Quote:
Originally posted by Bad_Rich_Chic
$3 million in Treasuries (at 3% paid semi-annually) would give you $90K per year (subject to fed income tax). I could live on that (particularly if I move to Podunk), but I couldn't play around with it, particularly given that I'd need to roll part of that back into principal against inflation. I'd like enough extra to be able to screw around and play investor, start a home business selling my crappy paintings, found an etiquette school, whatever. $5 mil would generate enough extra to play around a little bit; $10 mil would be A-OK. As they say: it's fuck you money, but not fuck everyone money.
For your entertainment: Compound Interest Calculator
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I'm assuming we can cash out the house and buy a nice cottage and I don't have to live off the $3 million alone. Plus, I've been squirreling away some nuts so I can keep knocking this number down. When my low number gets below $1 million, I may soon have a forwarding address.
(By the way, consider using the "annuity" calculator on that site instead; you don't necessary have to conserve principal for ever. $3 million at 5% gets you a $150,000 annuity for 60 years; now, that doesn't give you an inflation hedge, but if you can set aside some other assets as the inflation hedge and have a paid up house, $150,000 goes far in the sticks).
