Blows my mind when people say 1million isn’t enough for retirement

[navid93]

You could put that in safe boring ETFs that yield about 7% dividends a year. You’d get about 70k a year cash flow.

How is that not enough?

[buwbs]

With the way its just gone from affordable to expensive in 3.5

Unsure if 20/30million is going to be enough in 35 years to retire srs

desi fk srs

[DolphinPilot]

Most miscers plan on dying alone so they have to front all their expenses 100% themselves.

[DrFeeIGood]

You could put that in safe boring ETFs that yield about 7% dividends a year. You’d get about 70k a year cash flow.

How is that not enough?

Please name the ETFs that safely provide 7% every year, they don't, try 2.5%, that's $25k which is poverty. $1mm aint chit, you need MINIMUM $2mm+ to retire middle class these days. The safe withdrawl is really 3-4%, so thats $60-80k, which is still poverty but doable.

[bsmit107]

Blows my mind when people think $1M is a lot of money.

[mrowe8]

You could put that in safe boring ETFs that yield about 7% dividends a year. You’d get about 70k a year cash flow.

How is that not enough?

You answered your own question. If you are happy with a life barely above poverty at 70K a year, you don't need any financial advice as money and wealth have zero interest to you.

[navid93]

Please name the ETFs that safely provide 7% every year, they don't, try 2.5%, that's $25k which is poverty. $1mm aint chit, you need MINIMUM $2mm+ to retire middle class these days. The safe withdrawl is really 3-4%, so thats $60-80k, which is still poverty but doable.

JEPI

Also there’s plenty that do more than 2.5%

[AWSbruh]

You’re going to be taxed on that 70k and you think that will be enough in 10-20 years the rate that we are going now lmao? If your home is not paid off you’re ****ed

[SaviorSelfJT]

1 million was questionable before the pandemic. That million is now worth about 500k

Also even though the stock market averages about 7 lookup the sequence of returns risk. You really can only safely withdraw about 4 percent


So with 1 million you can live off of 40k per year. Maybe doable if you already have a paid off home or have a mortgage from when homes are cheap. But still aren’t going to be balling by any means

[tripod29]

Blows my mind when people think $1M is a lot of money.

This. It's not a lot of money just in general......but people thinking they will retire and survive 20-30 years on just 1MM is mind blowing.

[Mountaineer92]

you clearly live in a bubble retard.

[bsmit107]

My Advisor is estimating that if all remains the same, and I want to maintain my current monthly expenses (as of today) which are at right around $4200/month............Accounting for STANDARD Inflation I'm going to need $12k/month when I retire at 65, $17k/month when I'm 75 and (when I'm projected to run out of money at 96 (lol, I aint makin it to 96), Ill need $31k/month)......lol at thinking $1M is going to get you anywhere in 2050.

[20Mavs11]

Before onlyfans I would agree with you OP. Then after Onlyfans and seeing the nastiest of chicks make like 1.7 million in a single month I realized being a millionaire ain't chit.

[sooby]

Counting inflation and taxes, probably no, unless you've absolutely paid off everything and want to live modestly

[Beast92]

If u had 1 million in 2019 and had the money sitting on some regular accounts u would be down in 2022 due to inflation, throw in 20 years of depreciation and u may be fuked

[Cleveland33]

If I had $1M dollars I could retire today. And most people would never see me again

[Vhagar]

70k a year before taxes and health insurance

That isn’t much

[navid93]

70k a year before taxes and health insurance

I’m isn’t much

Sure but it’s enough to retire. It’s more than enough to live a middle class life

[guest89]

I know a lot of people that are retired with no 401k/investments in the market. They have paid off homes and live frugally on social security. So it can be done, just not in a high COL area.

As far as 1m being enough to be fully retired. I wouldn't be comfortable with it. If I only had 1m and were retired/couldn't work I'd probably do a part time gig/side hustle to generate extra cash. I'd want my investments to be constantly growing not sitting stagnant.



I'll have a retirement pension but ideally I'll want at least another 5K per month from rental properties and 5K per month from stock market/crypto returns.

