I Asked ChatGPT To Plan a $1 Million per Year Retirement Budget — Here’s What ‘Unlimited’ Really Buys
Written by
Laura Beck
Edited by
Molly Sullivan
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Most people worry about having enough money to retire. But what if you had so much that the real question was how to spend it all?
I asked ChatGPT to design a retirement budget for someone with $1 million to blow every year, and the breakdown shows exactly what ultra-luxury living actually costs when money isn’t an issue.
This isn’t fantasy. It’s a real spending plan for people with $30 million to $40 million in net worth who can sustainably pull 3% to 3.5% annually without running out of cash.
Housing Eats Up Nearly One-Third of the Budget
The biggest chunk goes to real estate at $300,000 per year. That covers property taxes, insurance, HOA fees and maintenance on a primary residence, plus another $100,000 for a second home or luxury rental in places like New York, Paris or Los Angeles.
The final $50,000 pays for upgrades, new furniture and seasonal refreshes. This assumes both homes are owned outright with no mortgages eating into the budget.
Travel Costs More Than Most People’s Entire Annual Salary
ChatGPT allocated $220,000 annually for travel and experiences. Two to three international trips in first class run about $120,000. Another $45,000 covers four to six domestic luxury getaways.
Private tour guides, curated experiences and villa rentals add $30,000. Premium credit card fees and travel concierge services tack on another $25,000.
Getting Around Costs Almost Six Figures
Transportation costs $90,000 per year. Leasing or managing the depreciation on two luxury vehicles runs $45,000. Insurance, maintenance and detailing add $20,000. Private car services and chauffeurs for when you don’t feel like driving cost another $25,000.
Food and Entertainment Hit $150,000
Fine dining and wine account for $70,000 annually. A part-time private chef or regular catering services cost $40,000. Events, hosting dinner parties and club memberships round it out at $40,000.
For context, that’s enough to eat at Michelin-starred restaurants multiple times a week and still have a chef on call at home.
You Need Staff
Personal staff and services run $75,000 per year. Housekeepers cost $35,000. A part-time personal assistant adds $25,000. Concierge and lifestyle management services for handling the details cost $15,000.
At this level of spending, you’re not doing your own laundry or booking your own reservations.
Healthcare Goes Beyond Insurance
ChatGPT built in $85,000 for elite preventative care. Concierge medicine costs $30,000. Executive health screenings and advanced diagnostics add $20,000. Personal trainers, Pilates instructors and bodywork sessions run $25,000. Wellness retreats and recovery technology cost another $10,000.
This is healthcare focused on staying healthy and catching problems early, not just treating illness when it happens.
Looking Good Costs $60,000
Fashion, jewelry and personal care get a $60,000 budget. Clothing and tailoring take $35,000. Jewelry and watches add $15,000. Grooming, beauty treatments and aesthetics cost $10,000.
Culture and Giving Back
Theatre, opera and premium sporting event tickets cost $20,000 per year. Art collecting, hobbies and lessons add $15,000. Philanthropic events and charity galas run $10,000.
Family support and gifts account for $30,000 annually, with another $25,000 going to charitable donations.
The Boring but Essential Stuff
Financial planning, legal fees and tax strategy cost $40,000 per year. Wealth managers and advisors take $25,000. Estate planning, tax optimization and trust management add $15,000.
When you’re managing this much money, professional help isn’t optional.
Built-In Flexibility
ChatGPT included an $80,000 buffer for spontaneity, inflation and once-in-a-lifetime opportunities. This is the “yes fund” for when something unexpected comes up and you don’t want to worry about whether you can afford it. A dream!
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