Your age would be 60, if that is important to the question.
2007-09-09 06:16:41 · 5 answers · asked by Patches 5 in Business & Finance ➔ Personal Finance
Yes I would be set to live a comfortable life, I wouldn't quit my job, but I wouldn't have the financial worries I now have.
2007-09-09 06:25:03 · answer #1 · answered by paulaj2006 3 · 2⤊ 0⤋
There isn't sufficient information to provide a realistic answer. Do you own a home, or would you have to buy one with the money? What are your annual expenses? What is your debt service? What is your tax bracket? If you look at assets vs liabilities and do a 25 year cash flow projection, you'll get a better idea. Right now, 10 year US Treasuries deliver $4,370 for every $100k. FDIC insured moeny market account can deliver 1%+ more. If you are 60 and have expenses below $80k, you can do this easily.
2007-09-09 14:40:48 · answer #2 · answered by Anonymous · 0⤊ 1⤋
Yes, on that much money, you could live nicely on just the income and not dig into principal, so you couldn't run out unless you went wild with million dollar homes, expensive cars, etc.
2007-09-09 13:45:32 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
Assuming you draw 8%, that gives you $176,000/year. A decent mutual fund will allow you to draw 8% and still leave enough to cover inflation. I could live VERY comfortably on $176,000.
2007-09-09 14:56:26 · answer #4 · answered by STEVEN F 7 · 2⤊ 0⤋
Depends on
how long your life will be, nobody knows that.
what you spend it on.
how many people attach to you because you have money.
I am sure there are other factors.
2007-09-09 13:29:50 · answer #5 · answered by Anonymous · 0⤊ 1⤋