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Ok, so how's $2M broke?
Rin saysOk, so how's $2M broke?
Compared to $8B, it is pretty broke.
But of course the difference between really being broke and having $2M is huge.
Compared to $8B, it is pretty broke.
But of course the difference between really being broke and having $2M is huge.
I’m baffled by people like this. On my more modest than his “broke” status, I already have retirement plans to travel fairly frequently with my wife along with other retirement goals, mostly pursuing things we really like but that don’t generate income and take up more time than we have working.
I’m baffled by people like this. On my more modest than his “broke” status, I already have retirement plans to travel fairly frequently with my wife along with other retirement goals, mostly pursuing things we really like but that don’t generate income and take up more time than we have working.
And we’re trying to make it happen as early in life as possible.
https://www.forbes.com/sites/stevenbertoni/2020/09/15/exclusive-the-billionaire-who-wanted-to-die-brokeis-now-officially-broke/#72093a843a2a
Excerpt: "Over the last four decades, Feeney has donated more than $8 billion to charities, universities and foundations worldwide through his foundation, the Atlantic Philanthropies. When I first met him in 2012, he estimated he had set aside about $2 million for his and his wife's retirement."
Ok, so how's $2M broke?
In other words, he's living on some immediate annuity. And if I do the calculation, he's 89 today which made him 80/81 back in 2012.
Using a simple Charles Schwab estimator below ...
https://www.schwab.com/public/schwab/investing/accounts_products/investment/annuities/income_annuity/fixed_income_annuity_calculator
His $2M will yield at the age of 80, $12K/month or $144K/year. And that's for life because most insurance companies estimate that he'll kick the bucket in a dozen years than live like a vampire till his 200th birthday. Trust me, they'll make money on this type of contract.