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Reply to "Why do people with millions of dollars still work?"
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[quote=Anonymous][quote=Anonymous]No one takes the time to study investing, so they have to slave away for decades. Most people don't know there are stocks yielding 10%+ dividends with minimal risk. If you can get a 7% overall withdrawal rate for the rest of your life, which is very doable, you check out at $2M - no one needs more than $140K income in retirement. But since people are told to buy bonds and other nonsense, they can only safely withdraw 2.5% or 3% of their portfolio and so must slave away until they're 65.[/quote] Except that the stock can stop paying dividends and the companies could go out of business. [/quote]
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