Well, actually, I’d like to plan on being wealthy enough so that I don’t have to work. Leave the money making up to me. My question for all you people is how do I calculate the base investment needed in order to give me a modest $30K/year income in perpetuity. Or at least for the next, say, 50 years or so.
I’d want to adjust for inflation (ie, I want 30K a year in 1999 dollars), and I’d want to base it on fairly stable investments. How do I calculate the base amount of money needed to provide me my income, plus enough to re-invest so that said income is adjusted for inflation, etc?
And, btw, if anyone has that lump sum sitting around and wants to give it to me, that’s OK, too. Email me and I’ll give you an address to send it to.