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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]Doable with a certain lifestyle. I agree he will have a hard time finding a woman who will go for it. [/quote] It's not doable. You have to pay for health insurance, taxes/maintenance on the house. He's only worked 8-9 years? You have to work min 10 to get any social security, and then it's on the average earnings over those 10+ years. He's not likely to get much. 99% chance this doesn't end well and he's a burden to you and society. Why not work a job making $40K and live the extremely frugal lifestyle while saving. Then see if you really like the lifestyle? [/quote] Geez...so fine, you convince the kid he has to work two more years for SS and Medicare. Doubt that is a super-hard sell. However, the median income in the United States today is only like $39,000 per person. I doubt that the median worker making $39k has any savings at all. I guess your view is the median person out there is just a future burden to society. There are plenty of FIRE advocates out there who can easily sustain their lives on a $75,000/year income and $1.5MM in the bank that you will try not to touch.[/quote]
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