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>$1m is not enough for most people in the US to never work again, unless they are quite frugal. i.e. "$1m is not enough for most people in the US to never work
by EpicEng 8y ago
>$1m is not enough for most people in the US to never work again, unless they are quite frugal.
i.e. "$1m is not enough for most people in the US to never work again assuming they want to live to the standard that I have become accustomed to."
Which very likely does not apply to "most people". We do pretty well for ourselves and it's easy to forget that "most people" live paycheck to paycheck on far less.
- sytelus 8y agoFlorida is popular retirement destination in US and comfort living cost there for 2 people is about $50K annual without taxes. Part of the high cost is that most people in our generation won’t have paid off their mortgage and monthly $1500 expense is expected just for that. Add on the top property taxes, high cost of medical, high cost of smart devices, phone plans, eating out even once a week - etc. If you have kids who are still dependent then you can easily add another significant chunk.
- cpursley 8y ago+1 for Florida. You can buy a 3 bedroom home on a barrier island within walking/biking distance to a pristine beach for $500k. Even less for a nice condo.