Can Americans really not retire with $5 million USD? WTF?
>>61240629not if you are used to spending 1M a year.
>>61240629You can put it in Vanguard index funds and reliably get a middle-class income from it. Is that all you want from life?
you can compound it to 500M if you use DeFi
>>612406295M gets you $200K/year at 4% interest, so just get a 4% premium over whatever you want your benchmark rate to be and you're set for life (e.g. FFRHX is 4% over short term treasuries).
>>61240675the joy of life has nothing to do with spending excessive amounts of money
>>61240629Some people can't be happy with anything, and get caught up spending their whole lives in an endless series of dick measuring competitions.
>>612406295 mil isn't enough for me and my immediate family. I can live in abject poverty as I don't need much. But nothing beats the peace of mind of having family taken care of and retiring your parents.
>>61240629That’s $200,000 in passive income in any 4% high yield savings account.As an American citizen yes you can easily retire off that. Significantly easier to retire in America vs Europe especially being taxed to Hell over there.Didn’t Paris increase retirement age to 82 or something? How pitiful.
>>61240629I did it with half that. Now I live in Thailand and rent my house out to my sister at a really low price. $5 million is definitely needed if I come back to America and want to raise a family without anybody having to work.
>>61241486the tried to increase it by 2 years and failed. Retires make more a year than people who work
>>61240629You can very much retire but you'll never be truly rich in the sense those guys are. Large New York apartments, access to exclusive clubs, first class travel, serious investing in start ups, sending kids to college with paid grades, buying politicians, simply never having to think about what anything costs, etc.
>>61241688$5m will get you inflation adjusted $200k a year reliably. i live on half of that and don't worry about what anything costs and never check my bank account
>>61240629The TV show is called Succession. Really really good show, every /biz/chad should watch it.
>>61240629Americans use debt. It's normal. So with 5,000,000 you have a 250,000 annual income if you park it in a money market fund. With that 20k per month income you get mortgages, you get cars, you get whatever you want. Yes this scene is bullshit, California and New York for awhile really believed their own bullshit and they completely deluded themselves, they thought the dollar would hyperinflate overnight so it's really 'smart' to go massively into debt and let hyperinflation get rid of your debt, but they didn't overthink what they should actually go into debt to buy so now they own bullshit. They have vastly overpriced companies that dont do anything, don't profit, they have an entire economy living off credit and they think that inflation = i get richer, but when the inflation is 10%-50% interest rates and they are hyperinflating the actual value of their credit and currency it will collapse spectacularly because incomes will disapear. Nobody will be spending on bullshit in that environment.5,000,000 today is a huge amount of money if you actually know how to preserve its value because there's a lot of stuff that's 'worth 5mil' right now which will be worth $100,000 in 5 years. And that's a nominal $100,000... even as we inflate the shit out of the dollar and the Fed does massive QE... the reason is the interest rates. So year milk will go from $4 to $50 and something worth 5 million today will go to 100k. Economics is so fucking simple, people overcomplicate it.
They can, lambo colour fags have just psyopped everyone.
>>61240629I could but it would be pretty hard, unless you are willing to live in a modest house. In that case you aren't really getting a dream retirement since you are still surrounded by normies that aren't retired.
>>61240675This mindset will ensure you'll never have enough, and you'll always be poorer than some peasant content with just cracking open some cheap beers after a day in a factory warehouse
>>61240629The context of this show is a bunch of hyper rich douchebags living a life inaccessible to most people. Their reactions are meant to express what THEY feel like the lowest standard of living is, and to emphasize how jaded they are by money in general. 5 million is 2x what you need to retire and live a modest life with a family of 3 fully supported. 7%/year is almost guaranteed on average and that’s $350k. You’ll pay 20% of that to tax so $280k take home. You can live in a million dollar home, take two nice vacations a year, pay for health insurance, eat out regularly, and get all the toys clothes etc you need and still have money left over to put away so that figure actually grows each year and you keep up with inflation.
>>61241704It fucking sucked.
>>61240629they are right about the part its bad in that it isnt enough to retire in comfort and too much to continue workingalso to put that in context the character i, question is incompetent and without useful skills who is being gifted the moneynow if you compare that to someone that acquired that 5 million from nothing and thus knows how to handle the money and make it grow by himself that makes it a different story entirelytl;dr: learn how to manage money first before ever contemplating retiring
>>61241486> Didn’t Paris increase retirement age to 82 or something?France increased retirement age to 62 actually, used to be 60
any normal adult (especially single) with non-faggot spending habits could avoid work for the rest of their lives with just 2 million, possibly less depending on which city they're in. 5 million would be easy mode
Ok red pill me then biz, how do I make $20 million dollars risk free?
>>61242152Obviously we CAN retire with $5 mil. But you are not in private jets, you don't have a personal driver or a butler, at best you have a chef. You don't get any of the luxuries of actually being rich. You are just living a middle class life without waging. Sure that's making it for some people but I'd rather not live like that.
>>61242211Be a 10/10 girl and post images pf yourself on instagram with arabic text for captions. Then take your shit on face money and invest it into lean hog futures.
>>61243717The combination of hogs and arabs is risk
>>61242094Everything made by Hollywood kikes sucks
No one in this thread is going to retire with a million. The majority of americans don't even have 100k at retirement. None of you understand how much money 5 million actually is.
>>61243778i already have close to 3m if you count my house (paid off)
>>61240629America is rich man’s country
>>61243762>>61242094Bad takes. If you paid attention, you would see the humor and spark of creativity shine through. One of the writers co-wrote Peep Show which is why it's so funny.
