Receive a $1m windfall at age 35 in 1990: "Hot damn, I'll never work again!"
Receive a $1m windfall at age 35 in 2021: "Hot damn, I'll actually be able to retire at 65!"
That checks #4, "Don't live in big cities"
Yep, where I enjoy living, 1m takes you comfortably to a ripe old age. I can see that if you want to live in the center of some popular city (or any city?), this won't really move the dial. Luckily, for me, that would be hell on earth.
Yep. It'll buy you a house, a nice start on your retirement, and maybe the ability to fund your kids education. But no more than that.
well if you prefer to live in the city like SF/NYC, it won't even buy you a house. a solid mortgage down payment and reserve fund - that's it.
Depends on your age.
$1M in 30s? Congrats you won the game.
$1M in 40s? Congrats you are doing well.
Yeah that's true, but still (of course depending on your age and location) it's enough to live in many many places without having to work again