Can anyone be a millionaire next door anymore?

[nitpicker]

For those who missed it, Thomas Stanley died at the end of February.

Splitting this post so I don't waste it again.

[Warpy]

1. Yes, because a million bucks doesn't mean what it used to

It will afford you enough income to live on, although not well, and only if carefully invested.

[CatholicEdHead]

4. True

You are talking hundreds of millions to Billions, and that is not as easy to do anymore.

[nitpicker]

2. Can Mr Frugal (retired) afford to live anymore?

Let's assume Mr Frugal is getting 3% on his million dollars worth of CDs.

IRS gets about $2500.
State tax about 1500.

So on 26K a year:

Utilities 4K (everyone else lives on the internet, so he has to too....)
Food 3K
Medical (premiums plus visits/meds) 4K
Transport 4K (gas/insurance/repairs)
House insurance 1K
House tax 7K (the yuppies have replaced the deceased)

So 3K a year for all else...

[nitpicker]

3. One way to find out finances

http://www.michellesingletary.com/21-day-financial-fast.html

The budget calculators give one a way to apportion annual expenses out by month.

But it doesn't really account for seeing grandkids, putting THEM through college, etc.