Is 1 million dollars enough for a 29 year old to retire in the USA?

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Not even close

No, unless you plan on dying when it runs out at like 40 something

You need 10,000,000. I will have everything. I will do 100,000,000,000 factorial quests for god. This will last forever.

No but you could retire in a foreign country maybe Mexico or Laos

I read that in his voice.

Depends on the state and city. New York or CA? Probably not. But if you’re frugal and pick a lesser know area, even in the above to states, you could make it work.

I think you need at least 2 mil

all you need is 10$ and a rope

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Dude 100k is enough if you aren't a fucking idiot living in Cali or new York

If you plan to kill yourself when you're 30

The idea is that it affords you time to do something else that is to sustain you.

why would anyone want to retire so young?
If I had a million, I'd buy a company in a skill that I'm great at improve it til the product reaches mass adoption then sell the company for x10-15.

Interest on a million dollar alone is 50k a year, super easy to retire on the interior with that if you plan on a simple life that is. Its all about what you want out of life and if its to fuck around on this board all neet like for 50 years then 1 mil is perfect. Although I cannot imagine a greater hell.

Yes but these retards would rather be a cog in the wheel until theyre 65 then die

if you invest it right yes probably. If you don't, nah not these days.

>what are dividends

give me 250k right now and I could never work another day in my life if I really didn't want to.

Maybe if you live in India. You can't generate enough passive income from 100k to sustain any kind of lifestyle in a developed country.

Long term real gains in sp500 index funds is at least 4%. For a mil that would be 40k a year forever.

Yall niggas need to quit making finacial decisions for yourself and get a broker-a good one not those shit ones cause you need one you dont have to check up on cause yall are too shit to check.
If someone handed you a million bucks and you NEED to have a job at some point in your life you fucked up big time.
Yearly interest on a million would be 30k-150k depending on risk. You dont need to make shitloads now cause you already have your retirement so monthly costs should be substantially less. You can easily have a family on 30k a year. Maybe a little more when college comes around. You can have nice cars, middle class house and everything you need, and not JUST what you need. It would be fucking easy street with only a million bucks.

I mean, I don't know how expensive USA is but surely there's people there that live on 20k a year, so if you were to live frugally then yes, it should be enough

absolutely. you need to match inflation though. you can buy two houses, one to live in and the other one to rent. use rent money to pay for stuff. always keep 100k in crypto and 100k cash

Why the usa out of all places? You like being taxed the shit out of you? Just go abroad unless youre an antisocial nigger. Look at what pro poker players do.

The median income is like $55K. You can safely get $50K a year off index funds on $1MM. People raise a family, pay a mortgage and save off that. It's enough if you don't blow it on depreciating assets like meme cars, stupid toys, money hungry hoes, strip clubs, etc and live in a LCOL area.

Most of these fags who say nah you need $2-10MM never have dealt with real money in their lives.

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>inflation doesn't exist

Yes user, more then enough, just market buy BTC and in 2021/2022 you can cash out and enjoy your 10M $

Please tell me where I can get an account where I can bare 5% interest.

If I can survive in NY and CA on 20k a year, you can survive on 1 million bucks for at least 50. Maybe at some point you’ll do something of value to society and actually earn at least one dollar

The yield on 30y us bond is about half that, so they mean speculative dividend stocks, corporate debt, other junk bonds, or regular equities from which you withdraw capital.

>ignore inflation
>ignore QE
>ignore liquidity injections to save stock markets and drug the economy
In 50years you will pay 100$ for a 5$ burger

Ah, that's what I thought. These kids are retarded.

You mean 2028/2030

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Depends on your lifestyle. 1 million at a safe 3 percent withdraw rate is an easy 30k a year. 30k isn't far from the median personal income - so it's enough to retire as a NEET. If you have a family or kids, forget it; need to double or triple that amount.

>unironically thinking just putting your money in a bank account and living off that forever until it runs out is how retirement works

>In 50years you will pay 100$ for a 5$ burger
In 50years you will pay $0 for a $5 burger.

dis nigga has a good handle on things