If I really tried hard, how little can I live off of…
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If I really tried hard, how little can I live off of annually?
I did some research. Apparently, if a million dollars is invested, it will last you about 36 years if you spend 40 grand a year. But can I take it down further and live at less than that per year? Is 35 grand uncomfortable? How about all the way down to 30?
I spend about 100 bucks a month on "mindless" entertainment, 125 bucks a month for my phone and internet, and 52 bucks a month for my gym membership. There are of course other expenses, but I always have them covered. Those that I mentioned are simply the ones I intensely keep track of. Everything else is just the inevitable stuff like car insurance payment, gas, groceries, et cetera. And I never pay attention to those inevitable stuff because I will not live well without them.
So how low can I go on annual expenses and still afford the life I have now?
Thanks.
#finance
source
I did some research. Apparently, if a million dollars is invested, it will last you about 36 years if you spend 40 grand a year. But can I take it down further and live at less than that per year? Is 35 grand uncomfortable? How about all the way down to 30?
I spend about 100 bucks a month on "mindless" entertainment, 125 bucks a month for my phone and internet, and 52 bucks a month for my gym membership. There are of course other expenses, but I always have them covered. Those that I mentioned are simply the ones I intensely keep track of. Everything else is just the inevitable stuff like car insurance payment, gas, groceries, et cetera. And I never pay attention to those inevitable stuff because I will not live well without them.
So how low can I go on annual expenses and still afford the life I have now?
Thanks.
#finance
source
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