Could you live off of 3% of a million dollars each year?

4 Answers

Jil Blue Profile
Jil Blue answered
I am not sure, give me 3% and let me live on it and I will let you know. Just to have an accurate test, I need to do live with the 3% for at least 10 years to get an accurate reading of the test before I file my official report.
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John
John commented
Let's put it this way the united states government figures you can live on about 1 percent per person with food stamps and medicaide
Dickie Allen
Dickie Allen commented
You can exist on 1% with food stamps and medicaid. I am retired and single Food stamps gives me $22 per month and medicaid pays for my medical. I could not make ends meet so I had to return to work at 71. With that I make less than $1,000 per month. I will probably loose my medicaid because I make too much so I loose all the rest as well.
John
John commented
Dickie Allen- right now i am living on 600-700 dollars a month.
Dickie Allen Profile
Dickie Allen answered
I could live very well and enjoy doing some things like travel. I could afford a new car. My car is a 96. I could afford a new RV trailer to live in. My trailer is and 88 and is starting to come apart at the seems. I live on way less than $1000/mo!  I would like to challenge obamaSS to live for a year like and on what I do. I am just one step away from living under a bridge and I am 72 soon to be 73. I hope I can work a few more years.
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John
John commented
I just asked a question about what it would cost for the united states government to put 1 million dollars in each persons account that is living at or below the national average for poverty,and only be able to live on the interest without touching the principle(the million dollars).this would wipe out poverty in the united states.30k a year just from the interest.
Dickie Allen
Dickie Allen commented
This would be so true. But ObamaSS has to pay for his stupid wars. What they spend on their wars they could do what you say but then the Fed would inflate the currency out or worse cancel the money so the little people would lose out in the end anyway.
Arthur Wright Profile
Arthur Wright answered
Sure can as many live off less
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John
John commented
I wish they would increase the number of raitngs allowed.this is messed up,i can not even rate all the answers to my own questions.
Mike McCarthy Profile
Mike McCarthy answered
3% of 1 million is $90,000 per year so i'd say, yes you can.

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