Could you retire on $550,000?

I think it depends on YOUR spending habits. Vermont is cold so there goes your heating bill. Cheap house? cheap everything with it for heat to escape meaning dollars thrown away. Better move down south say around the Gaston area where I can help you decide, buddy.:D
 
Move to Thailand or the Philippines ;) You could live very comfortably for a number of years on $550k.
 
I guarantee that you could live verrry comfortably in Thailand, or Indonesia on $550,000. In Indonesia it would cost you about 2-2.5K a month to live with both a driver and a maid. That should give you enough to go out once in a while for a nice dinner and some clubbing. Cars are more expensive than they are here but insurance is about the same. A nice three bedroom house in Jakarta (the most expensive place in indonesia) would cost you about $75,000-100,000 and for $300 a year you can buy insurance that will fly you to the states for medical treatment in case of serious illness or accident.
 
Dr sharp said:
Just wondering if its possible. If you were to live cheaply, and were into inexpensive hobbies could you do it? Would you buy a cheap house in say vermont for 200,000. would you rent? what would you do and can it be done?
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We rans some numbers once and found that we would need roughly $3M in the bank to retire and keep a similar lifestyle (mom, dad, kid, dogs) for the rest of your days.
 
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