We were talking about winning the lotto at work once and I said with a million dollars I would probably quit if I could earn 5% interest on it to get 50k a year. My boss was like, that’s not enough you have to think about daycare and mortgage and car payments and everything. I then reminded him that I was currently making 30k a year. He stopped talking very quickly lol.
They said invested, not ‘put in a checking account and drawn down’. Even 5% returns would be 50k annually, which is already more than the median individual income. Actual return on the S&P 500 for the last 25 years has been around 8%.
How old are you and where do you live that you think thats enough to retire comfortably?
We were talking about winning the lotto at work once and I said with a million dollars I would probably quit if I could earn 5% interest on it to get 50k a year. My boss was like, that’s not enough you have to think about daycare and mortgage and car payments and everything. I then reminded him that I was currently making 30k a year. He stopped talking very quickly lol.
50k us is about what I make now and I’m in the suburbs.
Invested safely that’s what I would make with 1m, with 2m I’m having the time of my life.
I could have lived off that at any age as I’m currently making the most I’ve ever made by about 6k compared to my previous job…
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They said invested, not ‘put in a checking account and drawn down’. Even 5% returns would be 50k annually, which is already more than the median individual income. Actual return on the S&P 500 for the last 25 years has been around 8%.