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re: Is $1 million a lot of money in 2019?
Posted on 6/24/19 at 8:58 am to Fat Bastard
Posted on 6/24/19 at 8:58 am to Fat Bastard
quote:
yeah f that. draw down? wrong mentality from get go. you put money to work for you into passive income streams so your principal works for you and you do not draw down anything. cash flow anyone??
What if you have no heirs you are concerned about leaving to?
I don't, and I want to enjoy it.
I'm thinking about taking 8% a year till 65, then see where I am, then maybe drop to 7% if it appears I am taking too much. With that said, I'm assuming a life expectancy of no greater than 75 max.
1
Posted on 6/24/19 at 9:56 am to kywildcatfanone
quote:
With that said, I'm assuming a life expectancy of no greater than 75 max.
This is probably the surest way to live to 100.
In all seriousness I think as someone else said $1 million can be life changing money if you managed it properly through investments and debt reduction, but I don’t think it’s “never work another day” money. I’d be concerned about living off of only that through my retirement (granted I won’t have a pension and highly doubt there will be any SS by then).
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