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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]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] Long term bonds are 4.7% at the moment, and inflation exists. [/quote]
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