Here’s an idea to help the economy – retire the wealthy. If you are a wealthy working American, with a net worth over $1 million, please do the country a favor and retire. If you love your country, please quit your job, take your money and have a good life. Retirement is the best action you can take to help the United States economically recover.
If you have a net worth over $1 million you are unnecessarily working. Your retirement will reduce unemployment, increase wages in the economy, and spur economic growth.
A net worth of $1 million will allow you to spend a starting sum of $3,333 per month, which gets adjusted up every year to match inflation, for the rest of your life no matter when you retire. If you retire at 60, you can spend $4000 per month, and survive the great depression. Add any Social Security or pension payments to that amount. Not bad eh?
If you are wealthy and work, because you wish to remain active, think about quitting your job and volunteering your time and energy. A search of volunteermatch.org produced 1355 volunteer opportunities within a 2o mile radius of my home.
Find out how much you can spend in retirement by visiting the Early Retirement Website and try our Free Retirement Calculators.
2 responses so far ↓
1 Howard // Nov 2, 2008 at 4:49 am
Those smart enough to become millionaires know that work is the life extender and that too much leisure is lethal. And the more successful and mindful grownups among us also know that civic engagement feels really good.
There is plenty of time to do both: work that matters for pay and for the good of society.
2 John // Sep 4, 2012 at 10:07 am
The purchasing power of one million US dollars today in 2012 may not buy even 10,000 US dollars worth of goods by 2017.
Why? Because Greenspan and Bernanke have destroyed it with low interest rates and electronically printing trillions of dollars in their insane ‘quantitative easing’ program.
When the Saudi/Nixon agreement in 1971 to use only US dollars to pay for oil comes to an end, the US dollar will become almost worthless because its role as the world’s reserve currency will be over.
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