A million dollars just doesn't go as far as it used to.
Tell me about it. A million means 600k after taxes. I'd probably upgrade units, rent out the old one, pay off the other bills we have, and still need to work. I think the minimum we would need, after taxes, for both of us to retire, would be around 3 million. And that doesn't count buying out the LLC's debt; if I wanted to do that, I would probably need around 10 million, just to have some leftover for us.
Not sure how selfish that is really, as you pointed out by the time you just covered your basic needs "get out of debt, shelter, a reliable means of transport" almost all of it would be gone.
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Tell me about it. A million means 600k after taxes. I'd probably upgrade units, rent out the old one, pay off the other bills we have, and still need to work. I think the minimum we would need, after taxes, for both of us to retire, would be around 3 million. And that doesn't count buying out the LLC's debt; if I wanted to do that, I would probably need around 10 million, just to have some leftover for us.
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