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$900,000 x .02 = $18,000 ÷ 12 = 1,500.
$1,500 every month, no rent, no mortgage, no electric bill. Basically means you're paying taxes, insurance, water, gas, phone/internet. I'll just round that off at $600. Means $900 a month after bills. All without working.
You telling me that ain't rich?
lol what? No, that’s not at all rich by any account
$18,000 is only $3k above the federal poverty level, and well below for a family of 2. This sounds like one of those out of touch McDonald's PR budgets.
Better hope your home never needs a new roof, that'll be at LEAST 6 months of your passive income gone. Car breaks down? Well you need to fix that because you live in BFE, that's another month gone.
Not to mention I don't know what scooter you're parking in your one room shack to keep taxes and insurance and utilities under $600. Are you fitting health insurance in that too or just offing yourself when you get medical debt? Hope you never have any dependants either, that's when things get really pricey.
I wouldn't call 44th and Clark BFE.
If anything, I'd have to check the map, and make sure Daves is as close as I think, but you could just walk everywhere. Although at his age, maybe he'd need a car. But the neighborhood is very drivable. It's not like you're out in the sticks.