Reply to Can 29yr old live off $1.5 million w/working?

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Reply to "Can 29yr old live off $1.5 million w/working?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Reading through the thread, the 75K # came from 5% municipal bonds.

It is doubtful that this 29 year old has the type of account that would allow him to direct buy MB on par value, and even if he did, it would take a good deal of research to understand what and which bonds to buy himself.

More realistically, he is looking at 45K/year (3%), [b]and hope he doesn't hit major, unexpected expenses along the way, and stays healthy until he drops dead before his money runs out. [/b]

You can't compare a young person with 1.5M and never working again to a person who is gainfully employed for even a decade or two. [/quote]

This is the real danger.  What happens when the house needs a new roof?  What happens when he needs an expensive prescription that is only partially covered by insurance?  What happens when he's in a car accident?  There are innumerable things that could cause this "plan" to fail.  [/quote]

There’s no guarantees safe path through life.  Every plan has risk (yes, even working) - you just have to be okay with the immediate tradeoffs and accept the uncertainty.[/quote]

This goes without saying. The discussion is about options and plans given the circumstances. Not everyone is a: Well, it's going to be what it's going to be person. Clearly that is not OP, but is OP's brother. And if I was OP, I could see OP's brother showing up on his doorstep in 20 years with: Dude, I am broke. Need money.[/quote]

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