Million Dollar Challenge #4 : Why you need a minimum of 2 Million USD for retirement?

According to my calculations, if you are living in a western area such as Australia, Europe, USA, you will need atleast USD 2M to go into retirement. That is at the current purchasing value. Why so high? Well, while your life insurers tell you that you can withdraw part of your funds, you really don't know how long you are going to live. If you have USD 2M, you can withdraw USD 50K per year for 20 years.

Steven Keen, professional economist, particularly warns Australians, that a real estate bubble has developed and that Australians have a very high private debt to GDP ratio.

South Africans, well, the currency is going to hell, and a collection of thieves is ready to reorganise the "wealth distribution" - I wouldn't give away one single Krugerrand. In old days your valuables are arms and gold. You need both to get even and pay what you owe. Life insurance can be far cheaper than USD 2M, a good handgun shouldn't cost more than USD 800,--.

My calculations are based on a withdrawl rate of 2% a year, which is 20% less withdrawl than USD 50K per year. So you are going to live a very humble life. That's only USD 40K per year. Keep the rest for appreciation in your other investments. Sure, you don't have to have that in cash, but you should have it in something that is generating cash-flow, such as real estate or ownership in a sustainable business.

In my post refering to my steemit metrics, I have demonstrated that any average blogger will have a better performance on steemit than I have. Further, I demonstrated that your daily internal interest rate will probably be atleast 0,4% daily. I am just an underaverage blogger, I blog about anything that is a current issue in my life. I don't plan my blogs, I don't have a strategy, I just post what I wish to share, and thereby also document my thoughts.

If you are young, then join steemit.com! Make a step from Facebook to steemit.com! At my proven rate of return, you could very well end up with a large part of your USD 2M within 5 to 10 years. Infact, if we look at the 0,4% growth rate per day, you should be able to make USD 2M on steemit.com within 7 to 8 years. Now then, what if everyone would be steeming?

"The steemit.com PARADOX"

Surely, sooner or later the system must drop. The world cannot have 7 billion bloggers, they all drive a Lamborghini, and nobody does any type of work anymore. Therefore, I am smiling. When STEEM hits USD 3000,--, that's the point where I will definitely be selling my STEEM. We will see, do you think the "steemit government" will just hardfuck xxx.xxx and the algos will prevent you powering down? Sure, ofcourse.

You honestly think you can get away with getting USD 1000,-- per post while other people have to break their backs to earn that in a month? Are we serious? Take your money, and run for SILVER. Not any old silver mine. Have you been in that mine where you want to invest? Did you touch the pipes, did you check the scammy financials? Touch real SILVER hardware, buy it, put it in your floor or garden. That was made with real WORK. WORK = REAL MONEY, STORAGE OF REAL WORK = SILVER.

For the time being, steemit.com does offer an access to the blockchain and crypto currency. I believe that, after some work is done on the frontend, the administration of microcommunities will be comfortable and people will associate more with their friends. The difficulty to enter the steemit platform has kept people's friends away, however in future you will be finding more personal friends on steemit. I believe the tendency to continue for approximately 5 years, then slowly the steemit paradox will start to show small effects. I am therefore preparing to be powered down and out of here by the end of 2022.

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Please find my last posts here:

Million Dollar Challenge No. 3 : My-steem-statistics-after-1000-posts
https://steemit.com/teamaustralia/@lucky.digger/my-steem-statistics-after-1000-posts

Million Dollar Challenge No. 2 : How to use the XLS-file
https://steemit.com/milliondollarchallenge/@lucky.digger/million-dollar-challenge-2-how-to-use-the-xls-file

Million Dollar Challenge No. 1:
https://steemit.com/teamaustralia/@lucky.digger/million-dollar-challenge-1-xls-file

Million Dollar Challenge No. 0:
https://steemit.com/steemit/@lucky.digger/would-you-like-to-become-a-millionair-within-7-years-with-only-usd100

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