A million bucks well invested can generate $40,000 in spendable maney per year.
Do you still feel rich?
Money.
I’m not sure Manny likes being spent.
The hidden point in most of these books is live within your means. My grandmother used to say watch the pennies and the dollars will follow. My plan was to owe nothing once the house was paid for. Great feeling now to just shop with cash or do what I want without paying the 5-15% vig per year for the “pleasure” of buying something. That is the advice I give anyone who will ask. Easy, well no unless you are packing away big bucks from work. Remember, money is something you need if you don’t die tomorrow!
Have a million saved plus a house. It’s enough with pensions and SS. At some point you draw down the principle but not yet.
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If you don’t live too high, like now with the virus forces us to, you can pass some of it on, but as I tell my wife if we don’t fly first class now our daughter in law will.
Please, who is your financial advisor?
I’m not joking.
Thanks in advance.