LinkedIn User Breaks Down Why $10 Million Isn't Enough for Retirement

[Black Hans]

What type of is this? That tweet is the dumbest breakdown on money since 's "A Million Dollars ain't no real money" explanation and look at Dame now. People live on much less than a 10 million dollar retirement and they're doing just fine. If you gave yourself a 50,000/year budget on spending, it would take only 1.5 million of the 10 million dollars in 30 years. If your house is completely paid off, all you have to pay is the property tax, which would be what, 15,000 to 25,000 per year? In 30 years, that's like, 450K to 750K in 30 years? So around 2 million plus the gov't taking half leaves you with $3 million left over after 30 years of retirement. It's hard out here, man.

Oh yeah, I forgot about the interest developing on the money while it's in the bank

 

[Diondon]

That's why they say retire and move to Florida
Dude was to stay high rollin' in NYC

 

[levitate]

 

[Coco Loco]

That white math is a mf

 

[beenz]

the math isn't close to mathing. if u have $10M set for retirement, after a long career, your house should be paid off and your kids will be adults. it will not take anywhere close to $10M for retirement.

 

[desjardins]

They don't want their spending budget to be the same as a minimum wage annual salary

And it won't be
That 25k is completely disposable income, not the money they have to survive off
It's probably people who make $150k in NYC that don't have $25k a year in throw away money, that's over $2k a month

 

[Scustin Bieburr]

So rather than him reflecting on this and thinking "if *I* would struggle to live comfortably with literally millions of dollars, something needs to be done for those without the kind of resources I have. They're the majority!" He's essentially saying "stop shaming me for being rich. I'm just like you actually!"

 

[Cakebatter]

The idea of retiring in NYC is just ludicrous. The problem with his methodology is that $6.5 million invested can generate $200k a year in capital gains after taxes. So can you live off a Doctor's income? Absolutely.

 

[JNew]

Hes right for new york thats not enough.

 

[NatiboyB]

You can use me as an example I make just about 90K with military retirement and VA. I definitely have to work still. I was looking and it’s many countries I’d be able to lead a pretty decent life just based off of retirement.

So now I’m working some damn job that on paper I like but knowing that it doesn’t much matter I’ll pretty much never be able to escape the class I’m in.

The way things in this country are going I’ve started researching other places to live where maybe I can decide to not work or just do something to stay purposeful.

Basically if I stayed in the military town I retired in I’d be able to live a decent life in Lawton Oklahoma but I wanted to be near a larger city so now I have to keep up with the cost of living. But hey I’m not complaining about Kansas City I’ve been to pretty much all regional finance hubs this year so far and I don’t want to live in none of these cities and they are all full of homeless people, crime, and it’s just getting worse.

 

[Dorian Breh]

Cac is a retard

His business books probably aint mathing neither

 

[Crayola Coyote]

I stopped reading at “Sold company for 1 million”. man, shut the hell up, you rich

 

[the elastic]

You can use me as an example I make just about 90K with military retirement and VA.

You did 20?!

 

[jilla82]

Never forget that these people get rich because their connections and ability to leverage them. They aren't smarter than average. I guess you could make the argument that they have a high EQ when it comes to navigating their narrow social circles, but just understand this person is legit so stupid that he can't retire off 6.4m.

broke breh babble

post in OP is just engagement farming...
and like always yall go for it

 

[UpNext]

broke breh babble

post in OP is just engagement farming...
and like always yall go for it

"Hey guys, did y'all know that people say ridiculous things for attention. I'm so smart"


It's always one well actually goofy out there.