Amusing, but false. Retired and live in HCL area. Our bare minimum spending in a 'do nothing, go nowhere, buy nothing, stay at home kind of a pandemic year (i.e. 2020) was $150K. No liabilities, no mortgage.
45K here most probably qualifies you for food stamps.
So no, 2M NW wasn't gonna cut it for us.
That would be a miserable life - $150,000 for doing nothing, but surviving.
I have travel 3 European countries as my of my 60,000 a yearly budget. I love my low cost area.
This stock market has created a lot of millionaires. It can also take it back.
I see a very large number of people in a state of euphoria over their new wealth because of stocks, Bitcoin, real estate.
I am forever the pessimist but I would feel a little uneasy right now letting it ride.
Easy come easy go, and a lot easy money has been made.
Congrats. No offense but I would call you a house husband not retired. You went from a double income household to a one income household. Plus I am assuming your wife’s employer provides your healthcare. Your expenses for healthcare could be $30k/year for just healthcare if there was no other source. Again congrats for your milestone, but it does irk me when people say they are retired but their spouse works and provides healthcare. With this concept my wife retired 20 years ago when she stayed home with the kids. Not the case. We went from a two household income to one income.
Amusing, but false. Retired and live in HCL area. Our bare minimum spending in a 'do nothing, go nowhere, buy nothing, stay at home kind of a pandemic year (i.e. 2020) was $150K. No liabilities, no mortgage.
45K here most probably qualifies you for food stamps.
So no, 2M NW wasn't gonna cut it for us.
Amusing, but false. Retired and live in HCL area. Our bare minimum spending in a 'do nothing, go nowhere, buy nothing, stay at home kind of a pandemic year (i.e. 2020) was $150K. No liabilities, no mortgage.
45K here most probably qualifies you for food stamps.
So no, 2M NW wasn't gonna cut it for us.
We live in an above average Cost of Living city but the community where we live is HCL. We live on $200K a year, which does pay for country club membership dues, some travel and guard gated HOA. We cannot live on $45K a year as our home already costs $30K a year, with no mortgage and no home maintenance included in the amount. $2M won't allow us to live here. However, if all we have is $2M we would choose to live in a different home and play limited golf at public courses. We are adaptable.
All places have their advantages and disadvantages. Employment led more to my location than anything else.
Now that I'm retired, it works better than when I was working, much less driving -
Amusing, but false. Retired and live in HCL area. Our bare minimum spending in a 'do nothing, go nowhere, buy nothing, stay at home kind of a pandemic year (i.e. 2020) was $150K. No liabilities, no mortgage.
45K here most probably qualifies you for food stamps.
So no, 2M NW wasn't gonna cut it for us.
All places have their advantages and disadvantages. Employment led more to my location than anything else.
Now that I'm retired, it works better than when I was working, much less driving -
Here in the SF Bay Area our essential spending for two is $45K/year and discretionary routine and non routine spending averages about $65K/year. Total $110K/year for a comfortable yet modest standard of living.
Here in the SF Bay Area our essential spending for two is $45K/year and discretionary routine and non routine spending averages about $65K/year. Total $110K/year for a comfortable yet modest standard of living.