Is a million dollars enough to never work again?

>coasting through life

What a fucking waste

who the fuck makes 10%? vanguard is like 7 on avg

wagie wagie get back in your stinky cagie

It's the yellow ID's itt that you're looking for

I hit it big in crypto and am doing exactly this. Also not selling my damn bitbeans

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Yes. Invest in a good index fund that produces dividends. keep working for like 3-5 years reinvesting the dividends and then when you hit a decent passive income from cap gains and dividends, you just stop the DRIP and use the passive income to pay for everything. Although you should find some menial job and work part time that also provides benefits, because insurance is expensive on your own

Not for as long as you have it isn't
Say you live to be 80, you need 52 years of cash
You make 4% interest on it every year, pretty generous, that's $44,000, for convencience we'll assume you never pay taxes.
Assuming an inflation rate of 2.5%, by 2045, your $44,000 will buy as much as $14,700 in today's dollars. But you're not dead yet! By the time you're 78, it's worth just $8,300 in today's money. Could you live on $8,300 a year as an old fart in need of medicine and nurses? Lmfao
Invest it in riskier stuff that you don't depend on (like stocks) and work for a while. Save. You'll retire early, not 28 early but maybe 45ish early, and won't be eating cat food by 60.

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yes if you invest it.
if you want to retire and literally only walk to the ATM you need about 5* that money at your age.

PP of about $1,500 in 20 years at 2.5% rate

How much money would you need to get a decent house and set up solar panels to power your mining farm?

>he doesn't understand compounding interest
>he doesn't understand that good divvy stocks grow their divvy to outpace inflation

withdrawal plans take inflation into account
you wouldn't put 100% into equity, the next recession would fuck you up
not advisable
dividends are overrated, especially if you're still contributing
4% is not generous, you can get 3.3 guaranteed. and you don't plan retirement spending by taking out any out any money above your initial investment, that would be retarded.

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You could buy large companies such as Verizon(VZ) that pay a nice dividend (4.27% currently) and find a few more like that. That would give you around 40-50k a year without touching your principal. I could live fine on that and never work again.

With a little knowledge and education, you can make dividends and gains when stocks go on sale. I buy VZ at 42ish and sell around 52-54 all the time. Doing this nets me 20% a year.

Find 20 stocks like this and just trade them when they are out of favor and sell when they are high.

>

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Keep leaving somehow through your normal means for at least 2 years, no kidding the crash will come sooner or later around that time. People gonna be broke and will be selling their properties for cheap. And guess what ? You got money to buy, get 5-6 cheap apartments, be wise about transportation around them (location, location,location) invest on refurbish them. Your investment will give you at very least 20k a month plus you own property that's increases plus valia. Don't be a moronic Chad , play it safe, wise and planned and you will have money to live a very comfortable life for years to come.
Don't do stupid shit like buying a lambo, buy a nice car to feel what it will be like to be rich, but true story 1 mil doesn't mean shit if it is the only thing you got for life, wish u luck.

in dividend investing, yield is less important than growth of the dividend.

I own T and VZ for generating income today, but I invest more in companies like SBUX, ITW, V and AAPL because they all grow their dividend greater than 10% per year. V just grew theirs 20%.

Yeah but user do not ask about it here. The truth is less than 5% of people replying here have any finance knowledge whatsoever. I try to always teach people but I see the same retarded posts in these threads. You can safely take a little more than 35k/ year before taxes from this portfolio and probably never go broke during your lifetime. Only you can determine if that is enough for you. Also not working when young is fucking retarded. I was "retired" for a year and now just started working again

Fuck yes you could. The interest alone is about 60K a year. Some people, depending on where they live,etc manage to survive and lead decent lives on half that amount (30k)

About 200k to be self sustaining
t. have looked into this quite a lot actually

Buy property. Make house. Make plants to grow food. Make chickens. Make solar panels. Literally set

Especially this guy
who has zero finance knowledge but thinks he is some kind of "divvy" growth wizard. He talks about dividend growth as the be all end all for sucess. He suggest you invest in the dividend aristocrats but suggest you use an index fund to do so(which makes zero sense)

Dividend growth stocks are better than most other stocks simply because they are good businesses. Simply paying out dividends or increasing dividends does not make a good performing investment. So learn to value companies and buy good companies regardless if they pay dividends or not. Never withdraw more than 4%. If the company pays 5% dividends then you reinvest 1% at least.

