>>60493713 (OP)1.5m * 0.04 = 60k a year. This is assuming you only live off of the yield (you can eat more into principal by assuming you would need less as an elderly) and you invest safely. If you are younger you can invest in stocks and see bigger yields.
60k a year goes a long way in many civilized countries. You could live a comfy life in Cyprus, Greece, Malta, Croatia.