Could you retire on $1 Million?

There is the 4% rule, popular in the FIRE movement (Financially Independent, Retire Early). It is a rule of thumb of how much you can withdraw from your portfolio per year, taking into account future returns and a 30-year retirement horizon. So, roughly, will you get by with $40,000/year? If so... maybe you could? Even within the same country, if you live in a big city versus countryside the cost of living is vastly different. So your milage may vary.

No. Definitely not with a family in the US. I tried "retiring" for a year about 6 years ago, and living off the income of my digital products. I realized it is more exciting to be building.

No, Mumbai, India is very expensive. $1 million will only get me a 3-4BHK house

If the 1 million dollars is in India. Yes with this amount you can retire here and live a comfortable life

Not living in Singapore! No!

I won't. While monetary benefits are just one way of seeing work, I just love working. And I don't think I'll be happy without doing what I love. So retirement isn't my cup of coffee. :)

I thought I could but $1M is too little now, giving all the inflation is happening everywhere 😅

Depends on the country that you are living in. In US, maybe No. But in India, definitely yes.

You can if you know how to make that money grow.

No, it's boring not to work.

NO. Also, whether $1 million is enough for retirement depends on factors like your lifestyle, expenses, investment strategy, and inflation.

$1M is where you can start scaling, but not to retire!

Absolutely. Giving it's $1m without tax, that's lot.

Nope, I've got two kids to put through university and help buy their first home *nervous laugh*

I would say yes as long as I made the right moves with it!

Not sure. Depending upon your life style you might or might not. But If you can make some really awesome investments you might. But its a bit of luck TBH

Of course not.. Only if I can buy an AI to make money for me with $1 million.

Are we talking about 1m liquid with no other assets (liquid or otherwise). Presume no other assets are in play and we've got a way to make 4-8% a year (market is stable and you're diversified enough) Take home pre tax: 40-80k After Tax/ take home (Vancouver BC) 30k - 58k No kids / partner / dependants in this scenario Rent (average): 2300/month = $27600 Food: 500/month = 6k = $33600 already In a bad market year you'll be dipping into that principle / making next year a little harder. I guess it depends on your run rate and how long you anticipate living but I don't see it as a sustainable retirement plan if you're retiring early.

When living rural and on low cost, than yes.

No you can’t. Making your money grow isn’t retiring you still have to put effort to invest it