[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 41 KB, 750x458, 1592493276390.jpg [View same] [iqdb] [saucenao] [google]
56214563 No.56214563 [Reply] [Original]

According to the financial geniuses of /biz/
>in America you need to retire with $3 million just to have a decent life.

Meanwhile the reality in Europe, and /biz/lets can't bullshit me on this because I live there
>$500k in an index fund yielding 8% annually is literally middle-class lifestyle with 10+ years working experience and double that at $1 million you are upper middle-class.

Conclusion:
1. /biz/lets are lying through their teeth to spread anxiety and confusion
2. Americans are really fucking poor in relative terms.

>> No.56214594

cope and seethe europoor

>> No.56214603

>>56214563
>8%
Try 2-4% after inflation.

>> No.56214620

>>56214594
>$50k in hospital bills after breaking leg
>calls me poor
kek, sucks to be american

>> No.56214631

>>56214563
>$500k in an index fund yielding 8% annually
inflation says hello

>> No.56214639

Saying you MUST HAVE $3M no matter what to have a decent life is definitely exaggerating.

If you live in a huge city like NYC or LA, then ya you'll probably want $3M+. If you live in a more rural or suburban place where stuff is cheaper and there's less entertainment and things to spend money on then it's more like $1.5-2M. I can't imagine ever needing more than that in the deep south or in a midwest flyover state

But yes, in general, Europe is a much cheaper cost of living than the US and a lot of the people saying you need multiples millions to retire comfortably aren't LARPing

>> No.56214644

Wow, another yuropoor seethe thread!

>> No.56214651

>>56214644
>make thread explaining how europeans are superior
>amerifat calls it seethe
do you even know your own language?

>> No.56214656

>>56214563
>>56214639
a lot of the cost is planning for later in life. in america, a basic nursing home is $10k/month, even in a MCOL area. if you're like "oh shit, what if worst case scenario i have to be in a nursing home for 3 years?" thats an extra $600k you need to have and never spend right then and there.

>> No.56214667

>>56214656
Tell me more about how Europe is superior? I don't have to worry about healthcare, school, nursing home etc etc

>> No.56214672

>>56214656
I'd rather die in the street than give $600k to a nursing home to feed me and change my diapers for 3 years. I'm unironically going to spend all my money before I get that old and if I have nobody else to take care of me I'll just off myself

>> No.56214684

>>56214667
you still have to pay for shit in europe
>>56214672
well you can go that way (honestly that's the best way) but you have to decide that now and go seek canadian healthcare before the time comes. your family is not gonna do that shit for you unless they have explicit legally binding instructions or something

>> No.56214687

>>56214620
>>56214651
You can’t amass $500k in Europe on the wages there, the best option is to amass it on USA wages then immigrate and exploit your collapsing social services

>> No.56214702

The medical insurance they need and 'don't have to think about' while employed resulted in vastly overpriced cost of care and drugs, as both pharma, hospitals and the insurance companies benefit from inflating to the costs.
Ironically most of the medical bills you will incur will be after you retire, so 'escaping the rat race' early means you are still on the hook to pay for all the big noses and tiny hats taking their % from the 20x overpriced products you'll die without.

>> No.56214703

>>56214620
thats only if you dont have health insurance (~10% of americans at best? it's like $100/mo at worst for health ins) and also dont argue it down with the hospital

>> No.56214708

>>56214684
>you still have to pay for shit in europe
Like what?
>>56214687
>You can’t amass $500k in Europe on the wages there,
true, but that's why I'm all in on crypto. Next cycle I will be there.

>> No.56214741

>>56214708
Nursing homes, elderly care, etc aren't for fucking free in europe retard

>> No.56214983

>>56214687
This is what most Asians do.
t. One of em.