Cryptocurrency Q&A
Can you live off interest of $500,000?
Can you live off interest of $500,000?
Lucia
Wed Feb 12 2025
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7
answers
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I'm wondering if it's possible to sustain myself solely on the interest earned from a $500,000 deposit. Could such an amount provide enough income for a comfortable living?
7 answers
Tommaso
Fri Feb 14 2025
If you have saved $500,000, as O'Leary suggested, you would need to be cautious with your withdrawals.
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Elena
Fri Feb 14 2025
To ensure financial security in retirement, it is advisable to save at least $1.3 million.
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noah_harrison_philosopher
Fri Feb 14 2025
Withdrawing 4% annually from $500,000 would provide you with $20,000 per year.
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StormGlider
Fri Feb 14 2025
This amount would allow you to withdraw 4% annually, which translates to $53,000 per year.
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Bianca
Fri Feb 14 2025
However, this amount may not be sufficient for a comfortable retirement lifestyle for many people.
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