Is a fortune of €5,000,000 enough if you only have about 70 years left to live and are down to earth?
Also down to earth!
(2 votes)
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According to the Trinity Rule (also known as the 4% Rule), you should never run out of capital if you invest it and spend 4% annually. That would be €200,000 per year, so yes, that's more than enough.
Yes and no. If the assets are available in cash form: Yes.
If you own real estate or equipment that your company needs for production, you'd first have to monetize it. I can't say whether you'd want to do that. Perhaps you'd like to leave something behind for your descendants.
Hmm… theoretically yes, but if you become dependent on care at some point, you should hire someone privately to look after you.
Otherwise you can only keep 5000€ and have to hand over the rest
If you are down-to-earth and down-to-earth to boot, you can manage to live off investment income alone, even with a million or less.
Of course. If you invest 60% in low-cost global equity ETFs like the Invesco FTSE All-World ETF and 40% in euro-hedged global bond ETFs, you could withdraw 2.7% of your €5,000,000 each year, adjusted for inflation.
Yes! You should be able to cope with that, especially if it's invested well and profitably.
If €6,000 a month is enough for you, then that's definitely fine.
Nobody can tell you what will happen in 70 years.
We once had inflation so great that a loaf of bread cost a million marks.
if you pay in cash 😁
If you can somehow counteract inflation and possible wealth taxes, I think so.
Enough, but who has 5 million? That can't be achieved through honest work.
It depends on your monthly expenses. That's why it's impossible to answer that question.