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When people say "enough money so that they don't have to work anymore", what kind of money are we talking about here? 1 to 10M? 10 to 20M? or what?
by chirau 5y ago
When people say "enough money so that they don't have to work anymore", what kind of money are we talking about here? 1 to 10M? 10 to 20M? or what?
- gitfan86 5y agoIn general you can leave your money in the stock market and take out 4% a year and expect that to continue forever. Obviously there is no guarantee on that but it has held true for 60+ years. If your expenses are 40k/year you only need 1M to retire. 20M would get you 800k/year.
- chirau 5y agoI doubt 1M is anywhere close to the figure. And 40k in expenses? What kind of life would you be living? My rent alone is more than that.
- gitfan86 5y agoIt depends on the person. There are a lot of people in the world who make $18/hour. This would cover their expenses. On the other hand someone like Bill Gates or Jeffrey Bezos have much higher expenses to you.
- floxy 5y ago>My rent alone is more than that. Maybe he'll buy a house for $50k? https://www.zillow.com/homedetails/142-Abiguchee-Ln-Richwood-WV-26261/2071247057_zpid/ https://www.zillow.com/homedetails/142-Abiguchee-Ln-Richwood... https://www.zillow.com/homedetails/26-2nd-Ave-NE-Mayville-ND-58257/124531304_zpid/ https://www.zillow.com/homedetails/26-2nd-Ave-NE-Mayville-ND... https://www.zillow.com/homedetails/107-S-2nd-St-Greene-IA-50636/231208281_zpid/ https://www.zillow.com/homedetails/107-S-2nd-St-Greene-IA-50... https://www.zillow.com/homedetails/0-County-Road-19-Scottsbluff-NE-69361/2068413826_zpid/ https://www.zillow.com/homedetails/0-County-Road-19-Scottsbl... https://www.zillow.com/homedetails/421-N-11th-Ave-Fairview-OK-73737/86059182_zpid/ https://www.zillow.com/homedetails/421-N-11th-Ave-Fairview-O...