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

Forum Index » Money and Finances

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

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[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]

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

Go it…but PP was simply taking $1.5MM and dividing by 60 which makes zero sense to come out to $25k per year.
[/quote]

It makes total sense when you consider that each subsequent year’s withdrawal needs to index with inflation just to maintain the same standard of living. In 60 years, the equivalent withdrawal is about $150K. $1.5M doesn’t last as long as you might think. [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics