1 million. Getting 3% back on investments will give me $30,000 a year. That far more than what I currently make. Also, less laundry, less eating out, and not burning so much fuel commuting to work and home.
put the money in a standard index fund. take $25k per million out first year. increase that dollar amount by 2.5 percent annually to account for inflation. should last indefinitely unless some moron in a white house blows up the country.
1 million. Getting 3% back on investments will give me $30,000 a year. That far more than what I currently make. Also, less laundry, less eating out, and not burning so much fuel commuting to work and home.
Don’t forget inflation. That 30K isn’t going to buy you much in twenty years.
The general rule is that you need to cover inflation plus what you want to withdraw. That way your income goes up as inflation does.
put the money in a standard index fund. take $25k per million out first year. increase that dollar amount by 2.5 percent annually to account for inflation. should last indefinitely unless some moron in a white house blows up the country.
I’m retiring soon. That should add enough to cover inflation.
Wildly jealous. Enjoy!