Enough money for the next 30 years? - Hi Guys,
I'm an Aussie that departed Australia a few years ago to live overseas.
First my bio:
\-Age is in the mid-50s
\-Live in a cheap country outside of Australia
\-Liquid assets of USD 650,000 cash in a brokerage account currently earning 4.5% interest
\-I'm not working nor do I have any other type of income
\-I believe I will **not** be entitled to an Age Pension in Australia the future
\-My monthly living costs **are less than** USD 2000 (USD 24000 a year)
\-My Aussie Super account has only about $A20,000
\-I also have an emergency 6 month's worth of cash which is funding me currently
So my question is; do I have enough money to cover my living costs for the next 30 years? Assuming of course I actually live that long. I plan to continue living in the cheap country I've been living in.
I'm thinking about using my USD cash to buy dividend stocks that will give me a 5% return (USD 650000 x 5% = USD 32500) which is a good amount above my living expenses...any left over money I would use to buy more stocks.
What possible flaws or risks can you see with such a plan? Any comments or advice are welcome. Thanks.
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