this post was submitted on 08 May 2025
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I would like a small percentage of this. Hey just say, one percent.
I'm not greedy and I'm not too good at maths.
I would be fine for the rest of my life with 0,005% (10 million €)
Now that I think about it some more, I don't know anyone who could not live a great life with "just" 10 million. Over 80 years that's 125k/year!
High yield savings is currently at 4.66% at best right now...
With just 1 million in a bank account... That's 47k a year in interest. Considering that I don't need to work in this scenario (And thus wouldn't need a car, and all the other costs that come with needing to maintain stuff for a job)... I could probably make that work for the rest of my life.
At the risk of sounding sexist or misogynist, you could make it work unless you have a wife......oh dear.
I do have a wife. I pulled up our current budget and looked. We'd have to cut a couple of things but I could make it work pretty easily. It's the kids that would make it actually hard. But at this point they're spoiled enough. They'll live (they can live without food right?).
Edit: missed an entire word.
Edit 2: the real answer is that you can consume more than 47k.. if you have to spend an extra 5k a year, you could keep doing that for the rest of your life and be fine... you'll just make a little less each year until you exhaust the 1m... but you'll likely die before you do.
Example....
At 55k/yr, you'll exhaust at year 43. Which the kids would be long gone out the house by then which would lighten the consumption again... so really probably longer. Would probably last 60+ years as long as you maintain some frugality...
Edit3: This does assume that costs don't rise (fat luck here)... that the 4.66 is static (which it's not... and can go up or down)... etc... You could also invest in "riskier things" with higher returns to get more money... general market returns can be higher and are only a minor "risk".