[tasuki]

Agree with most of your points!

Just one thing: you don't need a "buy/rent a jet" income to not have to commute to work daily. Retiring early appears to be surprisingly easy with decent income and good spending habits. Taking a year or two off even more so. Eg with the 80k (the more expensive car you mentioned), you can live handsomely for 4+ years in South-East Asia or Eastern Europe.

[Qwertious]

>Just one thing: you don't need a "buy/rent a jet" income to not have to commute to work daily

$3mil let's you live on $50k/year for 60 years. And realistically, more than that due to interest - 2% of 3mil is 60k, so if you have it well-invested you could live off it with $50k/yr indefinitely.

[IkmoIkmo]

With that kind of money (i.e., so much money you can risk not earning anything for 10 years straight) you can open yourself up to a higher risk-profile.

Stocks for example have averaged, inflation adjusted, about 6% in the past 50 years. 6.6% in the past 60 years and 8.2% in the past 40 years, for comparison. So let's say 6%. This is inflation adjusted, and dividends reinvested.

At that point you're earning $180k a year. Even if you spend $100k, you'll be accruing money over time while maintaining purchasing power. In 50 years, you'd add another $4m of inflation-adjusted wealth for example, but that's wildly underestimating reality as that doesn't figure in the compound effects of adding $80 to your wealth each year.

[ThrustVectoring]

The amount of principle required to sustain $1 of annual real consumption in perpetuity costs between $25 and $35. $50 is far beyond enough - you'll die with far more money than you started with.

[chii]

in which case, you get to put your kids in a great position.

[AstralStorm]

That is presuming you weren't essentially forced to pay this early to help your kids in the first place. Say, housing, education (incl. extracurricular), incidentals.

The truth is, most people can barely afford to save due to aforementioned high costs.