Comment on Even millionaires don't feel wealthy these days
LifeInMultipleChoice@lemmy.world 18 hours agoI’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
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.
LifeInMultipleChoice@lemmy.world 11 hours ago
They fucked our healthcare system, so my philosophy is if something bad happens you just don’t pay them if they perform the procedure, and if they don’t you just kill yourself. 300k in healthcare bills, send them $10 a month until you pass away.
Bronzebeard@lemmy.zip 16 hours ago
Most people set the bar slightly higher than “technically surviving”, for their retirement.
LifeInMultipleChoice@lemmy.world 16 hours ago
Most people retire at 65 with a house paid off as well. Spending 125,000 a year in retirement is a crazy amount. If have to I could go on a $15,000 vacation every other month and have $35,000 left over for food. Id call that living large for sure.