Re: How much $ is needed to never have to work again?
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What about buying an open market annuity?
Obviously maybe not suitable for a younger person. Not sure if these are available in The US, or what the rates are, but I'll convert some example UK annuity rates to $US
60 year old male
$730p.a. per $10000 or
$460p.a. per $10000 for an escalator annuity
so if you need $35000 per year to live, you can buy an annuity for around $750,000
Of course if you're younger you'll need a lot more.
The good news - if you're a smoker, you need a lot less.
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keep in mind that the annuity you need increases disbursement each year by the rate of inflation.
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