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Topic	$1000,000 or being able to eat as much as you want without health issues?
ReggieTheReckless 06/10/21 3:36:24 PM #50:	adjl posted... A million is a lot more money than most people will ever have at their disposal at once, and suddenly getting that much is clearly going to be life-changing, but it's still "not that much" in the sense that it doesn't mean you'll never have to worry about money again. Depending on where you are, that might not even be enough to buy a decent house, let alone a fancy one while still having enough left for any other luxuries. Basically, you're doing pretty well if you've got a million to your name, but you've still got a ways to go before you can really be rich. This is part of why so many lottery winners blow their winnings so quickly: They think of a million dollars as being an incredible amount of money, not realizing just how quickly it can disappear if you aren't sensible about it. The majority lottery winners are idiots for sure, as are people that don't think they can retire on a mil. No one is forcing you guys to live in downtown east coast/west coast areas where you can't even buy a house for that much. Assuming the million offered here is tax free initially, 8% on a mil invested is 80 grand, and even the laziest of investors can make 8% a year in stable years. Let's say you don't let it sit and instead take it out and it's taxed as income instead of long term capital gains, so you're left with maybe 63k after taxes My wife and I combined make less than that now after taxes (we clear like 58k),and we live EXTREMELY comfortably in Central Florida and never want for anything and buy whatever we want and get annual Disney passes and take at least 2 vacations a year. Maybe you guys... Just suck with money? <cite>ReggieTheReckless posted [p:954853406] in $1000,000 ... [t:79504608]...</cite> <quote>adjl posted... </cite> <quote>A million is a lot more money than most people will ever have at their disposal at once, and suddenly getting that much is clearly going to be life-changing, but it's still "not that much" in the sense that it doesn't mean you'll never have to worry about money again. Depending on where you are, that might not even be enough to buy a decent house, let alone a fancy one while still having enough left for any other luxuries. Basically, you're doing pretty well if you've got a million to your name, but you've still got a ways to go before you can really be rich. This is part of why so many lottery winners blow their winnings so quickly: They think of a million dollars as being an incredible amount of money, not realizing just how quickly it can disappear if you aren't sensible about it.</quote>The majority lottery winners are idiots for sure, as are people that don't think they can retire on a mil. No one is forcing you guys to live in downtown east coast/west coast areas where you can't even buy a house for that much. Assuming the million offered here is tax free initially, 8% on a mil invested is 80 grand, and even the laziest of investors can make 8% a year in stable years. Let's say you don't let it sit and instead take it out and it's taxed as income instead of long term capital gains, so you're left with maybe 63k after taxes My wife and I combined make less than that now after taxes (we clear like 58k),and we live EXTREMELY comfortably in Central Florida and never want for anything and buy whatever we want and get annual Disney passes and take at least 2 vacations a year. Maybe you guys... Just suck with money? </quote> ... Copied to Clipboard!
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