Is $4,000,000 cash enough to retire in Hawaii?????

Answer 1

Why, yes, certainly. But the price of a nice house can take away a couple of million right there.

Answer 2

Here is a calculator to figure out if it is enough for you.

(Sorry the format won't come out on the answer, so try to line up the columns as best as possible.)

Here is how you figure out a monthly retirement plan (per Dave Ramsey, Financial Peace University)
Step One:
Annual Income (today) you wish to reitre on $ ( )
divide by .08
(Nest egg needed) equals: $ ( )

Step Two:
To achieve that nest egg you will save at 12% netting 8% after inflation so we will target that nest egg using 8%,
( ) X ( )= ( )
Nest Egg Needed X Factor = Monthly Savings Needed

8% Factors (select the one that matches your age)
Age Years to Save Factor
25 40 .000286
30 35 .000436
35 30 .000671
40 25 .001051
45 20 .001698
50 15 .002890
55 10 .005466
60 05 .013610

Answer 3

if you live quite modestly off the interest. Yes. But, it would be modestly, but not impoverished. Do the math on how much interest you will earn if you had 4 mill in secure interest bearing notes like t-bills or high quality corporate debt.

Answer 4

Depends how young you are retiring and how long you plan to live for.

Answer 5

if you invest it wisely,and spend wisely you should be able to live anywhere on that much!!