3 ms·
Low 7 figures to me would be between $1,000,000 and $3,000,000. I don't think that I would call that "never need to work again" money. It's between 10 and 30
by phone8675309 6y ago
Low 7 figures to me would be between $1,000,000 and $3,000,000.
I don't think that I would call that "never need to work again" money. It's between 10 and 30 years of my salary.
A good lump sum to stash in the retirement fund. Maybe retire at 55 instead of 65, but definitely not "never need to work again" money.
- icedchai 6y agoIt depends on your lifestyle. If you ask the early retirement / FIRE forums, they'll tell you you're good to go. If you have 2 million, you can conservatively (meaning a low 3% - 4% withdrawal rate) take out 60k to 80k a year in perpetuity. Can you live on 60k - 80k a year? Consider you'll be paying a lot less in taxes since it's all capital gains. If your normal salary was 100k ish, you probably can.
- wikibob 6y agoYou make $100,000 per year? If you are in the USA you are deeply underpaid.
- jason0597 6y agoI don't know whether I should laugh or cry at this comment...
- justinclift 6y agoIt's entirely possible to relocate to a different country with a cheaper cost of living, universal health care, etc too. So, the limits of the US system should be taken as a given.