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Yes it is sufficient money, but a well to-do pensioner will also have more than a million, although they might not be aware of it because they only receive mont
by anothercomment 10y ago
Yes it is sufficient money, but a well to-do pensioner will also have more than a million, although they might not be aware of it because they only receive monthly payments.
I wouldn't really count on those stock market returns, either. And I don't think you get 5% for guaranteed investments these days.
- charlesdm 10y agoIf you bank $5m today, just wait for the crash in the coming years and buy in once the market has declined 30-40%. Not unrealistic you'll be able to double your money instead of achieving the 7% return. Your lifestyle will probably not have adjusted to that "new money" anyway, so you can afford to wait. Nothing in life is guaranteed, and there are still opportunities out there. Whether it's passive (stock market investing) or active (running a business, albeit more relaxed). You do need to enjoy investing and taking charge of your money, though.
- jjeaff 10y agoOh yes, time the market... That works so well for so many.
- charlesdm 10y agoShort term, no. Long term, you can always expect a crash. There's always an economic cycle. The market has been in bull mode for nearly 9 years mainly due to QE and asset inflation. The house will come crashing down at some point. Would you put $5m to work in the public markets? I personally wouldn't, but feel free to do so.
- anothercomment 10y agoIn the same way, you can win at roulette by always doubling your bet. Eventually you will win and have a net plus. Except that you'll be bankrupt before that happens. So the crash may come (ultimately, in a couple of million years the sun will burn out), but it may take too long for some people.
- deleted 10y ago[deleted]