Could a young adult retire off a million dollars?

$1 million is not very much money. You MIGHT be able to live off of that for 20 years or so, but inflation alone will kill that money off rather quickly.

Hell no.

Now...if they had a million dollars that they didn't need to touch for 40 years and invested it wisely, they'd retire rich and young.

I'm 45 and my calculations indicate I will need 4-5 million to retire at age 65, live 30 years in retirement and maintain my current standard of living despite future inflation.

Not these days.

There is something known as the '4% rule' for retirees. It is estimated that you should be able to earn at least 4% on average (some years more, some less, thus it's an average), and so, you limit your withdrawal from the account to 4%, or $40,000 per year. This will keep your account, in theory, at around the original one million.

However, this rule applies to people who are at or near normal retirement age who will have other retirement income to count on. Pensions or government benefits (Social Security). The 4% is meant to supplement income, not be the sole source.

If this young person had the million to invest but no other income, the cost of living would reduce the buying power of that yearly $40k every year. The money would probably be all gone in under 20 years, because at some point, you would have to start taking out more than 4% a year, and then the account's earnings will no longer keep up.

If you invest the money is a relatively-conservative way, can live off of about $20,000 a year adjusted for inflation, and don't live more than 60 years, sure. Otherwise, no.

$1 million is not very much money... you might be able to live off of that for 20 years or so, but inflation alone shall kill that money off rather quickly...

no it will not last you more than 30 years, and even at that, only $35K to $40K a year at today's interest.

I could. Rather than work, I'd make sure it lasted.

Just live off the intererst, if it's one million dollars after taxes.

Not really. If interest rates were what they used to be, yes. But not with the current cost of living and low interest rates for savers.

The Life of Riley index is currently running $4.7million to generate enough income to be in the 75th percentile.

http://www.uexpress.com/scott-burns/2016/6/26/life-of-riley-index-climbs-higher

Pertinent points:
-- In 1985 the required income was only $30,928 [to be at the 75th percentile], but portfolio yield [stocks and bonds] was 7.19 percent. So a mere $430,452 was enough to make you a person of independent means.

--- This year the required income is $77,824 and the yield is only 1.63 percent. This means you would need a portfolio more than 10 times as large, $4,774,478, to pay the bills for your top 25th percentile lifestyle.

As Scott puts it, to save $4-$5 million over 30 years takes saving $30K a year; but if you can save $30K a year, you probably won't be happy living at *just* the 75th percentile.

$1Mil? actually as a young adult how much do you need to survive currenlty and how long would the $1mil last at this current rate, you will find in your old age you won't have anything to live on and since you likely never worked you will not have SS

Not comfortably. You are going to need 4 - 5 million dollars to live reasonably comfortably and that is assuming that amount is in a secured investment. If you put it where it is risky and you lose it, then you are going to need more..

sure if he only wants to spend 25K a year.. sure

With current interest rates, no.

Little matter how much money that you have at the start-
if you're careful, you can always make money increase.
It's called seed money.

Of course, it goes without saying that a million dollars
is a real good start. Just remember that it's still a finite
amount and one could blow that amount, too.

Just live casually and moderately, get educated and
good financial advice.

Above all-don't let it be known to too many people
that you have it. You have it. They want it. They'll
stop at nothing to get it.

Why settle for a million for the rest of your life? I mean maybe it's not something you would ever want but dude maybe 100 million so you can have whatever you want? Do you not want to get a Bugatti ever or ever have the chance to? Dude never settle YOU CAN HAVE WHATEVER THE **** YOU WANT I feel like too many people are like you and want to try and make a million dollars and live with that for the rest of your life and don't understand you can have anything you want but hey we need people like you who will work for a **** ton of time just so you can get a million dollars and then stay alive with that money maybe you will never get what you really want ever but you will help us out with your work whatever it is

yes, if your cost of living is low.
a million invested at 6% will net you 5k/month. so... is that enuff?

sure. y not,

Look at the average salary in your country, multiply this by how many years you've got left of working life until retirement. If this number is the same or less than $1 million, youre fine