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I would tough it out for a few years. Put $2mm in S&P, then plan on a withdrawal rate of 3.5% a year. That would give you a very safe practically permanent sa

I would tough it out for a few years. Put $2mm in S&P, then plan on a withdrawal rate of 3.5% a year. That would give you a very safe practically permanent salary of $70k which goes a long way in the Midwest or over seas.

marktangotango 7y ago
Define "few years". If we put some numbers and suppose after taxes and not living in their car or on the street, OP is able to save $150k a year. That would take just over 13 years to accumulate the $2M. A bit less if 7% annual total market returns continue. $70k is a modest investment income, definitely won't provide the lifestyle OP was enjoying during the accumulation phase. The games rigged; even a top earner like OP can't break into the lowest echelons of wealth and lifestyle by working for a living.
- brailsafe 7y ago
  What do you mean lowest echelons of wealth and lifestyle?
- halfjoking 7y ago
  Yes - and $2 million is still a long way from the $10 million needed if you want to be a part of the 1%. Even if you're a top performer in the rat-race, you're still a rat. The only way to be free is to setup something that will cause an exponential growth in wealth. Usually that means starting a business, accumulating assets and then getting acquired.
- trcarney 7y ago
  >The games rigged; even a top earner like OP can't break into the lowest echelons of wealth and lifestyle by working for a living. What are you talking about? If the OP did this, he would be a multi-millionaire before 40. That seems pretty wealthy to me.