4 ms·

I think poster is saying $40k a year is fine in LCOL but not wealthy. And it's the yield of $1 mil.

• antisthenes 5y ago
  $40k a year during retirement. That was the original argument. With mortgage paid off and grown kids and social security supplement, $40k is plenty of money.
  • tunesmith 5y ago
    Adding in social security is really moving the goalposts. The discussed scenario is about working for less than ten years, which means much younger than 65-72.
    • yupper32 5y ago
      They're also including a mortgage that's paid off lmao. Yeah totally, $40k is plenty. You just need to not have kids, have a paid off house, no loans, live in LCOL area, get grandma's inheritance, have it come from a retirement account with minimal taxes, hope inflation doesn't kill your $40k over time, hope healthcare costs don't continue to rise, etc....