I’m pretty sure if someone gave me a million dollars as someone who doesn’t have anything in the bank at 36 right now, I could retire tomorrow without an issue. It wouldn’t be a life of luxury, but it would be better than I’m living now
Comment on Even millionaires don't feel wealthy these days
Lemmyoutofhere@lemmy.ca 21 hours ago
Can’t even retire with only a million these days.
LifeInMultipleChoice@lemmy.world 18 hours ago
Sc00ter@lemmy.zip 17 hours ago
Interest could net you around 45k a year. While thats not inconsequential, thats also not allowing for any growth, so itd be 45k every year, only. Based on historical data, thatd be about the same buying power as $15k in 40 years.
LifeInMultipleChoice@lemmy.world 17 hours ago
I mean I could buy a house somewhere in a small town for 250k, and live off 20k a year without issue. That’s what $385 a week. That sets $13,000 a year aside for emergency funds (and property taxes) and or just growing back the principle to a million. Id probably be able to die at 75 with half a million in the bank
superglue@lemmy.dbzer0.com 12 hours ago
Are you in the US? Healthcare nukes that plan. If you skip buying healthcare then one single event can bankrupt you.
Bronzebeard@lemmy.zip 16 hours ago
Most people set the bar slightly higher than “technically surviving”, for their retirement.
PlantJam@lemmy.world 19 hours ago
Just work until you’re 80, then a million is plenty to get you through to either 90 or the first time you get sick.