if you eat into your principal amount of $1million every month, you may run out money. However, if you’re $1million generates 8k/month and you can live off 90% of that[reinvesting 10% to keep up with inflation], it’ll probably last you a long long time. of course you won’t be super rich on 8k/month but atleast you won’t have to work for a living.

In fact, its seems to me that people who have a lot of money tend to be more actively involved in its growth, most often by running a successful business or by some other enterprise.

In sum, Harry Domash’s article may be misleading in that it over-simplifies what it actually takes to become a millionaire, which is a lot, a lot of work.

I don’t like calculations of future returns assuming high rates of returns such as 10%. It’s better to be more conservative and realistic using a 4% real rate of return (6-8% before inflation) instead of 10% because it’s a more conservative and realistic number. Harry Domash’s site is a good source of information. http://www.winninginvesting.com