Offgrid Organic Farmer
Full time employment: Posting here.
$1MM today, using the 4% rule, only throws off $40K in annual income. For most here, that's insufficient to retire, especially early. If you retire at the FRA for SS, and you live in a low cost area, it's likely almost enough. You are correct...most here retire with $2-3MM, minimum, and plan on taking out 3-4% annually.
My pension pays me a bit less than $20k/year.
My investments provided me enough to buy raw land, build a farmhouse and set it up as an operating farm.
We raise livestock and garden, and we sell farm produce in a few markets. Our total annual income [pension and farm income] is still far less than $40k/year.
We have been here doing this lifestyle for 12 years.
And our portfolio has been growing.
I mentioned the Prius in a previous post, because we like them. Our farm is on solar-power. Our latest Prius is a plug-in, that we recharge it from our household solar-power system.