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Money and Finances
Reply to ""$5 Million is a Nightmare... the Poorest Rich Person in America.""
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[quote=Anonymous][quote=Anonymous]5 million is a lot, but you still have to work and get medical insurance. 3% a year is only $60k a year. So, you would like to live a FIRE lifestyle to live off of it. Or move to a foreign country.[/quote] I think this has been rehashed over and over on this thread.. Whether or not $5M is a good number depends on your age. If you are late 50s/early 60s or even mid-60s, it's a great number. At 3% it puts out $150K/yr. SS for a couple should be around $50-60K at 65-67. Medicare kicks in at 65. Life is good. On the other hand, if you are a 40s couple, it's not enough to retire on in the US. [/quote]
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