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/biz/ - Business & Finance

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2098353 No.2098353 [Reply] [Original]

I have 500k in mutual funds.

Is this enough to supplement my income if I assume 8% return and siphon 2-3% of that?

>> No.2098358
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2098358

>8% return

>> No.2098419
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2098419

>>2098358

t. coincuck

>> No.2098443

>>2098358
40,000 in first year. Compound that by 5-6% for however long OP intends to hold. OP will probably be earning wagecuck tier money in a few years

>> No.2098495

>>2098419
I don't think the economy can grow at that rate any longer. 8% means doubling every 9 years.

>> No.2098501

>>2098419

This is assuming the world isn't actually going to shit (for real this time)

>> No.2098672

>>2098443
Actually it's not wagecuck tier after doing some calcs, you'll be earning less than 20k for many years sorry OP (unless your frugal as fuck)

>> No.2098687

>>2098672
Assuming u take out 2% a year, after compounding by 8% for that year

>> No.2098807

>>2098353
general rule of thumb is that 4% withdrawal rate should last a person through 30 years of retirement

depending on your age and your expenses 2-3 precent might work but that's not that much money in the scheme of things and doesn't leave a lot of flexibility in your budget