willing to bet he doesn't have a pension just because I think he might be the only plumber, he's not being employed by no one necessarily, you're just doing it and then you find your pay along the way is fine, so it sounds like you're almost self-employed, if you don't earn w2 income, you can't save in things like 401ks or Roth IRAs.

Now when you say a Roth IRA, what is that? It's a way to save for retirement and as a young person you know you should definitely do one by trying to maximize it each year. It is crucial for retirement. When, but when do you say crucial? I mean optional, so maybe Mario doesn't have a rough IRA or a four-in-one pie or whatever, but no one has that thing that I don't have and I'm on my way to that beach chair in Boca and the fact is that Mario You could get a lot of coins on your games, how else could you spend so much on karting or tennis?

In the most recent Mario games, the coin counter can only go up to 9999, which is the maximum amount you can store in a mattress, so let's guess. Since Mario has been saving 10,000 coins every year since the release of Mario Odyssey, we can assume that since he is not in a union, he will not receive any raises to compensate for inflation, so to finally know when Mario can retire, we need to know how much. money that you will need each year before your death, for example, if you live to be 90 years old, you will need 2.7 billion coins, which is the cost of living for only one year, but we must remember that you have been saving 10,000 coins for 54 years. which means that you would have saved 540 thousand coins, which is point zero two percent of what you need to retire just one year before your death and, in fact, if the monthly cost of living is already one hundred and eight thousand coins, it will be incredibly deep in debt, which is actually what Nate told me via text message.

Mario will never be able to retire, but you know that's crazy because there is no way for you to know that inflation will stay this high for that long. In fact, in later Mario and Luigi RPGs, the prices are Equal or Less, so let's assume that from here on out the inflation rate stays at a healthy 2% and you know, let's assume Mario can save more than ten thousand coins a month in New Super Mario Brothers until the counter reaches a maximum of one less. of ten million coins, this is an outlier and ridiculous case, but so is spending 2.7 billion coins just to survive to be 90 years old.

There's no way you could spend that much on Werther's Originals, so let's say he's saving 10 million coins a year since then. 31 years, which I should point out now equals over a quarter of a million US dollars. If we add up the cost of living each year until age 90, we can see that Mario will have saved enough money to relax on his boat in 77 years, which is just one year below the higher average life expectancy of American men. You know, just for fun, let's add some random numbers here, just to see, you know, just for fun, let's say Mario is starting to save money at age 26, I don't know, the inflation rate can stay in the same two percent and let's say the ratio of coins is actually one to one with US dollars, so you only need 3,000 coins today to be able to retire and you know, let's say you could save 10 percent of the average salary of a video producer in New York City, something completely random like that, assuming Mario lives to the ripe old age of 90, we can simply plug these figures into the equation and find out that Mario will be lounging in the white sands boombox with Jimmy Buffett at the youthful retirement age of 88, are you kidding me?

That can't be right, because if Mario can't retire, then that would mean I would apologize for a moment. To understand this a little better I Googled Mario Hype, that's it, sorry, I just accept this map, I just accept what I'm saying.