Is $1 mil enough for you to retire?

[Zippyjuan]

Not enough for me and my women.

Hanging out with Jake in Illinois again?

 

[heavenlyboy34]

Not enough for me and my women.

Considering it's just you and a few of these ladies-

it should be more than enough...unless you take up an expensive hobby.

 

[Danke]

Considering it's just you and a few of these ladies it should be more than enough...unless you take up an expensive hobby.

Inflation, my friend. inflation.

 

[Kluge]

Inflation, my friend. inflation.

BWAHAHAHAHAHAHAHAHA!

That was a damn good one. Works on so many levels.....

 

[BlackTerrel]

Depends where you live. Speaking from experience 35K in Richmond, VA goes MUCH farther than 100K in San Francisco.

 

[Icymudpuppy]

Depends where you live. Speaking from experience 35K in Richmond, VA goes MUCH farther than 100K in San Francisco.

To hell with the USA... I'd move to the Bahamas or some other tropical place where my garden would grow year round, and the necessities of life are cheap.

 

[RickyJ]

I could retire on one fourth of that by investing it.

 

[Luciconsort]

straight up 1mil cash = 50k a year for 20 years... retire at 65, lower your standards and die at 85... life well spent.

 

[DEGuy]

I guess it depends if I can invest that money wisely or not. I'd split it up between equities, PM's, a little bitcoin, and real estate holding. Buy a few houses to rent out and go into business as an evil landlord.

 

[ILUVRP]

1 mil would be enough if you are over 55 , buy 10a with a house/pond , plant a garden , fruit trees , in the country , still have about 800k remaining.

hard to get 5% return anymore, also insurance/re taxes will eat you up .

 

[ryanmkeisling]

If you plan on moving that often then yes, rent. Invest the total amount and live off the return in the meantime until you are ready to buy. Then you will still have your $1 million to work with. A 5% return on that would be $50k a year which is slightly higher than the median income in the country.

Where is he safely getting a 5% return on any money right now? How would you invest that money to get a 5% yearly return?

 

[brandon]

Not a chance in hell at this age. Maybe if I was 65 and had SS, medicare, and a paid off house and car.

 

[Kelly.]

its enough for me, so long as im not forced to retire in the US

 

[Seraphim]

It depends on what you consider retiring.

If you buy a modest house, paid cash...and then outfit it to be fully energy independent with year round food production capability (greenhouse)...chicken coup...etc...then as long as you are ok working "part time" to maintain your little operation...then 1 mill will get you very far.

Not a chance in hell at this age. Maybe if I was 65 and had SS, medicare, and a paid off house and car.

 

[Kluge]

It depends on what you consider retiring.

If you buy a modest house, paid cash...and then outfit it to be fully energy independent with year round food production capability (greenhouse)...chicken coup...etc...then as long as you are ok working "part time" to maintain your little operation...then 1 mill will get you very far.

Exactly. You can buy a good house in an area with low taxes, drill a well, build some kickass greenhouses, build some pens, install a good battery bank/solar/wind and get an old beater truck that you can actually work on. You don't need much more than that. Clothes are dirt cheap at the Salvation Army. You can produce most of your food with a few acres. In many areas, you can produce your own energy.

 

[brandon]

I like to travel and eat good foods and drink good drinks though. I don't think I could be content living a life like that forever. Or maybe I could be. I don't know.


And the big things your missing in that equation are medical and dental costs. That's going to eat up a lot of your savings quickly.

 

[Sam I am]

It depends on what you consider retiring.

If you buy a modest house, paid cash...and then outfit it to be fully energy independent with year round food production capability (greenhouse)...chicken coup...etc...then as long as you are ok working "part time" to maintain your little operation...then 1 mill will get you very far.

If you're sustenance farming, than you can hardly call that "retired" in the first place.

 

[brandon]

If you're sustenance farming, than you can hardly call that "retired" in the first place.

true

 

[Kluge]

I like to travel and eat good foods and drink good drinks though. I don't think I could be content living a life like that forever. Or maybe I could be. I don't know.


And the big things your missing in that equation are medical and dental costs. That's going to eat up a lot of your savings quickly.

True. Unless you take good care of your teeth and your body, and are pretty lucky, health-wise. Or maybe you're a doctor/nurse.

 

[showpan]

At 48 and 2 children living at home, I could easily retire on 1/4 that amount.