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Dont get it twisted.(lemmy.ml)

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Grayox@lemmy.ml
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Pipoca@lemmy.world
11 points

It’s generally considered safe to withdraw 4% of your nest egg each year. Someone with 2 million can support an 80k/year retirement.

The average multimillionaire is literally just any person with a six figure salary who has been saving for retirement and is nearing retirement. You basically can’t retire without at least being a millionaire.

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assassin_aragorn@lemmy.world
5 points

Yeah the big difference is now much it takes to amass that money. If we have a capitalist system, there’s nothing wrong with workers saving money to retire with a few million.

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