archizzy posted...
I absolutely would wait for the 3 years for the 5 million however I disagree about being able to retire on a million in some circumstances. Too often people look at this from the context of "will a million dollars last the rest of your life?" and yeah I totally understand why many people say no. But the reality is you can invest that million and even as a modest and safe 5% return you could get $50,000 a year from that without ever touching the original million.
I mean it cost me like $18,000 a year to live. That is 100% of my expenses. I could live on the interest from that million alone comfortably in my situation. But again I would totally just wait the 3 years for the 5 million. That way it would give me much more breathing room and peace of mind.
For myself I just look at how much I'm currently making, multiply by how many years it's likely going to be before I retire, and see that it is quite far from $1,000,000. Even accounting for my wages going up, I doubt it will be by enough that I'll get that much money by the time I retire. Also, once I get to retirement age, I'll also be getting pension payments, so it's not like it's only the $1,000,000 that I would have to rely on.