16 Comments
 

Personally, at minimum I would need 2MM to "retire" and start running my own money full time

I'm on the pursuit of happiness and I know everything that shine ain't always gonna be gold. I'll be fine once I get it
 

No in general. But it greatly depends on your personal situation and spending habits. If you live in a cheap place, have a house paid off with low property taxes and don't have kids, maybe if you spent very minimally but you'd be living like a hermit in the Ozarks. And with life expetancy where it is now you could be stretching that out a long time and your SS check isn't going to be very big because you wouldn't have been contributing for 20 years.

 

assets are only 1 piece of the puzzle. if you still have liabilities (not just debt, but things like kids, aging parents, etc) and expenses and no other sources of income (your SS is probably unimpressive at only age 45) like a pension or partnership interests, then $1mm is a small sum on which to retire.

why do you want to retire? why not switch industries, I'm sure you have an interesting story and may be able to make the leap to something else.

 

OP, I'm curious, are you really 45, or close, with $1MM and want to retire or are you running hypotheticals as a 25 year old thinking you want to retire ASAP on as little as possible at some point in the future?

And @andylouis and @jankynoname are correct: you could take that money to parts of South America or SE Asia and live pretty well. Take that to rural India and you could be a god.

 
Best Response

Assumenda maxime dignissimos reiciendis eos. Quisquam consectetur unde rerum maiores quasi. Ducimus vero qui architecto ut aut et veniam. Et fugit officiis quam mollitia.

Modi quaerat eveniet quis perferendis fugit sit porro. Unde commodi officia magnam sit accusantium harum. Eos eligendi excepturi dicta quibusdam. Modi velit dolorem unde minus atque. Sapiente qui non at omnis animi atque officiis consequatur. Eos deleniti minima aut autem nemo dolorem libero. Ea totam consequatur nesciunt accusamus sed sed voluptatem.

Autem veniam quia mollitia labore reprehenderit eius rerum. Voluptate error consequatur sequi at modi officia. Eaque nihil sit quia sapiente ipsam consequatur adipisci. Nobis quos autem qui iusto mollitia sit.

Tenetur tempora amet voluptates animi quia nemo. Inventore labore laborum ratione dicta placeat quis eum rem. Consequatur dicta quo molestias iure. Id laborum quos sit.

Career Advancement Opportunities

August 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • JPMorgan 01 98.4%
  • Morgan Stanley 08 97.8%
  • Goldman Sachs 02 97.3%

Overall Employee Satisfaction

August 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Evercore No 98.9%
  • Morgan Stanley 01 98.4%
  • Banco Santander 02 97.8%
  • BMO Capital Markets 12 97.3%

Professional Growth Opportunities

August 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • Morgan Stanley 06 98.4%
  • Goldman Sachs 01 97.8%
  • JPMorgan 01 97.3%

Total Avg Compensation

August 2026 Investment Banking

  • Vice President (16) $429
  • Associates (48) $259
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (25) $178
  • Intern/Summer Associate (14) $159
  • 1st Year Analyst (83) $151
  • Intern/Summer Analyst (75) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
kanon's picture
kanon
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
DrApeman's picture
DrApeman
98.9
6
Betsy Massar's picture
Betsy Massar
98.9
7
CompBanker's picture
CompBanker
98.9
8
dosk17's picture
dosk17
98.9
9
GameTheory's picture
GameTheory
98.9
10
Linda Abraham's picture
Linda Abraham
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”