How come I never hear of deaf billionaire?

Beach girl said:
Realistically, if someone is a singleton millionaire - in other words has roughly one million in liquid assets, including money in the bank, stocks, bonds, other financial assets - and that is ALL they have to live on (no other salary, pension, etc.) that will not afford a particularly generous lifestyle.

Many people aim to have a million dollars in their retirement funds by age 65. Any good financial planner will advise taking no more than 4% out to start with, and then gradually increase the rate of withdrawal by the amount of inflation each year.

So that means the individual is withdrawing the whopping sum of $40,000 a year.

That's nice, but it's hardly an extravagent lifestyle.

So if you're fortunate enough to work for a company that still gives you a pension, and that pension is in the neighborhood of $40,000 a year - congratulations, you are living like a millionaire!

Rather sobering way to look at it, hmmm?
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That's the in-the-box way of looking at things.
 
Cheetah said:
Yes they do... the question is, are the ones that need this info listening? :hmm:
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if they don't wanna listen on how to get rich... that's their prerogative.
 
Cheetah said:
Yes they do... the question is, are the ones that need this info listening? :hmm:
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Well.... To be honest... I would never settle for just a 4% withdraw a year.
There are ways to make at least 15% a year, and you can live off 10+% a year on your money.

And it's just too easy. A bit of elbow grease here and there once a year, actually.

Oh and did I say this certain (of many) method I am thinking about is more than 99% guaranteed. Now I am not too sure on the stock market, mutual funds, etc... But I think that's pretty good.
 
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