Quote:
Originally posted by motion
Retiring on $1MM is easily do-able. $1.5MM should be plenty if you have no mortgage, car payments, credit cards, etc.
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Over multi-decade periods, the effective real (inflation-adjusted) interest rate on extremely safe investment vehicles (CDs, government securities) is about 1.5%
One million dollars would give you about $15,000/year. I guess if you're really frugal, you could swing it on that.