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In 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
by gitfan86 5y ago
In 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...