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If they're willing to die without a lot of cash, $2M invested at 1% interest gives them about $110K a year for twenty years.

To arrive at $110k a year, you have to spend down capital. So....

Y1 - $2,000,000 at 1% yields $20,000 - withdraw $90,000 to get $110,000.
Y2 - $1,910,000 $19,100 - $90,900
Y3 - $1,819,100 $18,191 - $91,809

I could go on, the overall picture is each year you earn less interest, draw down more, eventually you get to zero at some point. As long as they are good living on $0 the year after they run out of money, good for them. But the year or two before, they will not have $110,000 spending money.

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