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That also assumes you’ve got a “liquid million” throwing off interest you can tap and spend. I bet a lot of those millionaire households don’t have liquid cash,
by xref 7y ago
That also assumes you’ve got a “liquid million” throwing off interest you can tap and spend. I bet a lot of those millionaire households don’t have liquid cash, but rather home equity, IRAs, and 401ks that total up to over $1mil but unless you’re of retirement age you can’t tap
- kangnkodos 7y agoA liquid million which is invested 100% in the S&P 500 has historically been enough to provide somewhere between 30K and 40K spending per year. It all depends on how many years you plan to draw money out.