Yeah, that is a good point. Although where I live being at 5.1M would probably put you in a pretty good place. You could likely get by with 1m earning 6% interest annually and still be okay.
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Yeah, that is a good point. Although where I live being at 5.1M would probably put you in a pretty good place. You could likely get by with 1m earning 6% interest annually and still be okay.
"Live off the interest" used to be a thing - now it is still a long way from possible with the current interest rates - even though they are higher.
I think it depends where you live. I was being conservative at 6% and that would be just about what I make from my full time job now. My 403B pulls in 10% on average per year. I might end up making more in retirement than I did in my working days!
Wouldn't that be grand!