Anonymous
04/17/2024 19:14
Subject: Can 29yr old live off $1.5 million w/working?
He should get a vasectomy, sell the house and move to Thailand ASAP. He’ll be fine on 4% a year
Until he pisses some gangster off and gets whacked
Until he pisses some gangster off and gets whacked
Anonymous
04/17/2024 19:10
Subject: Re:Can 29yr old live off $1.5 million w/working?
No. But if he works and makes $50,000 a year he could pull it off. But if he is seriously considering not working he is simply lazy and he will ultimately be a financial burden on you. You need to have a come to Jesus discussion with him.
Anonymous
04/17/2024 19:02
Subject: Can 29yr old live off $1.5 million w/working?
A person can live on that money, continue to grow the money and never work again at 29. I'm just not sure that it is your brother if the questionable purchases continue.
He is a little too young not to want to ever work again which tells me he has something else going on in his head.
Did his math include getting roommates or working part time if needed? Does he know anything about investing or it's all from reddit/fire/wb?
Does he have enough credits to get social security in case it is still around?
Some investments include the inflation, so that's not the biggest problem. A person who barely works and can't pay a bill is a problem.
Single men die sooner than married ones. Unless your age difference is huge, I wouldn't worry about having to take care of him.
He is a little too young not to want to ever work again which tells me he has something else going on in his head.
Did his math include getting roommates or working part time if needed? Does he know anything about investing or it's all from reddit/fire/wb?
Does he have enough credits to get social security in case it is still around?
Some investments include the inflation, so that's not the biggest problem. A person who barely works and can't pay a bill is a problem.
Single men die sooner than married ones. Unless your age difference is huge, I wouldn't worry about having to take care of him.
Anonymous
04/17/2024 18:52
Subject: Can 29yr old live off $1.5 million w/working?
Doubtful.
Anonymous
04/17/2024 18:52
Subject: Can 29yr old live off $1.5 million w/working?
Why did he get the house and you didn't?
Anonymous
04/17/2024 18:50
Subject: Can 29yr old live off $1.5 million w/working?
Eventually the house will need a roof, hvac, new applicances, gutters, windows, etc. I guess he plans to just let it crumble down around him? What about a new car?
Anonymous
04/17/2024 18:42
Subject: Can 29yr old live off $1.5 million w/working?
Maybe if he learns to garden and gets as much of his clothes and household items from BuyNothing as possible?
But inflation is going to get him. He’d be wiser to take a low stress or part time job paying $25-40k and not touch the principle for 10-15 years.
But inflation is going to get him. He’d be wiser to take a low stress or part time job paying $25-40k and not touch the principle for 10-15 years.
Anonymous
04/17/2024 18:23
Subject: Can 29yr old live off $1.5 million w/working?
It’s possible. Sounds like his housing costs are just taxes and insurance…not sure where he lives but that might only be $600/month.
If he invests in highly rate 30 year municipal bonds at 5% (absolutely doable right now) in his home state, that’s $75,000 with zero taxes.
Hopefully, he would work some job that he enjoys for health insurance and also to increase social security at 65.
I would say it gives him financial freedom if he doesn’t do anything stupid.
If he invests in highly rate 30 year municipal bonds at 5% (absolutely doable right now) in his home state, that’s $75,000 with zero taxes.
Hopefully, he would work some job that he enjoys for health insurance and also to increase social security at 65.
I would say it gives him financial freedom if he doesn’t do anything stupid.
Anonymous
04/17/2024 18:17
Subject: Can 29yr old live off $1.5 million w/working?
Anonymous wrote:Can my brother live the rest of his life without working? He is 29 years old and inherited a modest house and about $1.5 million. He has no intention to ever work again. He is not a big spender, no lavish vacations or expensive shopping sprees. He does make questionable financial choices sometimes such as paying way too much for something because he didn’t do any research. He is not great at “adulting” like remembering to paying bills and frequently lets his Obama insurance lapse. Overall a functioning person who has no interest in working. He has “done the math” and has determined that he never needs to work again and can live off the money we inherited from our parents. I’m not convinced but he is not open to discussion.
I inherited the same amount of money minus the house. I put it in an investment account. I don’t think it is enough to live on but maybe my life is just very different? I have a wife and a baby. We own a house and want to save for school and college. I did tell my brother that he is going to have a hard time finding a woman with his situation but he always seems to have a new girl he met on Tinder so who knows?
I think your bigger problem is that when he runs out of money, he is going to ask for some of the money you smartly put away in an investment account. Don't do it.
Anonymous
04/17/2024 18:16
Subject: Can 29yr old live off $1.5 million w/working?
Anonymous wrote:Anonymous wrote:Absolutely not. 1.5 is not enough to retire at 29. It's not enough to retire at 65!
It is feasible to do that, just not with the lifestyle most americans want.
Highly unlikely -- we need to know his expenses for the modest home, etc.
Anonymous
04/17/2024 18:15
Subject: Can 29yr old live off $1.5 million w/working?
Anonymous wrote:If he wants to live like your average single 20 something male it's doable to withdraw 3-3.5% per year.
That only gets him to 62 years old and $45K a year is much different this year than in 2044. He can't make it work unless he lives on like $10-15K a year. I can't imagine that he could do that when having to pay for upkeep/taxes on a modest home.
Anonymous
04/17/2024 18:15
Subject: Can 29yr old live off $1.5 million w/working?
Anonymous wrote:Absolutely not. 1.5 is not enough to retire at 29. It's not enough to retire at 65!
It is feasible to do that, just not with the lifestyle most americans want.
Anonymous
04/17/2024 18:13
Subject: Can 29yr old live off $1.5 million w/working?
Absolutely not. 1.5 is not enough to retire at 29. It's not enough to retire at 65!
Anonymous
04/17/2024 18:12
Subject: Can 29yr old live off $1.5 million w/working?
If he wants to live like your average single 20 something male it's doable to withdraw 3-3.5% per year.
Anonymous
04/17/2024 18:10
Subject: Can 29yr old live off $1.5 million w/working?
Can my brother live the rest of his life without working? He is 29 years old and inherited a modest house and about $1.5 million. He has no intention to ever work again. He is not a big spender, no lavish vacations or expensive shopping sprees. He does make questionable financial choices sometimes such as paying way too much for something because he didn’t do any research. He is not great at “adulting” like remembering to paying bills and frequently lets his Obama insurance lapse. Overall a functioning person who has no interest in working. He has “done the math” and has determined that he never needs to work again and can live off the money we inherited from our parents. I’m not convinced but he is not open to discussion.
I inherited the same amount of money minus the house. I put it in an investment account. I don’t think it is enough to live on but maybe my life is just very different? I have a wife and a baby. We own a house and want to save for school and college. I did tell my brother that he is going to have a hard time finding a woman with his situation but he always seems to have a new girl he met on Tinder so who knows?
I inherited the same amount of money minus the house. I put it in an investment account. I don’t think it is enough to live on but maybe my life is just very different? I have a wife and a baby. We own a house and want to save for school and college. I did tell my brother that he is going to have a hard time finding a woman with his situation but he always seems to have a new girl he met on Tinder so who knows?