[MustardtheBallCarrier]

$11M is absolutely enough to retire on, unless you want to lead a stupidly extravagent lifestyle. My wife and I have calculated it and our number, including our house in the crazy-expensive Bay Area, is around $2.5M. Assuming you get ~5% annual real returns (which isn't insane), $11M is giving you over half a million dollars a year. You can't live on that? I sure could!

Granted, he's probably got less than that, but say he has $5M in the bank, that's still ~$250k a year! My wife and I make a bit over half that. It's plenty to live on.

With Fed, state and property taxes, a mortgage on a medium-nice house in SF/LA/NYC areas, private school and child care for the kiddies, healthcare and other insurance, utilities, gas, food, etc., you can blow through half a million a year in very un-exciting fashion.  That is a comfortable life one would be fortunate to lead, but it is not stupidly extravagant.

[MustardtheBallCarrier]

$11M is absolutely enough to retire on, unless you want to lead a stupidly extravagent lifestyle. My wife and I have calculated it and our number, including our house in the crazy-expensive Bay Area, is around $2.5M. Assuming you get ~5% annual real returns (which isn't insane), $11M is giving you over half a million dollars a year. You can't live on that? I sure could!

Granted, he's probably got less than that, but say he has $5M in the bank, that's still ~$250k a year! My wife and I make a bit over half that. It's plenty to live on.

With Fed, state and property taxes, a mortgage on a medium-nice house in SF/LA/NYC areas, private school and child care for the kiddies, healthcare and other insurance, utilities, gas, food, etc., you can blow through half a million a year in very un-exciting fashion.  That is a comfortable life one would be fortunate to lead, but it is not stupidly extravagant.