that'show much you need in a CDARS to get 1,000,000 a year AFTER INTEREST TAXES.
THAT is the easiest income stream you can have.
My plan for
if when I win the PB tonight and get that $91,000,000...
$50,000,000 CDARS account that never gets touched... will provide 1.3M a year to live off of.
$10,000,000 individual accounts for myself and the mrs. (that way I don't have to worry about the dreaded kybosh when I get my seaplane when my 10 yr old son turns 18)
$14,000,000 for each of 3 kids to be paid beginning at age 21
A) $1,000,000 "getting started" money
B)$700 a week disbursed to their checking accounts until age 60
C) A 100,000 IRA with an additional $100 a week contribution until they retire
will cost 4 mill and change for each child, but they will then be set for life, they can take a job they WANT. (wish I had that!)
the last 6M goes to pay off debts and buy that beach house!