▲ 1150 ▼ After donating $1m to Trump and axing DEI, Target CEO watches his salary get chopped in half by tariffs and angry shoppers (sinhalaguide.com) submitted 1 year ago by Merlu@lemmy.ml to c/upliftingnews@lemmy.world 156 comments fedilink hide all child comments Karma is a removed!
[–] FlashMobOfOne@lemmy.world 21 points 1 year ago* (last edited 1 year ago) (1 child) You need enough capital that you can make enough in capital gains and dividends to live off of in a 4% down year. Most people in this country could live off of $2,500,000 if it's stashed in an index fund. $9,000,000 is more than anyone ever needs. permalink fedilink source parent hideshow 2 child comments replies: [–] jjjalljs@ttrpg.network 15 points 1 year ago (4 children) You can get 4% from a high yield savings account. That's insured. That's still $360,000 a year (taxed as income). You don't need to expose yourself to a lot of markets and "down years" . I mean, if the us government collapses and insured accounts are lost we all have bigger problems. At 2.5mm you'd still be fine at 4%. Six figure salary for doing jack squat. Of course, not everyone can budget and they might burn into their principle. But, like, don't do that. 🤷 permalink fedilink source parent hideshow 8 child comments replies: [–] cabb@lemmy.dbzer0.com 10 points 1 year ago* (last edited 1 year ago) (1 child) Sure but inflation will eat into that over time. The point of the market approach is you can withdraw that amount in real dollars for 30 years after accounting for interest and inflation permalink fedilink source parent hideshow 2 child comments replies: [–] jjjalljs@ttrpg.network 4 points 1 year ago That's a good point. I think that's why most financial advice recommends a mixed portfolio. Index funds that follow the market, but also like bonds and safer things. If I luck into seven figures of money, I think I'd hire a professional to give advice. Or at least do a lot of research. permalink fedilink source parent [–] tomkatt@lemmy.world 7 points 1 year ago (2 children) Yields are down a bit right now, unless you're willing to go with a sketchy, not sure if FDIC insured "bank." Currently I'm seeing rates of around 3.5%, or 3.63 APY. permalink fedilink source parent hideshow 4 child comments replies: [–] Corkyskog@sh.itjust.works 2 points 1 year ago If you look at internet saving banks they have yields up to 4.4% right now. permalink fedilink source parent [–] jjjalljs@ttrpg.network 1 point 1 year ago Betterment offers 4%, insured up to $2m. I think you can go higher with a refer-a-friend , but that program might be over. permalink fedilink source parent [–] Denjin@lemmings.world 2 points 1 year ago I could have an identical quality of life to what I have now with £1.2M permalink fedilink source parent [–] FlashMobOfOne@lemmy.world 1 point 1 year ago (1 child) You can get 4% from a high yield savings account. That’s insured. For now, but you make a solid point. It depends on one's risk threshold, but I appreciate you adding that in. permalink fedilink source parent hideshow 2 child comments replies: [–] Nerrad@lemmy.world 1 point 1 year ago (1 child) That's just break even purchasing power. In USA, invest $1000 at 4% earns $40. Federal and State taxes will take $10. The remainder will be dissolved by 3% inflation. And when you go to spend it, sales tax pushes your 'yield' into the negative. 4% isnt the easy street it appears to be. permalink fedilink source parent hideshow 2 child comments replies: [–] FlashMobOfOne@lemmy.world 0 points 1 year ago Yes, that's why it's the worst case scenario in this discussion. permalink fedilink source parent
[–] jjjalljs@ttrpg.network 15 points 1 year ago (4 children) You can get 4% from a high yield savings account. That's insured. That's still $360,000 a year (taxed as income). You don't need to expose yourself to a lot of markets and "down years" . I mean, if the us government collapses and insured accounts are lost we all have bigger problems. At 2.5mm you'd still be fine at 4%. Six figure salary for doing jack squat. Of course, not everyone can budget and they might burn into their principle. But, like, don't do that. 🤷 permalink fedilink source parent hideshow 8 child comments replies: [–] cabb@lemmy.dbzer0.com 10 points 1 year ago* (last edited 1 year ago) (1 child) Sure but inflation will eat into that over time. The point of the market approach is you can withdraw that amount in real dollars for 30 years after accounting for interest and inflation permalink fedilink source parent hideshow 2 child comments replies: [–] jjjalljs@ttrpg.network 4 points 1 year ago That's a good point. I think that's why most financial advice recommends a mixed portfolio. Index funds that follow the market, but also like bonds and safer things. If I luck into seven figures of money, I think I'd hire a professional to give advice. Or at least do a lot of research. permalink fedilink source parent [–] tomkatt@lemmy.world 7 points 1 year ago (2 children) Yields are down a bit right now, unless you're willing to go with a sketchy, not sure if FDIC insured "bank." Currently I'm seeing rates of around 3.5%, or 3.63 APY. permalink fedilink source parent