Is $3.5 million a lot of money for a 23-year-old man?

[Anonymous]

[BonzoInBitburg]

$3.5 million invested in a high yield ETF will return at least 4% a year in dividends so in the first year you'd receive $140,000. ETFs can easily grow an average of 10% per year which would double approximately every 7 years so it's more than enough to live comfortably and never have to work again and have an investment that keeps up with inflation.

[888theGreat]

Costs will go up and inflation will really average at least 10% in the real world. You will need to invest it and continue to make money. Figure $100,000 to live in most areas , you have enough for 25 years , which makes you 48 , then you are 20 years away from Social Security , if we still have it. I think if you worked part time job for 25 years and could get 5% return on Investments , you would be ok.

[Asker]

This much money for Turkish.

[888theGreat]

Turkey inflation is worse. You could lose $2.3 million Turkish in 3 years. If it is US , it would be better. In 1930's Germany , almost everyone was a "millionaire" , but they still couldn't afford to buy anything.

[Asker]

My country's currency lost value and the dollar is now 44.10 TL, so everyone's purchasing power has decreased. I have assets worth about 4 million dollars, and my monthly income is at least 850,000 Turkish lira.

[FreyaRed]

On a boat party in Monaco, it's not. In a redneck barn party it is.

[WindAtMyBack]

You should already know the answer to this. That's a hell of a lot of money for a 23 year old. Extremely few people have that much money at that age. Even at retirement age less than 5% of people have that much.

[DonaldDarko]

Doesn't seem like it. There are various wealthy young people. Usually it's old money from their families.

[Spencer10]

I would say yes. To accumulate that much wealth takes most people a lifetime.

[Asker]

under Turkish conditions

[Kaneki05]

Of course? One can just live off interest on that nvm if one starts to invest

[supercutebutt]

It's not a lot if you live in Jive, Turkey.

[Asker]

Istanbul

[Dargil]

Sounds like more than enough.

[Anonymous]

I live in Australia and yes

[Opinion Owner]

In the country I live in it’s a lot

[Asker]

What did you mean by "very common in the country you live in"?

[Opinion Owner]

I never said it’s very common

[exitseven]

Yes, unless it is some spoiled rich kid.

[Anonymous]

I think that's a lot of money for anyone.

[Asker]

for turkey

[Opinion Owner]

Definitely for Turkey

[Asker]

It is equal to 155 million Turkish lira.

[beefcakebradybatson]

And for a SEVENTY-TWO-year-old man !!!

[Abbycado]

Yeah

[Asker]

under Turkish conditions

[Abbycado]

What does that even mean? Like economic conditions?

[Asker]

Yes, in Turkey, the dollar is 44 TL, which is 155 million Turkish Lira.

[Abbycado]

I don't know what the economy of that country is like, but 3.5 million USD is a lot no matter where you live.

[Asker]

Is that enough for a lifetime?

[Abbycado]

Depends on how you live, I suppose. Could be for some.

[Anonymous]

I think so, he is a lucky man.

[Cyfris]

Yes... Duh

[Jeff51]

Yes.

[Asker]

under Turkish conditions

[Mike_Hum]

yes.

[oldman26]

A good bit