Is $1m enough to retire on if you're not a big spender?

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>>1932927
always keep hustlin

>>1932927
Why make a thread instead of simply running the numbers?

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>>1932927
>>1932937
LEAVE /BIZ/ OR GET SHOT YOU FUCKING FROGS

>>1932940
Well I did on firecalc, but was curious if anyone else had come up with their own magic number that they would be comfortable with.

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>>1932949

>>1932927
It is if you put it all on {insert latest shitcoin here}

>>1932927
i am british and i think £1 million is enough to retire on, but i don't think it would afford a fantastic lifestyle. i am 33 and so i have maybe 50 years give or take which would mean i could have the british average of £22k a year to live off.
you could lead an ok but unremarkable single life with that, but you wouldn't have your own baller house, no great car, no great holidays etc.
if you had £1m, why not use it to improve your situation and have more than £1m?
i think a lot of us on biz would like the opportunity that the money brings instead of the opportunity to shitpost until death without worry.

yes
but you should work part-time to stay active

>>1933005
Put that 1 mil into the hands of a financial advisor. I know someone with a 1 mil trust fund and they get about 40k a year without touching the principal.

>>1933005
£22k/year if you put the money under your mattress sure, but who does that? People with money own stocks, bonds, etc. If you can return an average rate of 4% you can spend the £40k and never even touch the underlying.

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>>1932949

>>1932974
There can be no universal number. It depends on where you live, your cost of living, what lifestyle you're willing to put up with, how the money is distributed / invested, how old you are, etc.

A million may sound like a lot right now. But inflation will steadily eat away your purchasing power if you live off of the interest instead of re-investing it. And once you start digging into the pricipal you're looking at a certain literal deadline when your funds run out.

Even achieving steady-enough returns to generate an income might prove to be a challenge and be heavily dependant on how well the economy is doing.

I don't think a million is enough to feel comfortable in any first world country, but it's probably more than enough in a lot of places in Africa or Asia.

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>>1932927
Absolutely. You would make 100k annually just by "safe" investments. Also you probably would like to spend winter months in a warm, maybe asia, where the cost of living is ridiculously low, almost nothing.

>>1933070
>He actually believes you would consistently make 100k per year

>>1933069
good answer.. it costs me about $3k/month to live freely (spending as lavishly as I want to), especially since my home is already paid for. The rest is entertainment, taxes, car upkeep, etc. I'm on at verge of being able to quit, but I'm probably going to stick it out for 4-5 more years for extra security.

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>>1933102
Absolutely no question. He would not have to make 100k cash, drawdowns would not matter. If you are worried about large drawdowns, major crashes, (which happen much less frequently than people seem to think) but settle with 5% then put your moneys in hedge fund

yes, put it in s&p or some average with about a 8 percent annual increase

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>>1932937
This

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>>1932949

>>1932927
If you properly diversify and never withdraw more than 6% of your investment per year, you should be good.

>>1932974
Whatever it takes to live my life while improving income and cucking inflation to working for me.

>>1933056
Financial advisor.

Content with 4%.

He deserves to be cucked...

>>1932927
You could move to Thailand or Ukraine and never worry about money again, in the US you probably need more.

>>1933070
>>1933118
>>1933263
Go learn about "safe withdrawal rates" kids and then come back and apologize for your shitposts.

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>>1932949

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>>1932927

yes