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lonewulf66 t1_j52ugjw wrote

Reply to comment by Bryllant in Can I go to space with 500k? by SmoKKe9

There's no way you live off the interest of 500k lmao. Assuming a very generous interest rate of 5% (Highest I've seen so far is 3.3%) that's 25k a year.


Bryllant t1_j52w43c wrote

It supplements my social security very well, it will also be growing as you wait to retire. Your math is exactly right. 25k a year is a great help, but can’t be the only thing.


sintos-compa t1_j53nhbw wrote

So the answer is no. You cannot live off the interest of 50k


Bryllant t1_j56wllf wrote

500k, invested in dividend paying stocks.


andrewdok t1_j52wdg8 wrote

Yep, and if you are actually spending the interest instead of letting it compound, inflation is going to make that 25k worth less and less as time goes on.