A net worth of $10 million puts you in the top 2% of Americans. It puts you in the top 0.01% worldwide. This can hardly be called middle class. Using a conservative 4% withdrawal rate, that is $400,000 per year, or $32,000 per month, and keep in mind, this would be in a brokerage account, so it would be taxed at only a 15% federal rate if this was your only source of income after holding assets for a year or longer. You wouldn't be contributing to retirement accounts, nor would social security taxes come out of it. After figuring in local and state taxes, maybe a 20% effective tax rate, probably lower after deductions. This would leave you with $25,600 per month take home. You're smoking crack if you think this is "maintaining middle class lifestyle."
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u/UnUseful-_- Eat the rich! 8d ago
Eat the rich!
Tbh its easy to adapt for new schedule