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IF I were in that situation I wouldn't quit outright. I would just find an easier job. I'd invest a significant portion in etfs and whatnot (100% up to you) jus
by MeinBlutIstBlau 6y ago
IF I were in that situation I wouldn't quit outright. I would just find an easier job. I'd invest a significant portion in etfs and whatnot (100% up to you) just cause inflation is gonna make $1mil in 40-60 years be like the new 100k. I'm not saying it can't buy a lot now, but it most certainly can't buy as much as it could in the 70s. Also factor in COL areas. $1mil will get you buy farther in a small town in the midwest than it will in a major metro area. Find a nice quiet place that rich people aren't exactly excited to flock to. Get a mortgage for a decent home or condo as well. Lastly, run a tight budget.
Tbh, $1mil isn't enough to retire with at an early age. It's certainly a lot of money, but depending on your lifestyle, it won't exactly cut it til the end. $5 mil at 20 would be a "set for life" number for me factoring in I'd live another 60 years/720 mos. That's factoring in for inflation. This is why you need to tie up money in investments. You can be pretty risk averse too. But just as long as it's not sitting in a bank account.