3 ms·
Oh yes, you can live on it. The question is if you can be satisfied with it. Well, you can live on it assuming that unexpected issues do not arise, plunge you
by jlgreco 13y ago
Oh yes, you can live on it. The question is if you can be satisfied with it.
Well, you can live on it assuming that unexpected issues do not arise, plunge you into medical debt and render you unable to receive the best care you might otherwise be able to afford. That can cut short your "living on 35k a year" plan... A sad story many of those 35k/year Americans can likely talk about.
Given the option of retiring now and living off of 35k/year for the rest of my life, or continuing to work for several more years, I am going to continue working.
- saalweachter 13y agoIf my sole assets were a moneypile of $500,000 from which $35,000 were extracted for living expenses per year ... probably not. If I had to have a rough guess, my minimum retirement target is $300,000-600,000 of personal property, plus a moneypile or otherwise low/no-work income (if I were working an insignificant number of hours at something I could stop anytime but enjoyed doing, I would still consider myself retired in the conventional sense) yielding between $20,000 and $40,000 / year. So, using the 7% figure from the GP, that puts my target retirement assets at around $600,000-1,200,000.