87. "Even you would need a lot more money to maintain your current lifestyle" In response to In response to 76
>Once you remove housing and daycare >Shit be cheap > >We also don't have car notes > >These fight wokes on these TD Ameriprise commercial got yall >thinking yall need $5milly to retire > >Like 0.1% of yall will attain that
Your spending 20k on living expenses, excluding housing and childcare (only 2 of your biggest expenses, most likely lolol).
You'd only have 25k a year if your stretch that million dollars equally over the next 40 years of your life (assuming your near 40 and live to 80).
You either a) need to find a way to provide housing and childcare on 5k a year (833 a month) b) trade *at least* 2-5 years of your "retirement" income in to be able to buy a home, free and clear or c) make a good deal more money.
And inflation still going to kick your ass halfway to two thirds of the way through.