Living the Good Life on $24,000 a Year? Retire in Your 20’s or 30’s?

[rachel83az]

I would think that, for most people, you need AT LEAST $50k. But that doesn't take into account inflation. It's not that long ago that $24k was, indeed, considered a good income. If you could somehow manage to make $75-100k in perpetuity, you could probably live comfortably (though not extravagantly) for an indefinite period in all but the most expensive metropolitan areas. Like, 100k/year would probably barely get you a slum in NYC but you could probably live quite well in much of upper NY state (based on what I've been told by friends who live in rural NY).