Current Events > How long could you survive off of $1 million

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$1 mil in the bank untaxable. You cannot invest. How many years without earning any money could you make it last?

Going off my current lifestyle I could last 20 years.
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rest of my life, very comfortably at that

Kaiganeer posted...

rest of my life, very comfortably at that

Unless you still live with your parents or something, that's not going to happen.

Somewhere from 15-25 years
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Can my wife still work or do we have to split it?

If she can still work then probably about 30 years before I get a job if we never have kids.

If we have to split it about 12 years with assumed inflation and no kids.

Alternitavely we could probably go a lot longer if we just worked 3 day weeks, or worked to 50 and had an early, but frugal retirement.
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ArchiePeck posted...

Kaiganeer posted...

rest of my life, very comfortably at that

Unless you still live with your parents or something, that's not going to happen.

Hmm lets see. I am 33 now. My family's average expenses per month are around 2200 euros, including things like clothing.

That means yearly, my expenses are around 25.000 euros. That'll last me 40 years give or take. Now, if I just continue working, cut back a couple of hours, I could live very comfortably off of that for the rest of my life.

Probably moreso if I invest some of it.
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3 months
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1 million years

1 dollar per year
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About 30 years.
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Kaiganeer posted...

rest of my life, very comfortably at that

1 million days
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GunmaN1905 posted...

Kaiganeer posted...

rest of my life, very comfortably at that

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ArchiePeck posted...

Unless you still live with your parents or something, that's not going to happen.

nah. my monthly expenses are like €1200~1300 and €700 of that is rent, so since i'd likely buy a house further away from the city, provided that i retain more or less the same lifestyle, i'd die leaving a sizeable will

I could stretch it for the rest of my life if i really had to
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I could make it last my whole life as once you own your home it really reduces your expenses.
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About 1 hour, hookers and cocaine are expensive...
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I mean... you should be making more money when it comes to hookers and teh loco coco...
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It's no wonder U don't have a million
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You could move to the Midwest and buy a nice house for 127,000$. Own however much property you want at a rate of around 3000$/acre. As long as you get a home that's Electric for lights and appliances and gas for heating/air you wouldn't have much trouble on upkeep.
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if I had to? shit like 40 years, most of the rest of my life. 25k/yr would provide me with basic shelter, food, water, rent, utilities in a shitty 1 bedroom apartment in the ghetto.

20 years (50k) would be a hell of a lot more comfortable but I could probably survive off of less that 25 if I had to. I know plenty of people who actually do.
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Almost 28 years based on my current income, which is allowing me to live more than comfortably. If I know that is all the money I'll ever have I could easily stretch it much further, at least another 10 years.

My whole life, because I'm not a dumbass with money.
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I'd put it a savings account and spend only the interest.
I'd also keep working.
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stone posted...

About 30 years.

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Turbam posted...

I'd put it a savings account and spend only the interest.
I'd also keep working.

OP specifically says without investing or earning any other money. So no interest or working.

Unlike these boring nerds I'd last a year at most. I'd blow it quite fast.
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i think my monthly expenses hover around 2k-2.5k/month, so i could probably make it last 40 years :O
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At my current consumption, 41 years. But that consumption is based on my salary, so idk.
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Spending $4k a month, my wife and I could last 20 years. We spend less than $4k a month when we're working. Maybe we can hit that mark during summer break.
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ArchiePeck posted...

Kaiganeer posted...

rest of my life, very comfortably at that

Unless you still live with your parents or something, that's not going to happen.

Why not? TC didnt say you couldnt go get a job while living off the mill. I could definitly live comfortably off 1 mill while keeping my current job for a good long time.

If I were to take on all the house bills my parents have, I'd be spending at least $500 on bills a month (I'm underestimating). And lets say I spend $500 on myself a month, So it's 12K a year. So 83 years or so? If I bump up to a $24K spending limit, ~40 years is pretty decent. When I lived away, I made $2000 a month and living expenses came out to roughly $800 a month (I had to share an apartment), $9600 a year. Not changing life styles, it'll still last a while.

asdf8562 posted...

ArchiePeck posted...

Kaiganeer posted...

rest of my life, very comfortably at that

Unless you still live with your parents or something, that's not going to happen.

Why not? TC didnt say you couldnt go get a job while living off the mill. I could definitly live comfortably off 1 mill while keeping my current job for a good long time.

The point of this topic is to find out how far you can stretch $1 million to fund your lifestyle though.
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I'll move to a cheaper country like Indonesia and live a very comfortable life until I die.

If I don't work, 25 years, if I keep working my whole life.
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asdf8562 posted...

TC didnt say you couldnt go get a job while living off the mill.

Tyrannosaurus posted...

How many years without earning any money could you make it last?

After I used it to pay off my house, probably 5 years or so.

Maybe 20-30 years, assuming some future hyperinflation doesn't render it worthless.

Perascamin posted...

You could move to the Midwest

I wouldn't do that if $1 Million was the reward
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15 years or so. I'll be fine once I'm debt free
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Rest of my life. I'd buy or build a cabin in the middle of nowhere in like Montana or Utah and mostly cut myself off from society.
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With the amount of money I currently make a year, my calculations are about 58.8 years
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As long as I'm still able to work, rest of my life. I'd just retire much sooner, like 40-45 which gives me 9-14 years to make bank.

Based off my current lifestyle, 92 years.

Realistically probably 50-ish years, so the rest of my natural life
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First step is buy a decent condo and vehicle.
Probably about $250,000 for that.

Then $750,000 for everything else.
With no rent or car payment, you can live close to minimum wage and be comfortable.
So let's cap it at $20,000 a year, assuming your single.
You can live for about 35 years on that, maybe less because of inflation, and if your single.

Just depends on what you want to do, working would help you out and frankly keep you from getting bored.
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40 years, but i'm not going to live 40 years with my life style. I'll be lucky if i have 30 years left.
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If i where to take my current monthly income and lets say spend it all every month (which i dont do at the moment)


67 years it seems.
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living in michigan, like 70-80 years. probably more if i really pinched everything. id probably be dead before it runs out.
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A long time
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16.5 years.
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I'd be dead in vegas in a week
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Dead withing ten years. Thank god I make so much.
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