Fucking easily. I'd put some in crypto, then wait for housing to correct. Buy the shit out of foreclosures when the market is down. Get poorfags who lost their homes to rent form you and pay the mortage. By the time the market recovers you'll have all of them paid off and will be earning a good amount of passive income, plus you'll have equity.

>dividends are interest
>putting money you cannot live without into anything even remotely risky enough to jeopardize your income
That’s why 4%.

But in all honestly, say I did get rich via lotto or other means, I'd least work my job for another 7 years. Why? Due to the fact I've got only that long to go till I could retire and least have my health insurance covered by my employer. Plus that gives me 7 years of letting that extra money just sit untouched earning more money. Doctor bills ain't cheap. Why pay more for shit if you ain't got to?

Damn it must suck to be a burger. I have literally never in my entire life worried about health insurance

past performance is no guarantee of future results
didn't say dividends are bad. they're over rated. weighting your portfolio towards a particular type of company is asking for trouble.

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>being rich
>still going to the doctor in burgerland

You can fly to costa rica, stay in a fucking resort, get all the medical treatments your heart desires, and still come out way ahead for what you'd pay in health insurance in 3 months in the US.

Medical tourism is fucking awesome and is so much better than being a cucked burger who gets Jewed by some pajeet 'doctor'.

How much of that is for the house itself and I assume this would involve a mortgage?

>putting money you cannot live without into anything even remotely risky enough to jeopardize your income
the stock market as a whole is not risky. volatility != risk. you're not putting anything at risk when you have all the time in the world to wait out any bump in the market.

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technically yes, but I wouldn't retire if I were you, especially if you're young. But find a simple job or part time job to bring in extra money, try not to touch the principle

People mention the popular stocks, which for good reason, they deliver. But everyone kinda overlooks CTL. It pays out 0.50 a share every quarter and the shares only trade for like 20ish range. But don't pass up the ETF's. The Vanguard VTI one combines both Growth and Dividend stocks in one package. Or you could go with the 2050 target fund.. Just my thoughts

No. That's like at least a down payment on a mortgage.

Maybe if you live in India.

>past performance is no guarantee of future results
You are going against your own words here. Sequence of return risk is very real and you could get rekt for decades

Fuck Vanguard etfs. Do your own research and buy individual stocks. Would you buy a crypto etf containing all cryptos? I wouldn't

>Would you buy a crypto etf containing all cryptos?

As a way of diversifying my portfolio, absolutely. It's not all or nothing, brainlet

Sort of. A famous study called the Trinity Study suggests that you can withdraw about $40K a year in perpetuity and be okay.

Is $40K a year enough to live on? Well if you're in the states and you quit your job, remember that you'll have to buy health insurance. You'll probably qualify for some kind of ACA subsidy but watch the out-of-pocket max. If you get really sick, health care could end up costing you thousands a year.

Personally, I wouldn't do it, but yeah, you can. If you can work until 38, you'll be sitting on $1.8 million if you return even 5% a year.

>Sequence of return risk is very real and you could get rekt for decades
that's why I also advocated not putting 100% of your retirement portfolio in equity.
>You are going against your own words here
you're conflating me comparing two relatively similar holdings competing against each other to the market as a whole. there's literally no 20 year period where equities do worse than fixed income.
> Would you buy a crypto etf containing all cryptos? I wouldn't
that's a fucking retarded comparison. that's like saying you're diversifying by using different slot machines.
>Do your own research and buy individual stocks.
except people are shit at beating index etfs

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>Fuck Vanguard etfs. Do your own research and buy individual stocks.

Most people fail to beat the market. Even highly compensated fund managers.

Use that money to get a high quality masters degree

What's the purpose of life, user?

Literal kings, who were thought to be put on earth by God himself, are found as rotting bones under parking lots. You think coasting, enjoying one's fledgling existence, is a waste? Get fucked you slave.

That's not even it. The index meme is a joke. 90% of the growth is from the top 20 companies. You're better off just buying individual stocks of Apple and Amazon than wasting your money on all the perma red companies

You can always make more money but one day you'll run out of time.

Don't waste your life working like the rest of the donkeys on here. Live off the interest, even if it means a relatively humble existence.

in the US 2k per month would be just health insurance if you don't work and pay fir it out your own pocket. or you can skip insurance and live happily for a while then get seriously ill and go broke. your million will evaporate after just a few hospital bills. also you need to live somewhere. so you'd have to pay rent or mortgage unless you own your house.

