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Reply to "Can 29yr old live off $1.5 million w/working?"
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[quote=Anonymous][quote=Anonymous]"Safe withdrawal rate" of 3-4% on $1.5M is somewhere in the $45K-$60K a year range. If he lives modestly and doesn't have to pay rent or mortgage, that seems doable to me (assuming he can find some reasonably affordable health insurance.) Probably a little too close for comfort for me personally, but I don't think it's way out of line.[/quote] That "safe" withdrawal rate assumes you are 65 and will have no money left when you die. The "safe" withdrawal rate for a young person is much lower. [/quote]
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