2007-01-24 08:33:19 · 10 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
I, sincerely, thank all of you who replied.
2007-01-24 14:06:40 · update #1
I think it depends on your lifestyle, and how much money you'd like to spend.
If you put it in a bank CD (where it's insured by the government) at 5%, you could have about $2,000 a month in interest for the rest of your life.
If you were a little more risky and put it in a some index mutual funds (which I'd recommend -- because you're still pretty young) at 12% you could pull out $5,000 a month for the rest of your life.
If you're really set on retiring, you could move to a cheaper place to live (Texas in the US maybe, or perhaps the Philippines), and stretch your dollar out. Hope this helps!
PS - My mutual funds that I use are, BRSIX, CGMFX, and BUFSX (they are more risky then index funds, but they have averaged close to 20% a year).
2007-01-24 08:59:13 · answer #1 · answered by Buddy 2 · 1⤊ 0⤋
I would invest if I were you. Let's say you live until the age of 80, that's almost 40 years away, which leaves you with less than $12,500 a year to live on. That's not much. Ideally if you prepare well for retirement, you can travel and do things that you didn't have time to do when you were working and that may require extra money on top of your monthly expenses.
2007-01-24 08:44:30 · answer #2 · answered by °ĠיִяĿỵ° 4 · 0⤊ 0⤋
Can I Retire On 500k
2016-11-16 17:42:56 · answer #3 · answered by touchette 4 · 0⤊ 0⤋
Do not retire, unless you're only making like $10,000/yr and you enjoy your quality of life.
Instead invest most...except for some things that you may want or need, and retire earlier than expected.
2007-01-24 09:04:38 · answer #4 · answered by WildCat Guy 2 · 0⤊ 0⤋
No: There is too much life in front of you if you don't die at an early age. With that much resource you need to have it heavily invested. The income will permit you to have to work only part-time.
If your returns on investments are equal to or greater than the income from your job you have accomplish what we all need to do.
2007-01-24 08:43:23 · answer #5 · answered by whatevit 5 · 0⤊ 0⤋
I think that providing you had no on going mortgage repayments i think you could live reasonably well until you kick the bucket, however factors to consider would be retire to where? somewhere realisticly moderate priced, etc
2007-01-24 08:40:56 · answer #6 · answered by dai_parker 1 · 0⤊ 0⤋
I.) Do not retire YET...2.) Invest your capital.
2007-01-24 08:38:41 · answer #7 · answered by ramarro smith shadow 4 · 1⤊ 0⤋
I think you should wait until you're 50(ish) and have a million.
2007-01-24 11:54:30 · answer #8 · answered by njyogibear 7 · 0⤊ 1⤋
dude get real if this were true you wouldnt be on yahoo answers trying to determine the answer to that question would you?
2007-01-24 08:38:10 · answer #9 · answered by tabitha 1 · 0⤊ 2⤋
Only if you plan on dying soon.
2007-01-24 10:37:03 · answer #10 · answered by Anonymous · 0⤊ 1⤋