so if I've worked for 20 years from age 20 with a 100k average salary that's 2m
A 2m lump sump at 20 would allow me to live a lifestyle of a 20k/year life, not good enough.
Had I lived that over the last 20 years and saved the rest of the 100k in an 8% return fund then I'd have 4m today and could drawdown a 40k/year life at 1%.
Had I been given a lump sum of 100 times my desired salary though, or 10m, then sure, no need to work.
And depending on where you live, 40k might be barely scraping by now, and certainly not enough another 20 or 40 years down the road when you get to the point where you need daily care and medical services.
A 2m lump sump at 20 would allow me to live a lifestyle of a 20k/year life, not good enough.
Had I lived that over the last 20 years and saved the rest of the 100k in an 8% return fund then I'd have 4m today and could drawdown a 40k/year life at 1%.
Had I been given a lump sum of 100 times my desired salary though, or 10m, then sure, no need to work.