This, and various perturbations, is one of the most frequent Google search terms that hit this site. I think my very general answer would be that if you have to ask that question, then the answer is, “PROBABLY NOT!”
If you ask whether you can retire with $10 million, the answer is still no.
The problem is essentially scale-less. Asking the question implies that one has accumulated X dollars without any thought towards expenses and jobless income. I posit that if those things are considered, the answer would be obvious and the question would not have to be asked.
However, until one figures out one’s expenses and jobless income, the question can’t be answered.
So I can only give a very general answer (provided you don’t ask the question ).
Yes, it is possible to retire with $2 million. It is possible to retire with $1 million. It is also possible to retire with half a million or a quarter million. $50,000 is also solution. And so on. The more you know, the less you need.
Originally posted 2008-06-27 07:24:48.