I think people just call into these shows to humble brag. Like duh, you can retire on that much money. Hell, I could retire on $700k at 41 years old, but I don’t have that kind of money as of yet
Caller : Can I Retire On $3 Million
Caller: Um, so I've... I'm debt-free. Um, I have about $3 million, and I'm curious if that's enough to comfortably retire.
Dave Ramsey: It should be! It's a lot of money. Well done.
Caller: Thank you.
Dave Ramsey: How old are you?
Caller: Uh, 58.
Dave Ramsey: Okay. Well, we have to define "comfortably," and we have to define uh what you're going to do with this money.
Because obviously, you're not stupid or you wouldn't have ended up with $3 million. But if you suddenly grew stupid, uh you could get rid of the 3 million real quickly and not retire, right?
Caller: Correct.
Dave Ramsey: So, if you had it reasonably invested and lived on that income, obviously you could retire.
So if it were me, I would have put that in good growth stock mutual funds making 11% or 12% and lived off of about 10% or less, which means I would have somewhere around $250,000–$300,000 a year to live on.
I think I could struggle through.
And the money would never,and the principal would never deplete substantially during that time, and I could do that in perpetuation.
If you can do that, then you're going to be just fine.
If you want to put it in CDs and make 2%, well, you're going to have to live on very little while your $3 million sits there and deteriorates in its purchasing power.
🇨🇳 Meanwhile in China
Driverless delivery trucks are quickly taking over.
No limits on drivers hours, no salary or insurances for the employee drivers & the data will soon show they are safer.
This is the 4th Industrial Revolution.
So you're telling me if I own 5,000 shares of $JEPQ at around $0.64 monthly dividend
I will get $3,200 every month for literally doing nothing
You could retire off of that income.
Why aren’t more people doing this?
It's hard to believe that every one of these beloved faces is no longer with us.
Between them, they gave us some of the most memorable moments in one of the greatest Christmas films ever made. While they'll always live on every holiday season through Home Alone, it's still inc