You can "safely" withdraw between 3-4% of your $1M for 30 years and never lose that $1M, assuming you keep that money invested and it grows at an average of 7%/

You can "safely" withdraw between 3-4% of your $1M for 30 years and never lose that $1M, assuming you keep that money invested and it grows at an average of 7%/yr. $30-40k/yr, pre-tax, would still be ok for one person in Portugal / Spain or other lower cost of living places, right NOW. Once you add in a spouse, children, things start to get hairy. Once you consider that these places are currently undervalued and their cost of living could increase dramatically in the future, that $30-40k/yr no longer seems as safe. I would personally aim for $2M+ to feel safe that I won't have to be forced to work a job I hate for the next 30 years.