emmanuel Onuoha

Could you retire on $1 Million?

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I won't. While monetary benefits are just one way of seeing work, I just love working. And I don't think I'll be happy without doing what I love. So retirement isn't my cup of coffee. :)
emmanuel Onuoha
@senthil99nathan interesting take
SAK
A big No,
emmanuel Onuoha
@attirebysak why tho
Margret Rhyme
Only if I had invested them somewhere where I am earning a good 5 to 10% return.
emmanuel Onuoha
@margret_rhyme that’s what I’ll do too.
Jagtar Singh
If the 1 million dollars is in India. Yes with this amount you can retire here and live a comfortable life
emmanuel Onuoha
@jagtarsingh2 was telling someone else the same thing.
Kevin Brendel
In Germany you would have to live VERY frugally and/or be very lucky with your investments to retire on that money. That is, if you still expect to live for quite a few decades.
emmanuel Onuoha
@kevin_brendel I heard Germany is expensive to live in
Axel Wikner
Depends on where, your life style, and age. But for an middle-class life style in any western country, that is more often that not a no.
emmanuel Onuoha
@axel_wikner I totally agree. It all depends on the nation
Stefan Pettersson
There is the 4% rule, popular in the FIRE movement (Financially Independent, Retire Early). It is a rule of thumb of how much you can withdraw from your portfolio per year, taking into account future returns and a 30-year retirement horizon. So, roughly, will you get by with $40,000/year? If so... maybe you could? Even within the same country, if you live in a big city versus countryside the cost of living is vastly different. So your milage may vary.
emmanuel Onuoha
@stpe this makes a lot of sense. I agree it’s also hugely dependent on the country one is in
Bryan McAnulty
No. Definitely not with a family in the US. I tried "retiring" for a year about 6 years ago, and living off the income of my digital products. I realized it is more exciting to be building.
emmanuel Onuoha
@bryanmcanulty definitely more exciting to be building for sure.
Novie Dizon
in the Philippines, YES!
emmanuel Onuoha
@novie_dizon I agree. It’s gonna be more than enough to live decently
alexs boscan
$1M is where you can start scaling, but not to retire!
emmanuel Onuoha
@alexsb it can help you retire in some countries