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Reply to "If we moved somewhere cheaper, could we live off principle?"
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[quote=Anonymous]If you liquidate everything you'd have around 1.4? That's a draw of 42-56k/year, and you would have to pay for housing, health care, etc for a long time before SS kicks in. That would be tough. A little easier if you kept the rental property - your rent is well above the 3-4% you could make/take off the proceeds if you sold - so add another 15k/year. Easier if you are working at least part time, but your earning potential will be less in a lower cost of living area and jobs may be hard to come by. If, however, you were the 8M poster? Absolutely, no question, and you would have the money to not get bored - you could take 3% and live off of 240k/year. That is plenty to live well almost anywhere and still have enough to travel, etc.[/quote]
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