If you banked a million dollars in your savings, how long could you live off that money?

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Probably 20-25 years in a low cost country in SE Asia. Assuming $60k/yr spend at 4% annual interest compounding monthly.

You are ignoring inflation and tax, if you are only earning 4% that’s basically matching inflation so it lasts 18 years spending $60k

Banking it is the worst option. Government bonds would get you double the return and be just as safe. Other safe investment options are out there where you could build a portfolio to generate enough interest/dividends you could live modestly off.

I have around 1.1 M in markets , IRA and 401 K. And some cash.

Based on my current spending habits, probably for 10 years in the US. If I were to move to Costa Rica or something like that, it may get extended to 15.

12-13 years living as I do now.

I have $2.4m saved and am aiming for $4-5m before I retire.

I certainly wouldn't retire, even being 49. That money would get invested and stay untouched until probably 62, maybe longer just because we bought out house just 3 years ago.

Would not retire on it

Would maybe move to more of a hobby position though

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