It is just an insane amount of wealth...
For instance...
If you went to retire at 50 and decided, "I want to be able to spend $100K a year on myself for the next 30 years". How much money do you need?
$3 million. right? that's what you would normally think, easy math right?
If you have all that money in the stock market and you made 5% interest at the of 30 years you would probably still have $3million to give to your kids when you die. Starting at 63 years old you could spend even more money on yourself with social security.
$100k/yr doesn't sound like much to some, but that would put you in the 10% wage bracket. Most people in the US are getting $50k or less a year.
It's not about the wealth you accumulate its about the passive income you generate.
For instance...
If you went to retire at 50 and decided, "I want to be able to spend $100K a year on myself for the next 30 years". How much money do you need?
$3 million. right? that's what you would normally think, easy math right?
If you have all that money in the stock market and you made 5% interest at the of 30 years you would probably still have $3million to give to your kids when you die. Starting at 63 years old you could spend even more money on yourself with social security.
$100k/yr doesn't sound like much to some, but that would put you in the 10% wage bracket. Most people in the US are getting $50k or less a year.
It's not about the wealth you accumulate its about the passive income you generate.
