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For me it's 800k USD.
Please no links to Mr.Money Asstache or other assholery. Thanks.
Please no links to Mr.Money Asstache or other assholery. Thanks.
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Well, paying off our house and one vehicle is all the debt we have.
We want a few small house upgrades. I think after paying that off. With 5 million in the bank, that should be perfect. I'm 35, so lets say i live to be 85. That's $5 million divided by 50yrs, equals to 100k a year. Without a house or car payment, there's no way we are spending anything close to that a year. Even with travel.
That should be more than enough.
I'm assuming thats with investing?$5mil would pay you $285k + per year in interest alone.
What do you do and how do I do it?Won’t be long before my mortgage is fully paid off, at which point I’ll be sitting on cash, investments and assets of about £1M. Will have to keep working, of course, because my family needs stuff, but once the kids have moved out, I should be ready to say goodbye to working.
To be honest, given how little actual work I do in a week, I’m grotesquely overpaid, but that’s hardly my fault.
I'm assuming thats with investing?
I just said that number flat out without investments, since the op didn't specify.
A basic savings account would net at least $250k, investment would be higher, conservatively $285k+.
My aunt receives $285k per year on $1.8mil and hasn't actually spent that amount in years growing another account that I don't know what she has in.