10million is the new millionaire

Maybe if you’re only 18 years old you little kid fags. If you’re a 30+ adult and you invest wisely and live frugally you can absolutely retire off 1 mil. Sorry you won’t be driving a Lambo and living in a penthouse in Manhattan. Fuck you all dumbass niggers

Toss it into an index fund earning 7% a year. If you can't live off of $70,000 each year, you're probably retarded .

If you invest wisely enough you can make it with a few thousand, but that's not the point.
The point is having enough money to retire without having to worry about your investments and all the stress associated with that.

fucking kek
sage

wow man what an awesome life
I could support myself, and only myself, and live (very) frugally
Hopefully no unexpected expenses come up, cause that sure would completely fuck me

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like what? people in europe dont pay 1mil+ for surgerys

also its easy to make more money with 1mil why do you think it would never grow?

can retire easy here if you invest it good

>home gets destroyed by weather
>car accident thats not your fault (or is)
>cancer
>kids
>wife (inb4 dont *want* one)

the list goes on...
Theres something to be said for not just having enough, but having enough to be comfortable if things change.

Holy shit I can’t imagine what it must be like to be you. Watch this.
>pay off house mortgage $300k
>$700k remains
>put $500k into safe long term mutual fund roughly 5% annual return = $25k income
>put 200k into down payment on duplex rental property charge $2k rent minus $1k mortgage = $3k month passive income * 12 months = $36k passive income
>$36k+$25k = $61k income with no housing cost
If you couldn’t live comfortably off that you’re a total failure. Obviously it’s not a lot and could get a job if you wanted more. To say it would be impossible to live without a job or that you’d have to live like a pauper without a job is just really really uneducated.

Not like back in 1980 when a million dollars was worth ten times more than 2018 dollars.

...what's that? It would only be 1.98 mil in 2018 dollars and both OP and this user are faggots?

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wow it's almost like life isn't the same everywhere

Are u familiar with the concept of insurance?
Are u familiar with "free" health care?

With 1M you can budget 35k a year for around 30 years. If youre 30 you'll be lucky if you actually manage to make it to 60 with just 1M

you need to get at least 1.5 million dollars to have 1 million dollars to spend like that.

that's one of the problems. even if you magically get 1 million dollars, you don't just get 1 million dollars, you get 1,000,000 - (.38*1,000,00) - (.11*1,000,000) = 510,000 dollars.

>implying everyone else on earth has insurance
>implying 0% responsibility on medical bills

can i live in fairy land too?

This. Hilarious that you’re the first to mention this in the thread. Veeky Forums is full of people who are financially illiterate and have never taken an intro to finance or economics course.

inb4
>muh inflation

Compounding interest

See

lol what?
home insurance is a nobrainer
+ car insurance is mandatory here
+ free health care yes that includes cancer treatment

WHAT IS WRONG WITH YOU AMERICANS

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If u have 1 million, chances are u'll live in a decent country. if u don't then that's on u

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>car insurance is mandatory

and murder is illegal
SO NOBODY DOES IT ;DDD

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lets not forget inflation. 1 million dollars in a 7% fund will at best maintain its purchasing power 30 years later. It won't "make" you jack shit.

What the fuck are you even talking about? Yes I’m aware that taxes exist. Your post is completely irrelevant.

UM DUDE ? in a civilized country you cant drive because you dont get those number plates ARE YOU RETARDED?

if you can't see why that's relevant you're retarded. Good luck getting 1 million dollars.

You must be disturbingly sheltered if you think that every single person with a license plate and a drivers license has up to date insurance

You think when it runs out or they stop paying it that the police come raid their home?
No, they don't get caught until they fuck you over with their lack of insurance.

It was completely irrelevant to the topic and if you can’t see that then you are retarded.

what the fuck are you even talking about??

so a millionaire is not gonna pay his car insurance and then makes an accident so he cant survive with 1 million thats what your saying?

LMAO

Good, I hope they'll enjoy going to prison & fucked in the ass then

and if you dont pay your insurance they come to your home and take your plates u retard

I'm saying if some idiot wrecks into you and totals your car and HE doesnt have insurance
That bill is 100% on you

He might get into legal trouble, but who cares hes a degenerate anyway who couldnt even afford insurance
You are left with replacing your entire car

What is the point of your argument? It doesn't matter if the other person is insured. Your insurance pays for.

that cant happpen see above

also ill just buy a new car cause im a millionaire

>and if you dont pay your insurance they come to your home and take your plates u retard

HAHAHAHAHHAHAHAHAHAHAHAHAHAHHAHAHAHAHAHAHA
you have no idea what youre talking about, and that is not how it works
they won't get caught until they get into an automobile incident you fuck

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>Being a one millionaire isn’t as great as it used to be, but it’s probably enough to never have to work again.

