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it’s fucking insane to me that there was no such thing as a billionaire in those days, and now it’s like if you’re “just a millionaire” you’re just small potatoes

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SnotFlickerman@lemmy.blahaj.zone ⁨1⁩ ⁨month⁩ ago
Eh, Rockefeller is traditionally considered the first US billionaire, which precedes the creation of Batman by a bit of time. It is wild that we’ve gone from it being a first to commonplace in 100 years.

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- tdawg@lemmy.world ⁨1⁩ ⁨month⁩ ago
  From my BIL accountant the rule of thumb is 20x your yearly target. Want to life off of 100k? You need ~2mil in investments to be able to take 100k out every year and (more or less) keep the 2 mil (this is based on long term market averages so ymmv)
  
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  - WalrusDragonOnABike@lemmy.today ⁨1⁩ ⁨month⁩ ago
    Usually 4%/x25 has been considered the rule-of-thumb (and that’s based on a study that considered dying broke okay; not based on capital preservation). x20 would usually be considered fairly aggressive (although that depends if you are including other things like SS benefits if you are in the US).
    
    Given the super-high CAPE ratio currently, even 4% would be be aggressive if you want capital preservation. Something like 3%/x33 would be more geared towards that.
    
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    tdawg@lemmy.world ⁨1⁩ ⁨month⁩ ago
    Ya you’re right. I misremembered. It was 2.5 mil which would be 25x. Either way, the other person’s point stands it takes literal millions to retire
    
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