3 ms·
That is a poor comparison. The 52k is taxed. But even beyond that, your expenses can be way lower if you don't have to work - to earn good money you might need
by adamisom 5y ago
That is a poor comparison. The 52k is taxed. But even beyond that, your expenses can be way lower if you don't have to work - to earn good money you might need to live in a more expensive place than you would if you had total freedom; you might have daycare $$$expenses; spend more on commuting and food out, and frankly might just naturally spend more due to being more stressed from work and having less self-discipline to avoid a lot of discretionary expenses.
If I had 53k/year just to SPEND - no debt!! - I'd be extremely happy and consider myself rich as I wouldn't have to worry too much about almost anything I'd want to spend on, if I chose a reasonable COL city.
- SapporoChris 5y agoCompletely agree with this as it very closely mirrors my current situation. I am retired, zero debt, live off modest investments. It is easy to minimize my taxes. I do not have the cost of a car. I select places to live that are interesting and affordable. It's quite easy to go a month and spend less than 3000 USD. There's several websites that provide cost of living information by city on an international level.
- marvin 5y agoNot sure if this is in the scope of the discussion, but there are many countries in the world where capital gains are taxed at the same rate as salary. The US is a bit of an outlier there, assuming a relatively small annual withdrawal.