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  3. Can anyone explain why cant you retire once you reach $1M before 50?

User Info: NSGraphite

NSGraphite
4 weeks ago#51
Fire_Emblem_ posted...
The average person makes less than 50 thousand a year in America... How the f*** would a million not last you long?? Lol


it will only last you 20 years if you spend 50 thousand a year
PS4 at 100 million baby!

User Info: Fire_Emblem_

Fire_Emblem_
4 weeks ago#52
NSGraphite posted...
it will only last you 20 years if you spend 50 thousand a year
I can make it last more than 20 years.
Ike is the best Fire Emblem character! Path of Radiance is the best Fire Emblem!

User Info: gtomanga

gtomanga
4 weeks ago#53
iv reached 29 of age now, reached 1M last year,
can't figure out what to do with 1M,

console gaming[mostly PS4] is a crap box that can only play heavily censored hollywood/outdated weeb games and nothing else,
and PC i managed to create a maxed out Nasa PC with less the costs,

i can brag about having 1M...but that's as far as i can go,
i think its best to keep it for emergency.
Ys,megaman,harvest moon,sly cooper,rune factory,shin megami tensei,growlanser ,superman,bomberman,shumps,sonic fan

User Info: NSGraphite

NSGraphite
4 weeks ago#54
Fire_Emblem_ posted...
NSGraphite posted...
it will only last you 20 years if you spend 50 thousand a year
I can make it last more than 20 years.


thats very dependant upon where you live and what your situation is. in the mid-west you can make that stretch a lot further, but any major metropolis near a coast will drain you in a decade.
PS4 at 100 million baby!

User Info: lostkiwi

lostkiwi
4 weeks ago#55
altblahblahblah posted...
he's right though, the post he was responding to was wrong about a great many things.

For instance

The Estate Tax (which he referred to as the death tax) Only kicks in above $5.3 million, it would not apply to a $1 million inheritance.
The post he was responding to was mine.
And I didn't say a single thing about inheritance, or tax, or anything of that like.

User Info: lostkiwi

lostkiwi
4 weeks ago#56
Fire_Emblem_ posted...
The average person makes less than 50 thousand a year in America... How the f*** would a million not last you long?? Lol
Because of inflation.

Inflation means the value of money decreases over time.

The median household income in America at the moment is $59,000. So it's easy to say that in theory, 59k per annum will see you through retirement.

However, at an inflation rate of 3%, that $59k equates to only $24k worth of 'todays' dollars in 30 years time.

To put it another way, the average household income in the US 30 years ago (1989) was $28,906. Image having this discussion back then, and thinking that would be enough to see you through the preceding 30 years. You would be living in poverty by now.

User Info: PS4TW

PS4TW
4 weeks ago#57
Because our system is setup to chain you to working so we benefit the top 1%. 1 million could very well last you to death but it’s a gamble. Health issues can easily bankrupt a person, house repairs, car repairs and upkeep as well. Even a person with a million is still very much a slave.
"All life fears death from birth. Life fears death, but lives only to die." Necron(FF9)
"People are not moved by logic." -Mithos(TOS)

User Info: TheMKDestroyer

TheMKDestroyer
4 weeks ago#58
I'm no expert here but if you could someone manage on 2,000 a month then you can make a million dollars last 41 years and by the time you're 90 you probably won't care if you're broke and be put in a retirement home anyways.

User Info: RollingCradle

RollingCradle
4 weeks ago#59
1mil is jack s***.

Try funding Jet Force Gemini 2 with it and see how far your ass wont get.

User Info: lionhartwolf

lionhartwolf
4 weeks ago#60
doki-doki-panic posted...
HappyGuy posted...
You can retire whenever the hell you want to. If you have the money you can live a comfortable life and if you don’t you can live in a box.


Andrew Dice Clay once told me he knew an old woman who lived in a shoe.


Thats a fun reference you dont hear anymore. One Night with Dice was an underrated classic.
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