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][quote=Anonymous][quote=Anonymous][quote=Anonymous]This board truly has no clue what the lifestyle of the average American is like.

Of course he can retire with 1.5mil and a paid off house!  Of course it’s possible to squander it, but it’s also possible to live a nice, quiet, fulfilling life.[/quote]

If he lives 60 more years, that's only 25k a year or basically 2k/month, in today's money.  With this money he has to pay taxes, insurance, and upkeep on a home, plus maintenance and eventual replacement on a modest car. Plus food, clothing and healthcare. Even for a "nice, quiet, fulfilling life." I think your confidence is unfounded. [/quote]

Never understand why DCUM people can’t understand buying bonds.

You buy $1.5MM of risk free bonds at 5% and you make $75k per year without touching the principal.

Many people can live on that per year.[/quote]

This.

Once people understand this, it's like a lightbulb going off. [/quote]

The average DCUM type doesn’t understand that 75K is the current MEDIAN American *household* income.  Bunch of book smart idiots acting like 75K is poverty wages for a single man WITHOUT A MORTGAGE…[/quote]

Most people making 75K have health insurance thru their job for moderate rates. 
Sure he could live on it if invested properly, but it would be a miserly life as it's not inflation adjusted.  He won't get SS and if he does it wont be very much as it's the average of your income over 10+ years (and he might not even have 10 years of work).  
Sure no mortgage, but you have property taxes that keep going up and up and up.  The house will require maintenance, he will need a car to get places (because he isn't living on that in an urban area)
[/quote]

People making the average 75k have to pay rent or a mortgage. He doesn’t have to. Big advantage there.
Healthcare? He can get affordable obamacare.
Social Security? This isn’t free. Workers contribute to it from their paycheck. He can take the 7% SS contribution that workers have to pay, invest it wisely and match or beat SS in the end.
Home maintenance? Everyone has to do it. [/quote]

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