Date registered: Apr 2004
Location: The BlueGrass State
Mentioned: 0 Post(s)
Quoted: 2 Post(s)
With $1M a couple CAN retire OK as long as they don't have a burden of debt and stupidity [or continue to bail out their kids]. As Q said, $2M will get you, even at a pretty save 5% return $100K a year after everything has settled.
Is it RICH? RICH is swinging in to town in your own $40M G4 or Dassault Falcon with YOUR $1M Prevost waiting for you to take you to the parties and events. [That would have been Dave Thomas in my little example].
RICH is a completely different world that buys in at $250M or better, even after the last crash. These are people that consider it a failure when they miss the Forbes Billionaires List by just $75M.
Being smart is knowing the difference, in a sticky situation between a well delivered anecdote and a well delivered antidote - bear.