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by midasuni
949 days ago
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Pretty easy really. But what does being a millionaire actually mean in terms of what you can do with your life? Is your goal really “become a millionaire”? Not “have the ability to see the world” or “live in a nice house with kids an a dog”, just “have 7 figure on a spreadsheet of what I have managed to accumulate” |
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7 figure on a spreadsheet enables a lot.
An unregistered savings account in one of Canadian banks (just a point of reference, not sure if US has better) currently offers 4% yearly. That's 40k a year off the million. Enough to retire with kids in a LCOL country or travel year round as a nomad with a base in LCOL country.
Build a little bit more wealth and all those LCOL options turn into MCOL. E.g. northern Italy.
All while just being a working professional. It'd be unheard of in Europe to have this kind of options after just a couple years of work.