Let's say...if you came into 1/2 million dollars, would you invest and retire, or keep working?
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Let's say...if you came into 1/2 million dollars, would you invest and retire, or keep working?
put the whole amount into something that yields about 12% return and make $60K a year (plus other monies coming in) and live off that, or keep working and increase the bank even more?
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Joined: Mar 2000
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Funny you should mention this...
If my bosses ideas come to fruition I will be able to retire in 5 years house paid for and a steady income of 100k a year...questio is will 100k a year be enouigh to live comfortably on in 5 years...
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Joined: Mar 2000
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I am in that same boat...
Although I will take care of my folks as they get older.
Its just nice to be part of a company that after 5 years want us to have to ability to retire if we want...My boss is a great guy!!!
Also a great friend...but the 2 are kept seperate
Its just nice to be part of a company that after 5 years want us to have to ability to retire if we want...My boss is a great guy!!!
Also a great friend...but the 2 are kept seperate
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Obv. it depends upon your age, but it's not even close to being close to being enough to retire on.
Plus, while you may be able to find investments that will 12%, none of these will be cash coupon, and you'll suffer reinvestment risk once you do liquidate.
I understand the theoretical exercise, but I can't imagine how you could live on so little for so long (30ish years?). Esp. since you won't be compounding, so you won't even keep up with inflation.
I understand the theoretical exercise, but I can't imagine how you could live on so little for so long (30ish years?). Esp. since you won't be compounding, so you won't even keep up with inflation.