[Sciolist]

[ QUOTE ]
What I did was invest money so that I had income from my investments equal to my fixed expenses

[/ QUOTE ]
I was thinking about this the other day, and wasn't sure how practical it actually was. Let's say for the sake of simplification that I need to hit $2k per month. That's $12k per year, so I'd need $240k invested.

The problem with this approach is that inflation will be 2 or 3% per year too, so it's a fairly short term plan. Furthermore, the places you store money to get good returns are often not easy to take money out of each month.

In my case, the fact I am paying 40% tax on interest sucks too. If only I didn't have a job that hit the top tax rate, poker is tax free for me...

It's also worth noting that op probably doesn't have $250k judging from the contents of his post.