Quote:
Originally Posted by nuclear500
To summarize the thread and close it out:
If you don't have expensive tastes, $1m is plenty at $40k/year (thats 4% muni bond btw)
If you have more expensive tastes, you need more then $1m.
Ummm, no.
To summarize this thread:
If you are the 20 year old version of Ted Kaczinski or Jack Kerouac, you could do it.
Even though your muni-bond is tax free, you still have to cover inflation. CPI over the last 30 years is like 2.5-3%. You would be broke before you died.
To close this thread out, if you are willing to intelligently put your $1m to work, and do some work yourself, you could do it pretty comfortably. If you decide you want to stare at the walls, while on a spreadsheet it's possible to scrape by, you'd be below the poverty line.