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Just out of curiosity, what kind of lifestyle and investment strategy are you planning to support a long-term life of the mind on $1M USD? Or is millionaire more of a figure of speech representing "a whole lotta money"?
If you make 5% a year on that and live a very frugal lifestyle in a low-cost area, you could do OK, but medical expenses, children, inflation, etc could hurt your capital considerably. I think you'd need a good bit more than $1M to have a large safety margin.
The exact figure I'm aiming for is $5 M USD or above. I'd quit trying to make money as soon as I hit $5 M basically.
If you're planning to take venture capital as part of your plan for making $5M, you'd better hope that the VCs never read that comment.
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