>>These days, fewer Americans, including millionaires, feel confident about their financial standing.
Which is what happens when you let Socialists run the country...
T-Bills are around 5%
Thats $50K + SS and not state taxable in many states.
Well above the median wage but well below private jet money.
YMMV.
Living like you have a lot less than a million makes living with a million a lot easier.
As the well connected wealthy corrupt in D.C., routinely send hundreds of billions in American cash to corrupt foreign countries...
Retirement for you? You’ll be lucky they don’t loot every penny/asset you have.
Thanks a lot Mr Biden...
I aint no millionaire but I just retired at 65 and see no problems in my wife’s and my future. I did work consistently since I’m 17 though.
I see a lot of van people here in the leftist sewer hole of New York. A lot of trailers too, people who have trailers on the back of their cars and they will park in a Walmart parking lot for the night.
If this domestic enemy occupation of our government is not defeated and the occupation extends for another 6 years and beyond, I really can’t see how any housing is going to be affordable if the occupation continues to assist the invasion of the country.
Imagine the population goes from 330 million to 500 or 600 million, housing will be impossible to afford and I think that’s the reason the occupation wants to rezone and outlaw single family houses to build housing projects instead.
Nobody gets to retire. Not even these millionaires, even if they are better off than we.
I would recommend these millionaires read “The Way to Wealth” by Benjamin Franklin.
Let the masses eat bugs, WEF.
Retirement is not all about money.
The way it looks, investing in people might be a risky alternative, but worth investigating.
The Pelosi’s, the Clintons, the the Biden's, etc. all made tons of money while claiming to ‘serve’ the nation. This generation of political lawyers and thieves (but I repeat myself) has morphed into a ‘wealthy’ class who care about nothing but themselves. I am sickened by these people.
I’m not saying that there isn’t a brutalized economy and that everything is more expensive than it should be, but this story sounds like a class warfare piece from the left.
Oh, and off the grid works for me! I’m not 100% there yet, but I’m getting there.
Wealth based on unconstitutional, unaccountable desperate Democratic vote-buying federal spending aside, how many U.S. millionaires understand that they'd probably be managing their wealth and retirement differently (imo) if they were aware of Supreme Court's clarification of Congress's limited power to appropriate taxes?
"Congress is not empowered to tax for those purposes which are within the exclusive province of the States." —Justice John Marshall, Gibbons v. Ogden, 1824.
I’ll be retiring when I achieve ambient temperature.
Inflation is caused by government, and 100% intended. It’s done so that you won’t be able to save up a lot of money and pass it down to your family.
Unless you are a big donor to the politicians or a “philanthropist”, or you set up a trust. Then you get a free pass.
Under five million? Stay away from NY and Californication. Select a free state and you’ll find the cost of living is much much much more affordable. While you’re at it, select a zero income tax state too
Painting your van with a toilet brush is so yesterday.
The rule is to assume to can take out 4% per year from your best egg.
4% of $1M is $40k/year, which is not that much in retirement to maintain a middle class standard of living.
Nonsense!!
Unless you decide to squander your money and live well above your means .... a million dollars will allow the average person to live comfortably.
A caveat would be that if you're living in an area whose cost of living is crazy high, e.g., NYC, San Fran, etc., a million dollars in retirement will not afford you the luxuries that you could afford in areas that boast a low/average cost of living.