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I could retire on $300k. But I live in Ohio and have nothing to prove.

• onlyrealcuzzo 5y ago
  Sure - if you want to live below the poverty level. I mean, some people live below the poverty level just fine. Power to you if you can. But $300k will only allow you to indefinitely draw down $12k per year / $1k per month. Considering health insurance is mandatory and costs $4k+ per year - that's not leaving you much.
  • achow 5y ago
    Because of inflation, the value of $1K in a decade or so will be way less.
    • onlyrealcuzzo 5y ago
      The $1k drawdown adjusts for inflation.
  • datavirtue 5y ago
    This is all true if you have no imagination. I have also lived below poverty level so I know how to do it without being worried and stressed out. Having your entire day to do what you want is priceless. I would be living out of a garden, so no need for health insurance. When you have your time to yourself you can pursue helping people, which builds community and unquantifiable opportunity and prosperiry around you. I can see how most people these days would have no faith in that since each family lives in a bubble where they don't need or know anyone else because they have enough money to pay through the nose for everything. They get no benefit from the community in that case. Besides. Having $300k I could invest most of it and buy half a mountain with a decent house and a barn here.