Anonymous #1 60w

nope! you do not need 1 million dollars to survive

-2

Anonymous OP 60w

The average person makes almost 3 million dollars in their lifespan.

2

Anonymous #1 60w

This is taking the average US pay ($66,000) and multiplying it by the average length of employment before retirement (42 years)

2

Anonymous #1 60w

Yes thats true no one needs that at one time

0

Anonymous OP 60w

A millionaire is somebody with a net worth of $1,000,000 not one million dollars readily available to spend. The only people that have millions of dollars to expend are billionaires.

6

Anonymous #1 60w

Yea i know. You dont need that much in assets

1

Anonymous OP 60w

I mean if that person is retiring and it’s in their 401k that’s a pretty good amount it’s all about allocation per paycheck

1

Anonymous OP 60w

The average US home price is just under $400k. If a retired couple has the entire rest of their net worth in stocks, ($600k) they could safely draw out 4% every year without depleting their investments. That would give them an annual income of $24,000

1

Anonymous OP 60w

There are some houses that cost $1m in cities.

1

Anonymous #1 60w

Owning a house is not something that is necessary

1

Anonymous OP 60w

According to Zillow average rent is ~$2,000 month or $24,000 annually. If they had $1 million in stocks alone, they would be able to live off of $40,000 a year. After rent they would have $16,000 left over so this couple is likely worse off than the one that owned a house.

1

Anonymous #5 60w

the entire thing was a troll

1