4 ms·
You're off by at least 2 orders of magnitude. You don't need to measure your annual income in the dozens-of-millions to be "financially independent".
by mfoy_ 8y ago
You're off by at least 2 orders of magnitude. You don't need to measure your annual income in the dozens-of-millions to be "financially independent".
- heyoni 8y agoExactly. 3 million and you’re set for life on interest alone.
- pc86 8y agoAt conservative withdrawal rates that $120,000 a year in interest income without ever touching the principle. The median US income is less than half that. Give half the people in the US $1.5 million and they can earn more off the interest than they do at their jobs right now. And that's not touching the principle, at conservative withdrawal rates. I'd argue that unless you live in a high COL area by choice, 1-1.5 million is all you need to live without working.
- matte_black 8y ago4% is not conservative, it’s standard. 2% is conservative. Will your 1 million outpace inflation? 1 million in 2050 ain’t shit.
- heyoni 8y agoYou're right I do live in a high COL area, and you're right, half of that would work elsewhere. No need to be in the city if you have a guaranteed income. Here's hoping remote work becomes the norm someday!