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RIO DE JANEIRO, BRAZIL - For a long time, reaching the dreamed first million reais was associated with the idea of financial independence, with the possibility of quitting work and living off the income generated by that amount.

But is it still feasible to live on the income generated by financial investments with that amount? According to experts consulted by InfoMoney, probably not.

"People talk about R$1 million (US$250,000) because it's a round figure, it becomes a psychological thing, but today this amount doesn't mean much when we talk about financial independence," says financial educator Andr . . .

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