>>61240629200k per year passively is enough to actually explore what you wanna do with your life. The greatest wealth you can obtain is personal growth.Its not enough if you devolve yourself into bad vices and habits that will drain your account.
>>61241789>there's a lot of stuff that's 'worth 5mil' right now which will be worth $100,000 in 5 years.Like what?
>>61240629>retarded boomers who waste money without any sense for value or long-term planning daring to tell anyone they can't make it with 5milI'm nowhere near retirement and I could live for the rest of my life on 5mil.
>>61241688Anyone who thinks being able to rub dicks with old money retards is "real wealth" is just exposing that they don't know how fucking stupid the upper class ultra-wealthy are. Wasting money on prestige and status symbols is the opposite of financial savvy.
>>61243781give me some of that
I plan to quit my day job at $1m, currently at $730k.$1m will be enough to cover my cost of living and some comforts but not much else, so 5m would be more than enough to retire comfy.I would like to have more before pulling the trigger, ideally I'd be at a point where I can rely on my investments increasing my quality of life over time, so I can get a nicer car when mine eventually dies, move into a house when I eventually get evicted or fed up with living in an apartment, take business/first class to vacations or maybe even charter a jet, possibly get a nice waterfront cottage for all my extended family to enjoy.I don't think I can handle waging for someone else much longer though, it's already been 10 years and I feel like I'll barely be able to make it another 2 months.
>>61240629>Laugh at European food and gas prices>Laugh at European taxes>But apparently 100k a year still is not enough to make the ends meetNot as financially savvy as they claim
>>61245210Obviously you don't understand anything you're responding to
>>61240629What a coincidence. My make it number is 8 million so I can give the government 3 million in taxes and keep my 5. What kind of fucking faggot do you have to be to not survive the remainder of your life with that much money? TLDR I live in what you cock smokers call flyover country and fuck off we're full.
>>61245349>I'm going to quit my day job at $1 million >then I'm going to buy a house, a nice car>I'll fly first class on international vacations>I'll buy a vacation house on the waterfront>I'll subsidize the vacations of my familyI've got bad news for you, friend. The lifestyle you're describing is gonna require a lot more than one million.
>>61240629I wouldn’t retire, but I would set things up to where I never had to worry again. I would definitely open a business. I would probably build some sort of rent earning real estate portfolio because I know so much about residential structures and people . I would put most of it in something super secure and income earning (like bonds or trusts). I would buy a few toys, but not too many. I would buy a nice but modest home on 20 to 40 acres. But the last thing I would do is retire. I intend to always stay active and engaged in life.
>>61240748You would ideally want to save more than you spend each year from your market earnings. You should be able to safely get 10% pretty much no matter what. After tax that’s like $375,000 a year. There should be no problem living on $200,000 and saving the rest.
Why does every shitty video on the internet have shot misspelled subtitles now? Is this the final blow to the last functioning literate humans?
>>61245835>You should be able to safely get 10% pretty much no matter what.lol good luck with that, 10% every year consistently is not easy without playing sophisticated hedge fund games
>>61240629Is this show good? Apprently it's based on Murdoc family
>>61245790I said the ideal would be reaching the point where I'd have enough leftover to reinvest so those things would eventually come to me without any additional effort, not that I intend to do those things as soon as I hit 1m kek.Unfortunately it basically requires 1.5x-2x more which is another 5-10 years of waging. Or moving to an even lower cost of living country and living below my means there. Both options suck.I do plan to work on my own projects though and they could make $0 or 6figs, I just don't want to rely on them to survive. Just it would suck if they really did only earn $0 over 20yrs and I'd still be at my current quality of life in my 50s. Then again, it would beat waging.
>>61240629They're a family of billionaires with billionaire lifestyles.Of course they don't consider $5m enough to retire on.
>>61240675Not the hardest dick in the sauna>>61245700You only need 100k to retire in flyoverstan. The real men are speaking.
>>61240629>not worth it to workjust work for fun, jack-ass. Is there something you want to do but couldn't because it wasn't financially feasible? Well, now you have a financial safety net, so you don't have to worry about ending-up in the poor house (assuming you don't blow it on something stupid like a restaurant of course, those things are money burning machines).
>>61240629At 5% ROI that's 250k a year, that's enough for anything you could ever want.
>>61241486when did Tyler Durden become a journalist
>>61241798If you are old and retired, why would you want to be surrounded by other retirees?I'd rather live in a low maintenance condo with nice walking weather, grocery stores nearby and a low crime rate rather than living in a mansion, worrying about getting robbed.
I have seen about 6 people on /biz/ who 'confirmed' they had over 500,000 and only one single person who had over a million (he had 30 million). These threads are pointless because 90% of /biz/ is sub-100k and 99% is sub-500k.
>>61249410>90% of /biz/ is sub-100k and 99% is sub-500k.
>>61240629americans need a lot of greasy meat
>>61242094midwit detectedcousin greg is one of the best comedic performances in decades
>>61240629You can if you're not a spendthrift>$300-500k house>$20k toyota corolla you will keep forever>$4.5M left over to put in conservative investments like multiple HYSA's, bonds, bitcoin and ether, gold, and some equities>if you even make a 3% return on your $4.5m in a year that is $135,000/year.
I always found it odd how many people who actually watched the show didn't understand how the scene was framed in a way that you shouldn't agree with it. You have the ne'er-do-well son who has never done shit, to the point he's even marrying a hooker, and the clout chasing son-in-law who at that time was only barely more useful.
>>61249868> ID: g0ymngmi
