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It depends a lot on where you live. In SoCal $5MM is not enough to retire and enjoy a middle class lifestyle with an occasional luxury. At 4% SWR that's $200K, after taxes roughly only $130K. Maybe if you have no mortgage (a big expense) or no car payments. I bet things would be different in Round Rock, TX (though are the property taxes sky high to compensate for the lack of state income taxes?)
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