The Real King Gordon@lemmy.world to Asklemmy@lemmy.ml · 6 days agoIf you suddenly had 5 million dollars today, what would you do with it?message-squaremessage-square75linkfedilinkarrow-up154arrow-down12
arrow-up152arrow-down1message-squareIf you suddenly had 5 million dollars today, what would you do with it?The Real King Gordon@lemmy.world to Asklemmy@lemmy.ml · 6 days agomessage-square75linkfedilink
minus-squareMNByChoice@midwest.sociallinkfedilinkarrow-up10·6 days agoUse the “4% Rule”, this would be an inflation adjusted $200K per year every year (more or less, the “4% Rule” is more of a great observation than a rule). I would live on a third, give a third to my family, and a third to local organizations.
minus-squareecho@lemmy.todaylinkfedilinkarrow-up4·6 days agoThe 4% rule is kind of crappy and even it’s creator has modified it.
minus-squareMNByChoice@midwest.sociallinkfedilinkarrow-up3·5 days agoWhat do you mean? It is great for planning purposes. I am well versed in it, but “crappy” arguments split both in “too low” and “too high”.
Use the “4% Rule”, this would be an inflation adjusted $200K per year every year (more or less, the “4% Rule” is more of a great observation than a rule).
I would live on a third, give a third to my family, and a third to local organizations.
The 4% rule is kind of crappy and even it’s creator has modified it.
What do you mean? It is great for planning purposes.
I am well versed in it, but “crappy” arguments split both in “too low” and “too high”.