Would this work in theory?

What if I was 18 years old and I won a million dollars and I decided to put all of it into a serious saver account and just live of the interest. These are my calculations of how I would spend it:

(NZD)

Interest per year = $26,313

Taxes per year = $3,624.77

$26,313 - $3,624.77 = $22,688.23

$22,688.23 divided by 52 weeks = $436.3

$30.00 for water and power etcetera per week

$100.00 for food per week

Left over after each week = $306.3

$200 of that for savings each week which = $106.3 left to spend on whatever

Note: I'll be living with my mother so I won't have to pay rent or anything, just water and power costs.

Could I just do this for like 20 years and then retire in theory?


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Most Helpful Guy

  • That's a yupparo. Yes you can if the future value is to your likings. You can easily calculate 20 years of compound interest

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What Girls Said 0

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What Guys Said 3

  • If you were living with family rent free, then reinvesting 50% to 75% of that would be more beneficial if you're not trying to do anything else with your life.

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  • Inflation could fuck you up.

    Maybe you'll do fine.

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  • If you live at home sure but who wants to live with their parents till they're 38?

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