[Vhagar]

Sure but it’s enough to retire. It’s more than enough to live a middle class life

If your hobbies include waking up, watching Netflix and walking around the block then sure

[xMetalocalypse]

$1 million will be the equivalent to $2-3 million in 40 years. So you're right on that respect, bur adjusting for inflation it would be enough for the average person, especially when expenses are down in retirement and you are compensated via Medicare and social security (whatever it'll look like in the future).

But given that most miscers have zero financial intellect, it's not hard to see how this is considered "poverty" to them.

[Mountaineer92]

OP: blows my mind $1million USD is not enough for retirement


also op


*continues to vote and support politicians whose policies increase inflation and destroy the buying power of a USD*



dudes gotta be amongst the dumbest miscers here.

[navid93]

If your hobbies include waking up, watching Netflix and walking around the block then sure

There’s no reason you can’t have a normal life with 70k a year unless you’re financially retarded

[badger6]

$1m a year = $40k a month based on the trinity study of a 4% safe withdrawal rate.

Even with a paid for house, and low expenses most people are looking at $2-3m.

The other way to look at becoming financially independent is to have invested 25x your yearly expenses. If your expenses per year were only $70k you would need $1.75m.

That said, the first million is the hardest to earn, after that it starts increasing quicker - unless, of course, Biden is president.

Nah, I'm retired at 50. My total net worth is a little over $1M, that includes paid off house and everything else. So stocks and cash is about $750K.

I have myself on a $2K a month allowance. All my bills and expenses only come to about $1K. That leaves me $1k spending money and roll the non spent balance over to the next month. So my yearly allowance is $24K, but we'll bump it up to $30K as a cushion. So $750K/$30K= 25 years. That gets me to 75 years old. However, that doesn't take into account interest, dividends, and capital gains on the $750K. It also doesn't take into account about $1500/mo in Social Security income when/if I hit 62. I'll also have long term real estate appreciation.

I'm pretty comfortable with my financial position. Hell, about 65% of the country lives paycheck to paycheck and 55% don't have enough money to cover a $1000 emergency. At what age and condition is their retirement going to look like? The reality is that most people waste money on bullchit and wonder why they're always broke. No sir not me, I'll keep my money in my accounts. I'll let the idiots waste their money on stuff and bullchit to impress other people. At the end of the day it's not about how much money you make or have, it's about how you spend it.

[SoutheastBeast1]

Depends on your age. If you're already 65, sure 1 mil is probably enough. If you're 25-40 years old like most of misc then f*ck no.

[OffwhiteBrah]

lol @ you ****gets not gordonxxx maxxing

[TonyTriangles]

too many factors. age, health, debt, family, cost of living, and location all play into it. most people live paycheck to paycheck and have to defer retirement because they cant afford to. if you are debt free, no mortgage, retire in a low cost area (south east asia, central/south america), and scale down to living off 20k/year, 1 million can last you a very long time

[phaginator]

Depends where you retire.

This.

/thread

[SoutheastBeast1]

Nah, I'm retired at 50. My total net worth is a little over $1M, that includes paid off house and everything else. So stocks and cash is about $750K.

I have myself on a $2K a month allowance. All my bills and expenses only come to about $1K. That leaves me $1k spending money and roll the non spent balance over to the next month. So my yearly allowance is $24K, but we'll bump it up to $30K as a cushion. So $750K/$30K= 25 years. That gets me to 75 years old. However, that doesn't take into account interest, dividends, and capital gains on the $750K. It also doesn't take into account about $1500/mo in Social Security income when/if I hit 62. I'll also have long term real estate appreciation.

I'm pretty comfortable with my financial position. Hell, about 65% of the country lives paycheck to paycheck and 55% don't have enough money to cover a $1000 emergency. At what age and condition is their retirement going to look like? The reality is that most people waste money on bullchit and wonder why they're always broke. No sir not me, I'll keep my money in my accounts. I'll let the idiots waste their money on stuff and bullchit to impress other people. At the end of the day it's not about how much money you make or have, it's about how you spend it.

This dude is not going to make it.

In 25 years from inflation alone your 750k is projected to be the equivalent of 400k today.

[FlexLex]

Are we talking 2018 dollars when money made sense or todays monopoly dollars worth half that, or future dollars that are going to be completely valueless?