Depending on the number of years you allow to deplete the capital through consumption and the rate of return you assume for making use of it, 1 million (euro, pound, dollar) roughly allows one person to live on a moderate income... That qualifies as "comfortably poor" - you can either continue working and be more comfortable, or retire and live uncomfortably.
With 5 million you can support a family unit. That begins to look like "comfortably wealthy". The brainless should not be in banking -- Willem Buiter
At a 5% rate of return, that would yield £250,000 (€276 ,585 or $373,500) annually.
The UK median wage in 2009 was £25,428 (€28,132 or $37,989) meaning that at that same 5% if you had £508,560 (€562,640 or $759,789) you could get the same amount of money each year that the average worker makes.
It seems like comfortable means different things to different people. And I'll give my consent to any government that does not deny a man a living wage-Billy Bragg
at that same 5% if you had £508,560 (€562,640 or $759,789) you could get the same amount of money each year that the average worker makes.
1 million (euro, pound, dollar) roughly allows one person to live on a moderate income... That qualifies as "comfortably poor"
