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Hell no, are you crazy! The average Joe needs at least 2.5-3M to retire by 65, let alone 20s or 30s. That number needs upped an order of magnitude. And I'm su
by ImprovedSilence 8y ago
Hell no, are you crazy! The average Joe needs at least 2.5-3M to retire by 65, let alone 20s or 30s. That number needs upped an order of magnitude.
And I'm sure there's plenty of people that would say my number needs upped an order of magnitude too.
- ddingus 8y agoThat all depends on expectations. With just one, I would be set. No worries.
- quickthrower2 8y agoNotice I said 'pretty happy', not retire :-) But if frugal enough why not, should be doable. Assuming no foreign travel etc. yada yada Live somewhere cheap.
- appleiigs 8y agoA bit of math: $3MM x 5% annual return = 150K. On top of that, you could start spending the principal when you get older. Compare that to median household income of US of $60K.
- maceurt 8y agoThat is assuming no interest rate, and that the economy keeps going the way it is going. Also, that is before capital gains tax and/or income tax. Plus it assumes that the economy stays the way it is right now.