Is 3k a month enough to retire on in a lcol or mcol area in the usa? Where should I go?
>>62253131You might be able to live in Arkansas for that much. Move next door to Boogie2988!
LCOL area for 10 years then youre fucked once inflation fucks your shit up
>>62253147>>62253146What about 5 or 6k?
definitely possible, my mom lived on $2.5-3k/mo for years in the DC area, she qualified for low income housing and had no savings but was able to live debt free
Why not just retire in a southern euro country at that point? Living in a comfy beach town with a neverending stream of tourist pussy beats living in some shithole surrounded by fentanyl junkies and meth heads
>>62253218Arizona, New Mexico, most of the midwest, rural areas of Pennsylvania and New York, Kentucky and Wyoming, although there's fuckall in Wyoming except for national parks and the ghost of KingCobraJFS lulz
>>62253218Doable. Live off the 3k and invest the rest. Try to live off less whenever possible. Money is still a hungry resource not to be taken lightly at that stage. Hopefully that 6k/mo grows to 7k in a decade and you'll remain sustainable. Also make sure its handled in tax differed investments
>>62253299Where and how exactly? Can you just fly over there as a burgerdweller no issue?
kinda confused, are people not already living off $2-6K from their jobs anyway? if you retire off the amount in passive income you also technically save more by avoiding job related expenses as well like commute and gas
>>62253402Pretty much yes. There’ll be some bureaucratic stuff, but since you’re American, everything gets fast-tracked.With $3k you’ll live comfortably, and with $5k you’ll live like a king. Depending on the location, of course. Southern France is more expensive, Southern Italy and the Greek islands are significantly cheaper. IDK about Spain and Portugal.
>>62253612ThanksAny in depth guides or tips and tricks and such you'd recommend I look into before committing?
>>62253700What I’d recommend is to first visit these places as a tourist. You have 90 days to do whatever you want (they won’t deport you if it expires, lol). This will give you plenty of time to get a real feel for the place.If you’re torn between two spots, split the time evenly. Rent an Airbnb in a location you like and pretend you live there. Check out the local housing market and don’t settle for anything mediocre. Also, don’t choose a place that compromises convenience for natural beauty.Also, keep in mind that people often idealize these countries, and reality can be quite different. America is built for convenience, while southern Europe can be amazing but usually requires some compromises.If everything feels right and you’re planning to stay long-term, look into the Elective Residence Visa (or similar programs these countries offer). It’s relatively straightforward, you just need to prove you have sufficient passive income (usually around 30k–40k europoor currency per year) and that you won’t be working remotely.
If you have a house owned outright that you are capable of fixing yourself without insurance, you have low expenses, and that 3k/month is being generated at a yield of no more than 5% by mostly dividend growth assets, you can do it.
>>62253386No need for it to be tax deferred. After standard deduction, you can make 65k in qualified dividends tax free
>>62253131I have a friend whos apparently a mini landlord living off 4 rentals getting him something like 3.8k a monthIs that still possible to achieve today? Also does rental income get taxed differently compared to stock/dividend income?
