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Agatha Christie once said that when embarking on her writing career she never thought she would be wealthy enough to afford a car, or too poor to afford servant
by neaden 7y ago
Agatha Christie once said that when embarking on her writing career she never thought she would be wealthy enough to afford a car, or too poor to afford servants. Things change quite fast.
And I would say that a $2M inheritance is set for life, withdrawing 4% of that should leave you at a steady income of $80,000 a year for doing nothing.
- angry_octet 7y agoGreat quote. Perhaps compare the cost of servants with the cost of having a dishwasher/washer/drycleaner bill, and a car to the cost of a personal jet. Shows how education and engineering and medicine and law have lifted the value unskilled labour to unprecedented levels. Living off $2M/year is fine, except of course interest rates are now 1% in much of the developed world. Higher returns now requires higher risk.