hideshow 4 child comments replies: [–] Corkyskog@sh.itjust.works 2 points 1 year ago If you look at internet saving banks they have yields up to 4.4% right now. permalink fedilink source parent [–] jjjalljs@ttrpg.network 1 point 1 year ago Betterment offers 4%, insured up to $2m. I think you can go higher with a refer-a-friend , but that program might be over. permalink fedilink source parent [–] Denjin@lemmings.world 2 points 1 year ago I could have an identical quality of life to what I have now with £1.2M permalink fedilink source parent [–] FlashMobOfOne@lemmy.world 1 point 1 year ago (1 child) You can get 4% from a high yield savings account. That’s insured. For now, but you make a solid point. It depends on one's risk threshold, but I appreciate you adding that in. permalink fedilink source parent hideshow 2 child comments replies: [–] Nerrad@lemmy.world 1 point 1 year ago (1 child) That's just break even purchasing power. In USA, invest $1000 at 4% earns $40. Federal and State taxes will take $10. The remainder will be dissolved by 3% inflation. And when you go to spend it, sales tax pushes your 'yield' into the negative. 4% isnt the easy street it appears to be. permalink fedilink source parent hideshow 2 child comments replies: [–] FlashMobOfOne@lemmy.world 0 points 1 year ago Yes, that's why it's the worst case scenario in this discussion. permalink fedilink source parent
[–] cabb@lemmy.dbzer0.com 10 points 1 year ago* (last edited 1 year ago) (1 child) Sure but inflation will eat into that over time. The point of the market approach is you can withdraw that amount in real dollars for 30 years after accounting for interest and inflation permalink fedilink source parent hideshow 2 child comments replies: [–] jjjalljs@ttrpg.network 4 points 1 year ago That's a good point. I think that's why most financial advice recommends a mixed portfolio. Index funds that follow the market, but also like bonds and safer things. If I luck into seven figures of money, I think I'd hire a professional to give advice. Or at least do a lot of research. permalink fedilink source parent
[–] jjjalljs@ttrpg.network 4 points 1 year ago That's a good point. I think that's why most financial advice recommends a mixed portfolio. Index funds that follow the market, but also like bonds and safer things. If I luck into seven figures of money, I think I'd hire a professional to give advice. Or at least do a lot of research. permalink fedilink source parent
[–] tomkatt@lemmy.world 7 points 1 year ago (2 children) Yields are down a bit right now, unless you're willing to go with a sketchy, not sure if FDIC insured "bank." Currently I'm seeing rates of around 3.5%, or 3.63 APY. permalink fedilink source parent hideshow 4 child comments replies: [–] Corkyskog@sh.itjust.works 2 points 1 year ago If you look at internet saving banks they have yields up to 4.4% right now. permalink fedilink source parent [–] jjjalljs@ttrpg.network 1 point 1 year ago Betterment offers 4%, insured up to $2m. I think you can go higher with a refer-a-friend , but that program might be over. permalink fedilink source parent
[–] Corkyskog@sh.itjust.works 2 points 1 year ago If you look at internet saving banks they have yields up to 4.4% right now. permalink fedilink source parent
[–] jjjalljs@ttrpg.network 1 point 1 year ago Betterment offers 4%, insured up to $2m. I think you can go higher with a refer-a-friend , but that program might be over. permalink fedilink source parent
[–] Denjin@lemmings.world 2 points 1 year ago I could have an identical quality of life to what I have now with £1.2M permalink fedilink source parent
[–] FlashMobOfOne@lemmy.world 1 point 1 year ago (1 child) You can get 4% from a high yield savings account. That’s insured. For now, but you make a solid point. It depends on one's risk threshold, but I appreciate you adding that in. permalink fedilink source parent hideshow 2 child comments replies: [–] Nerrad@lemmy.world 1 point 1 year ago (1 child) That's just break even purchasing power. In USA, invest $1000 at 4% earns $40. Federal and State taxes will take $10. The remainder will be dissolved by 3% inflation. And when you go to spend it, sales tax pushes your 'yield' into the negative. 4% isnt the easy street it appears to be. permalink fedilink source parent hideshow 2 child comments replies: [–] FlashMobOfOne@lemmy.world 0 points 1 year ago Yes, that's why it's the worst case scenario in this discussion. permalink fedilink source parent
[–] Nerrad@lemmy.world 1 point 1 year ago (1 child) That's just break even purchasing power. In USA, invest $1000 at 4% earns $40. Federal and State taxes will take $10. The remainder will be dissolved by 3% inflation. And when you go to spend it, sales tax pushes your 'yield' into the negative. 4% isnt the easy street it appears to be. permalink fedilink source parent hideshow 2 child comments replies: [–] FlashMobOfOne@lemmy.world 0 points 1 year ago Yes, that's why it's the worst case scenario in this discussion. permalink fedilink source parent
[–] FlashMobOfOne@lemmy.world 0 points 1 year ago Yes, that's why it's the worst case scenario in this discussion. permalink fedilink source parent