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Re: F U Money
Posted: Mon Dec 28, 2009 5:28 pm
by smackaholic
I would say that if you live in an inexpensive area with reasonable tax rates and you don't have extravagant tastes, 5 mil still puts you comfortably into FU money. 1 million sure as hell doesn't anymore, although you could manage on it if you had to.
Re: F U Money
Posted: Mon Dec 28, 2009 10:40 pm
by KC Scott
smackaholic wrote:I would say that if you live in an inexpensive area with reasonable tax rates and you don't have extravagant tastes, 5 mil still puts you comfortably into FU money. 1 million sure as hell doesn't anymore, although you could manage on it if you had to.
All depends on how much you plan to spend - 2 million drawing 5% would be $100K per year - provided there was no risk to the principle.
If everything is paid off - house / cars etc. and were just spending for utilities / insurance / food / entertainment etc. that's not a bad retirement