nun
Thinks s/he gets paid by the post
- Joined
- Feb 17, 2006
- Messages
- 4,872
I just read an article on Yahoo that to be safe in retirement you need $2M. Of course it's a "how long is a piece of string" question, but I will ER with only $500k saved as I bought a 2 family house back in 1997. I live downstairs and rent out the 3 bedroom upstairs apartment. The mortgage will be paid off in a couple of years and the house will produce $30k annual income, that's the equivalent of having $750k earning 4%. I'd highly recommend buying a bit of rental property as part of a retirement portfolio, once the mortgage is paid it gives you a lot of financial independence.