>90% of the growth is from the top 20 companies
half of those companies didn't exist two decades ago. you're going to miss out on the text top 20 when you're sitting on the old ones for your 40+ years of retirement.
the 4% rule is an over simplification and assumes normal retirement age

How much can you deposit in a ROTH initially?

>Live off the interest, even if it means a relatively humble existence.
Nah you will quickly cycle through lots of "affordable" hobbies and get bored eventually. Which would require you to increase spending to get on the next level (like owning a plane or a boat). So it is all about motivation. Having to make a living and finding pleasure in work (if you can) is the strongest motivation. But if you don't have to work AND you can't spend lavishly, that seems to be a tough situation.

Yes absolutely. Dividends are your friend. Buy a cheap house in the sticks and live a modest neet life on dividend income

Wtf are you talking about health insurance is $300-600 a month.

If millionaires are living in the sticks, who is living in the nice neighborhoods?

>Nah you will quickly cycle through lots of "affordable" hobbies and get bored eventually.
what hobbies are you even thinking of? the majority of the people here probably spend most of their free time browsing Jow Forums anyways

>3.4% nontaxable 30yr AAA muni bonds and get a part time job.

are you retarded? even if you are fully insured via your employer, your monthly premium can be 300 bucks easily. and i am talking about buying an individual insurance via cobra or obamacare or some shit. it is insanely expensive.

sciences, music, woodworking, foreign languages, electronics, gardening, whatever. if i didn't work and it didn't have any of those hobbies, i'd fucking go insane. you can't browse Jow Forums all your life. you will eventually grow out of it.

I mean most people pick one or two of those hobbies and are happy with them for life. you just sound like you get bored of things more than normal.
>you can't browse Jow Forums all your life. you will eventually grow out of it.
you're still here aren't you?

You can live just fine on $1m dollars indefinitely as a relatively frugal healthy young person with no family. But once your health care costs start going up as you age it’s going to be harder to maintain that principal and you aren’t going to be able to raise kids or live a luxurious life.

Apple and Amazon are the Sears of the 21st century

You can just put it in a savings account and get 2% annual income with 0 risk

That is 20k a year. You can just move to some third world shithole like Thailand and live like a king while fucking traps for the rest of your life

at least buy treasuries

for a board centered around around money this place is depressingly ignorant of finance.

Please talk this through more

Yes. Since you don't mention any debt or dependents, $1.1m is plenty. Invest in the stock market. It just took a 10% dump. Take $1m and invest in a few index funds, withdrawing as needed to cover living expenses (currently better to rent then buy housing). Then take the other $100k and invest in a couple dozen individual stocks, this is where the real money can be made. This first $100k is your education for 3-5 years. Once you establish a good rhythm for researching, buying, and selling, shift your portfolio balance further toward your own stock picks.

By the next housing crash, you should have enough skim to buy a house.

I'd also recommend setting aside some money for bitcoin (maybe 5-10). It's only a matter of time before an ETF is approved by SEC. I'm talking real bitcoin, not BCH.

That folio looks beautiful to me. Getting started with crypto now, feels akin to interactive lottery tickets. Best of luck to you there man!

>Boomer: the post
The 10% dip is the beginning of a bigger reckoning.
The housing market is never going to crash again because renting is the new paradigm.

Most of us are loser NEETs or work at mcdonalds or other wagecuck jobs. why act surprised.

>bargain shopping in a third world rainforest hospital just to save a few dollars and sit on a beach

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oh I'm not surprised. I should say I find it more fascinating than anything.
this place is like the last scene of Wolf of Wall Street with a washed up charlatan talking to a room full of people enamored by nothing but the idea of money.

Yes, invest wisely with real estate and you’re literally set

You're 28, take a gamble and go all in on crypto. If you fuck up its no biggie because you're basically playing with house money and if you win you'll be a plutocrat

Get some very remote land in a cold desert somewhere. You should be able to get 20 acres for 10k. Have a well drilled for 10k if you're lucky. Build a yurt or other similar domicile for 20k. Buy solar panels, batteries, charge controllers, and a suitable inverter from Alibaba - wire it all together. Buy high-end graphics cards from different retail stores. It will cost around 35-45k for a setup that gets you $20k a year in monero or eth. Funnel the heat from your mine into your domicile to keep the temperature comfy year round. Buy a heavy duty vehicle and equipment as needed. SO far we are at 100k or so. As money comes in, sell it on bisq as needed and spend it on property tax and different kinds of insurance