According to Expatistan[0] a typical family of four in the US need $55K/yr just to cover living expenses. At a SWR of 3% (Reasonable if you're young and looking to ride out a lot of market variance before you shuffle off rock) that means you need ~$1.8M fully invested just to live a typical middle class existence.
If you say you have $2M in the bank some might say you're 'rich'. If you say you earn $55K/year most people certainly won't. The best case scenario of course, is to have both.
According to Expatistan[0] a typical family of four in the US need $55K/yr just to cover living expenses. At a SWR of 3% (Reasonable if you're young and looking to ride out a lot of market variance before you shuffle off rock) that means you need ~$1.8M fully invested just to live a typical middle class existence.
If you say you have $2M in the bank some might say you're 'rich'. If you say you earn $55K/year most people certainly won't. The best case scenario of course, is to have both.
[0] https://www.expatistan.com/cost-of-living/country/united-sta...