I have $1 million. Can I retire?
>>62236052Yes, if you live frugally for the rest of your life.
>>62236052Yes, live off the interest
Depends how old you are
>>62236071It's invested and growing>>62236093My plan>>62236096I am 24 and the money is inherited
100%. Just live off 5% interest and move to a low-income state.Helps if you have a home already.
>>62236103I plan on living with my family to minimize expenses, probably we'll move to Texas.
>>62236052If you can live off $50-$80k per year from the interest, yes.
>>62236052depends on how old you are and what your life expectancy is
>>62236052Yes, if you put $1 million into SPY or VOO and spend less than $45k every year. You could live quite comfortably in Thailand or Vietnam.
>>62236052my goal is 1.75-2Mim used to 160k a year, travel, etc
>>62236052Get a silly half time job
>>62236093what are you putting the money in that would yield enough to live off of?
>>62236052Buy 1 mil 0dte options and quadruple it in 10 minutes
>>62236052i have 3.5m at 40 y/o and i still can't retire. time is on your side though, you can let compounding do the heavy lifting. pay your expenses from a job so you can let the 1m compound.
>>62238148Or lose 1 mil at 16:30
>>62238152Same, unless is something like 10 - 15m you cant really relax
>>62236052In a foreign country, sure. In north america? absolutely not.
nope. the market will crash within the next decade.not a good idea to not have a job with only a million
>>62236052>$btc or ngmi
>>62236052>>62236102Def you cannot retire right now Cost of living increases will make you burn through your principal, especially considering you have to pay for housing since you don’t own a house. However, just hold that million in stocks and in 2 decades you can prob retire at 40.
>>62236052No, but you can be more selective about how you make money. Making money can be fun anyway.
can you comfortably live off 30k? then yes40 to 50k is a gamble during market down years. anything above a 5% withdrawal is playing with fire
>>62238895You can’t live anywhere decent on 30k in America
>>62236052If you wanna live in a shitty apartment in a dirt cheap city and drive a used Honda, buy most basic stuff at Walmart and get to eat at Chili's once a week, take a cheap plane ride once a year and stay in a 2 star hotel for 3 nights, yes.
>>62238899keep in mind this 30k is completely tax free (standard deduction applies + LTCG) its the wagie equivalent of about 45k. if you already own a small home with low property taxes, drive a sedan, never go out to eat, all your entertainment is free, its doable. then hopefully it appreciates enough to compete with inflation.
>>62238107What credit card do you have?
>>62236102>I am 24Then no, you can't retire with 1 million, you will run out before you even hit 40.
>>62238955>>>62236102>>I am 24>Then no, you can't retire with 1 million, you will run out before you even hit 40.$1m invested at 24 turns into $4,920,303 at 40 years old, assuming 10% returnhttps://iqfy.com/compound?s=1000000~USD~10~12~16~12~0~3$2,605,457 if you take out 4% of the 10% returns4% of $1m is $40k to live on while wealth keeps building at a decent pace
>>62240969Exactly, not enough