Nigger you can't even buy a fucking home for 1 million anymore.

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umm yeah it is like this is live in austria - you dont pay the bill it goes to some judge after that if you dont pay theyll take your plates

nice top-down logic you've got there broski. relevant information exists outside of the cone of your awareness.

your insurance isnt paying a dime if the other guy is completely at fault

im sorry you americans are too fucking stupid to have a decent system

>austria

and there it is
I'll admit im not very knowledgeable on austrian laws, but if they literally hunt down everyone who doesn't update insurance then i guess that problems solved
and if they pay 100% for all medical costs no matter what, then that ones solved too
this still leaves wife and children, assuming you dont want to be a lonely prick all your life

Are you actually underage?
Nearly all insurance policies include something for accidents involving uninsured drivers.

It doesn't matter if the mongoloid who wrecks your 50k car doesn't have money if your insurance will foot the bill and raise your rate slightly.

Everyone is aware of taxes you dumb fuck

do you want an actual tiered list of places and plans that you would be fucked in this scenario with?

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Dumb euronigger. I pay less for my insurance than you pay in taxes for your healthcare and I have access to better services. Eat shit.

>it's a "i live in new york/cali so that means everyone does" episode

If you live frugally then 1 million dollars is never work again money. Put it in an index fund then you won't run out of money unless you try to live like you're rich.

VERY frugally. And maybe in a third world country. You'd need 2-3 mil before you could *maybe* comfortably live off of investment gains.

Remember inflation too. That money won't even be worth as much in a few years.

If you have money in a savings account, and if you get 1% interest, you're still losing 1-2% of that money's buying power per year.

If only any of that were true. USA consistently ranks highest on cost of healthcare and mid-tier for every outcome except wait times and patient satisfaction.

You're retarded. An 18 year would be better off than a 30 year

dude you can barely buy a decent house with 1mil lmao

1 million is still plenty of money. stop whining

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That's the entire point of "making it" you fucking dumbass. Sorry we don't want to eat rice and beans like a Ramsey cuck the rest of our lives.

You'd be lucky to get 7%. EVERY year. You might be fucking dumber than the person who you can retire on 1 million in the first place.

w-w-what?
what's shitty NEET now?

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The math is simple... can you live on 40k a year? Even if you get 7% in an index fund, when you account for inflation, volatility, 4% gives you a safe withdrawal while sustaining the principal. You can if you live alone in the south somewhere for sure. But you cant ball by any means, but again never have to work again.

Want to raise a family? Shoot for 3 million aka 120k per year. You can live very well in certain parts of the country with a family, but just get by in major cities, ny, or cali.

Want to raise a family, splurge here and again, and live in ny or cali? Shoot for 6 million or about 240k. You will be able to pay for your kids college, take vacations, have a nice but not insane home, and never worry about money again.

It all depends on location and whether you have a family.

When did this board get so elitist? If you think you can't buy a home for less than a million dollars these days then you're an asshole. Not everyone lives in LA or new York city. I'm sorry that you got bullied in school and still have this complex in your mind where you need to be one of the cool kids. Go to a therapist.

you average 7%, some years more some less, but on average 7% is a safe estimate. Actually with dividends the snp 500 is returning over the last 60+ years 10%. However when you account for inflation 7% works. But even then, withdraw only 4% and you are safe.

You're are asleep and haven't noticed how you're losing 2% purchasing power every single year. I'd suggest you go see a financial counselor not a therapist.

think anything below 30k still qualifies as neet

That has nothing to do with what I just said retard. If you don't wanna keep your net worth in dollars then switch to crypto or Swiss francs

>home gets destroyed by weather
0% chance unless you live in texas, florida, or oklahoma.
>car accident thats not your fault (or is)
what is car insurance?
>cancer
what is health insurance?
>kids
having kids is a choice, retard.
>wife (inb4 dont *want* one)
marriage is a choice, retard.
>the list goes on...
clearly it doesn't.