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Bernie is asking you. That's all hes got. Sorry guys, no one else can do it.
(lemmy.dbzer0.com)
this post was submitted on 07 Jul 2025
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Ehh. If you divide it into 10 chunks of $500k, and each of those invest it in a middling risk thing like vanguard and get a 10% return, that's like $50k/year without doing any work. That's well above the poverty line.
Side note: Rich people sort of have basic income because of stuff like this, and that's fucked up.
The problem is that's not a sustainable withdrawal rate. Also it's 10% average before factoring in inflation, so I'm real dollars it's close to 7% on average, but some years are a negative return, where you're eating into the principle, and require a portion of the up years to make up for those.
An indefinitely sustainable withdrawal rate is closer to 3.5%.
Also the federal poverty line is horrendously out of touch.
And that's literally how retirement accounts work, so it's not really that fucked up a concept
Sure, it wouldn't be an easy live starting with $500k, but I think with strict budgeting and low costs you could stay in the black and grow your principle. And if you get any job at all on top of it, it's even easier.
Anyway, yeah, was just spit balling how much a difference the money could make.