I'm really low budget and maintenance; I can live on a million dollars only -- even at my relatively young age still I can more than make that last till retirement/old age
I would analyse it in a bit reverse order: determine current cost of living (plus other expenses you consider necessary or applicable) including taxes, extrapolate into the future with inflation. Take a long term realistic investment return. Then calculate the current capital needed. Numerical example: if current annual cost of living plus all other expenses is 50 k USD, and inflation at 3% (conservative, too high estimate), long term annual investment return 4% (conservative, too low estimate) one would need something like 1 or 2 million USD, depending on how many years of life remaining.
For me I have no number, but for my children.. 300 million in Treasury Direct account rolled over at every maturity stipulated in a trust. Trust specifies and managed with strict guidelines by law firm. https://www.treasurydirect.gov/
Here is a thought: 100,000 a year is only $273.97 a day. $273.97 a day is only $11.42/hr if you have a business that is running 24 hours.
Typical talk of a dreamer. Approaching the age of 60 and still dreaming about millions instead of having them. If you are so smart that you know how to do it, why didn't you do it yourself? Mr wiseguy. Maybe try to beat the machines? You can make these 10 millions in a few months. Read your own book. You have no idea how ridiculous your posting is.
What kind of expenses are attached to a trust in the US ? From what i ve seen expenses, which include a management fee as a fixed percentage of capital covered by the trust, would come close, if not above, treasury returns.
I had a friend who was the beneficiary of a "hand from the grave" trust. He had to jump through hoops for each disbursement. Really messed up his life. He of course grew to hate his late parents, who manifestly didn't trust him to manage his own life. And the money killed his initiative. The worst of all worlds.
Doesn't sound great like this, and I also worry about trust execution once the control is handed to an outsider. But aren't trusts popular in the US even from living parents, it's a way to hand money to kids not as fast as they blow it all and avoid some taxes ? I'm actually considering ways to hand the little fucks an early inheritance before they possibly move and work in countries where there is gift and estate tax, enough so I can go back quietly to enjoy old age closer to home without worrying to much about the tax and succession aspect.. They're still young though, I have time to grow the nest egg. Anyway if the cost is around 1% per year, and the money is not safe with the trustee, it doesn't look attractive.