After taxes, I will expect $3,750 per month for my income. This will have to do everything including paying the bills, buying food, and any discretionary spending I may have to do. This will be the combined total of my apartment rental, and investment fund. Obviously, I will have to assume for a couple of things. These are essential if I should have any chance to live off of $1,000,000.
First, I will have to hope for that I am correct in Capital Gains Tax. If it is more, this will mean I will have less money, and that would be less money every month. I am assuming taxes will be 25% and that would apply to the apartment rental, and investment fund.
Next, I will have to hope for the fact that my investment will be generating at least 9% annually on a monthly payout. If I have a low month, I will see it in my income. There is no way around that. If I receive more because of a good investment month, I will set that aside to cover for any bad months. And yes, I do have the emergency fund in the case of a terrible month, but this is not something I will want to rely on as there could be other emergencies.