lonewulf66 t1_j52ugjw wrote on January 20, 2023 at 12:28 AM

Reply to comment by Bryllant in Can I go to space with 500k? by SmoKKe9

There's no way you live off the interest of 500k lmao. Assuming a very generous interest rate of 5% (Highest I've seen so far is 3.3%) that's 25k a year.

Bryllant t1_j52w43c wrote on January 20, 2023 at 12:40 AM

It supplements my social security very well, it will also be growing as you wait to retire. Your math is exactly right. 25k a year is a great help, but can’t be the only thing.

sintos-compa t1_j53nhbw wrote on January 20, 2023 at 4:02 AM

So the answer is no. You cannot live off the interest of 50k

Bryllant t1_j56wllf wrote on January 20, 2023 at 8:39 PM

500k, invested in dividend paying stocks.

andrewdok t1_j52wdg8 wrote on January 20, 2023 at 12:42 AM

Yep, and if you are actually spending the interest instead of letting it compound, inflation is going to make that 25k worth less and less as time goes on.