miss_demeanour@lemmy.dbzer0.com to Political Memes@lemmy.worldEnglish · 4 days ago'Sad' Continues To Be Redefined.lemmy.dbzer0.comexternal-linkmessage-square176fedilinkarrow-up11.42Karrow-down112
arrow-up11.4Karrow-down1external-link'Sad' Continues To Be Redefined.lemmy.dbzer0.commiss_demeanour@lemmy.dbzer0.com to Political Memes@lemmy.worldEnglish · 4 days agomessage-square176fedilink
minus-squareMNByChoice@midwest.sociallinkfedilinkarrow-up1arrow-down1·4 days agoShe will be able to retire from this. (It doesn’t cost a.million to move.)
minus-squareFlashMobOfOne@lemmy.worldlinkfedilinkarrow-up6·edit-24 days agoYou can’t retire on 700k in the US, especially if you have young kids. (Which is, TBH, a depressing thought. I’d be fine with one racist retiring for free if it meant the majority of the population got more equitable value for their labor.) She’ll have to pay taxes on it too, I’m assuming.
minus-squareMNByChoice@midwest.sociallinkfedilinkarrow-up4·3 days agoI cannot guess at the tax rate. I assume the fundraising will hit the $1 million goal. At 4% withdraw rate, thatis $40K per year. Cut in half for taxes, is $20K. Equivalent-ish to a $10 per hour job. Single mothers are statistically more likely to be at the bottom of the wage scale. It could be enough to retire on.
minus-squareZeffSyde@lemmy.worldlinkfedilinkarrow-up2·3 days agoI’m guessing the first thing she buys is a truck-boat-truck, so skim 100k of the top of that figure.
She will be able to retire from this. (It doesn’t cost a.million to move.)
You can’t retire on 700k in the US, especially if you have young kids. (Which is, TBH, a depressing thought. I’d be fine with one racist retiring for free if it meant the majority of the population got more equitable value for their labor.)
She’ll have to pay taxes on it too, I’m assuming.
I cannot guess at the tax rate. I assume the fundraising will hit the $1 million goal.
At 4% withdraw rate, thatis $40K per year.
Cut in half for taxes, is $20K. Equivalent-ish to a $10 per hour job.
Single mothers are statistically more likely to be at the bottom of the wage scale.
It could be enough to retire on.
I’m guessing the first thing she buys is a truck-boat-truck, so skim 100k of the top of that figure.