Rule of thumb for a retirement portfolio is to withdraw 4% per year. 4% of $1M is $40k. People survive on 40k/year, but you’d be considered pretty low income in most areas.
Big point being that in the US we have many cost of living expenses that the UK does not (or rather, you get it via your taxes)
Rule of thumb for a retirement portfolio is to withdraw 4% per year. 4% of $1M is $40k. People survive on 40k/year, but you’d be considered pretty low income in most areas.
Big point being that in the US we have many cost of living expenses that the UK does not (or rather, you get it via your taxes)