Comment on [deleted]
CosmicCleric@lemmy.world 10 months agoThe issue being discussed is not of someone can move or not, is if a million dollars is enough money to retire.
The argument I’m putting up is that in most places a million dollars is not enough, that you would have to relocate to places that have very inexpensive cost of living and the quality that goes along with it.
For some reason people keep assuming I’m talking about the ability to move or not.
Blackmist@feddit.uk 10 months ago
I guess it boils down to “do you own your own house and have you finished paying for it?”
Because if the answer is no, the question is entirely geographical. You could need ten times the amount to retire.
Once you own your own bricks and mortar, the equation balances out a lot more. Things like electricity and food tend to cost a similar amount no matter where you are in the country. I’d say a million in liquid assets, with no debts, would be enough to retire on in most places, as long as you don’t have any ridiculous outlier outgoings.