Quote:
Originally Posted by Isaac Zachary
Theoretically if a person were to invest all that money they could possibly retire and live the rest of their life off of their interest.
Half of US households make less than $70,000 a year. As long as you can make 7% yearly off of your investments you'd be set.
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I once determined that I could retire in Nicaragua for $200k, and that was when I was in my 20s. Back then I figured I'd need 2.2M to retire in the US at my youthful age.
A million bucks isn't anything anymore. Depending on how much longer one expects to live, the interest on a million probably isn't going to get them to the end of their years. 3% inflation will end up making the interest income insufficient to live on.
My retirement strategy will likely involve renting out property since the income adjusts up with inflation.