Originally Posted by
rickair7777
$1M can't be anywhere near enough to retire early.
Very true... $2 million is really what's needed to live a fairly upper middle class lifestyle with longevity. That produces an income of $100k/yr which will work for most places.
Originally Posted by
rickair7777
If too many people rack up a big nest egg and retire, there will be nobody left to do the work. Inflation and wages will rise, your lawn guy would then charge $100K to mow your lawn, and your employed neighbor who's now making $2M/month could afford it.
This statement shows a gross lack of understanding of economics, human nature, and investments...
1- not enough people will be following the "live beneath your means" plan
2- investments, especially a properly diversified portfolio, will always keep up with inflation... companies have to raise prices too
3- the entire scenario you described is patently absurd.