If one can accumulate $3 million in cash, that should be enough to lead a comfortable life. Would you agree?
With $3 million, you would earn $120,000 a year in interest income at a 4% yield doing squadoosh. Not only will you be receiving $120,000 a year, you’ll STILL HAVE your $3 million bucks in the bank!
I don’t think I need more than $80,000/yr to live a comfortable life in one of the 5 most populated cities in America. $80,000/yr would be especially enough if my mortgage was paid off, another goal of mine before “retirement.”
Readers, before I delve deeper into the number, I’d love to hear your thoughts on what the ideal and realistic number is for retirement, and how much is the minimum amount of income you would be happy to live on.