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Is that really “set for life” amounts in the US these days? Sounds quite low. I can imagine it being a ton of money in the early 2000s, but not these days (unle
by herval 1y ago
Is that really “set for life” amounts in the US these days? Sounds quite low. I can imagine it being a ton of money in the early 2000s, but not these days (unless you also have a fully paid out house on top of it, at least)
- jebarker 1y agoIt depends where you live and what your lifestyle expenses are. You can easily be set for most of your life on $3M if you live in a low CoL area and keep your expenses under control. Old age could wipe you out if you need a lot of care though.
- rendx 1y agoMedian personal income in the US was $42,220 in 2023. https://fred.stlouisfed.org/series/MEPAINUSA672N https://fred.stlouisfed.org/series/MEPAINUSA672N At the "probably safe FIRE rate", 4% interest: $2m -> $80,000 annually, while also preserving the $2m, accounting for inflation
- hdjrudni 1y agoThis is precisely my goal, but 80k isn't enough in the Bay Area I think. Trying to figure out where's best.