You have a million dollars. No job, what would you do?

Follow this rules:

No job.
Want to spend $60,000 a year
Want to make a reitrement fund that makes 150% your actual $60,000 income

I would put half of it into something that has guaranteed returns like a savings account, which would be a minimum of 5% these days (and probably going up in years to come).

So that's $25k of guaranteed income every year.

Then I'd put the other half in more dynamic (yet relatively safe) investments, which will get you, on average, 8% a year... That will vary, but over the long run, you will have more money from year to year... which I predict would give you your $60k a year.

When interest rates go up, then you could put it all into a savings account to avoid the volatility.

Then I'd put $4k (or whatever the max is) into a Roth IRA. Since you've already paid taxes on your money, your investments will grow tax free and will not have any tax when you withdraw. If you start early enough, you will plenty of money for when you retire.

However, $60k a year may not seem so much 20-30 years from now because of inflation.

It's sad to think that if you have $1 million in cash right now, it doesn't necessarily mean you're set for life.

I've had it up to here with ya "rules", I'm outta here ... you can keep the shoes

Here's my address: just kidding..you really have a million thanks awesome. 5% return on a 1 million dollar investment is 50k. You should be able to make 50k a year by investing in a conservatove portfoilio. Of course, this isn't investment advice, just a thought of a direction you could take.

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