Lemmy is seriously underestimating the number of comfortable millionaires. Got $1M? You can retire and live modestly. Got $3M? That’s a new way of life, not radical, but much better. Got $10M? You’re well set for whatever happens.
In the US, 1 million is not enough to retire comfortably unless you are already retirement age and can collect social security and Medicare. It’s not like you can retire early on 1 million dollars. That doesn’t even buy you a house where I live.
Lemmy is seriously underestimating the number of comfortable millionaires. Got $1M? You can retire and live modestly. Got $3M? That’s a new way of life, not radical, but much better. Got $10M? You’re well set for whatever happens.
In the US, 1 million is not enough to retire comfortably unless you are already retirement age and can collect social security and Medicare. It’s not like you can retire early on 1 million dollars. That doesn’t even buy you a house where I live.
I have a friend who made it big young (well earned IMO, they started working at 15) and they have about 2M in investments.
They make 4k/month after taxes just from the stock dividends every year.
That’s well enough for a comfortable life over here, as their house and cars are paid for - and the money keeps growing in investments.
Your math is a bit off