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YoshitoKikuchi 08/06/19 10:58:42 AM #1: |
Let's say right now, you have exactly $1 million in your bank account and no debt. Could YOU make it last for the next 50-70 years without investing or earning any further income?
--- Dont be ridiculous. I think FIVE evil steps ahead https://imgur.com/YQpeyD3 ... Copied to Clipboard!
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AlephZero 08/06/19 10:59:18 AM #2: |
YoshitoKikuchi posted...
without investing or earning any further income? no --- "life is overrated" - Seiichi Omori 01001100 01010101 01000101 00100000 00110100 00110000 00110010 ... Copied to Clipboard!
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Holy_Pumpkin 08/06/19 11:00:15 AM #3: |
I'd like to think so. It'd require a lot of planning so I could then determine what exactly what "living within my means" would entail. I also do not currently have any children but I'd love to start a family at some point. I think I'd need to do a lot of research to properly answer this question.
--- "romance or action does not matter, hurting your friends will make you sadder..." ... Copied to Clipboard!
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knutjob 08/06/19 11:00:16 AM #4: |
No
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SimpleMan 08/06/19 11:01:45 AM #5: |
Nope. Maybe if I was careful, and lived somewhere other than California.
--- Forget your lust for the rich man's gold All that you need is in your soul ... Copied to Clipboard!
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Caution998 08/06/19 11:03:39 AM #6: |
Probably not, but I'd pay off the remainder of my home, and still have $890,000 to sit on.
I'd need a part-time job and I would happily do that knowing I have emergency funds. Either that, or I take a few years off and then come back to what I'm doing now, Lol. I'd take a 3 year vacation! :) --- ... Copied to Clipboard!
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Shablagoo 08/06/19 11:05:09 AM #7: |
Yeah because Id probably be dead within 3 years from partying if I had that kind of money.
--- UnfairRepresent: "wut? who are you?" Ivynn: "DAYUM Shablagoo made you meltdown so hard you blocked it and him from your memory!" ... Copied to Clipboard!
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clearaflagrantj 08/06/19 11:07:49 AM #8: |
Absolutely
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MC_BatCommander 08/06/19 11:08:03 AM #9: |
Probably not, assuming 60 years that's only like 16 grand a year.
--- The Legend is True! ... Copied to Clipboard!
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gunplagirl 08/06/19 11:08:35 AM #10: |
AlephZero posted...
YoshitoKikuchi posted...without investing or earning any further income? This, even without inflation it's just not viable unless I had insurance, food, and basic commute expenses taken care of though some additional source. --- ... Copied to Clipboard!
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Caution998 08/06/19 11:09:20 AM #11: |
MC_BatCommander posted...
Probably not, assuming 60 years that's only like 16 grand a year. yeah, exactly. Taking a break would make more sense tbh. --- ... Copied to Clipboard!
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tripleh213 08/06/19 11:09:54 AM #12: |
Maybe
--- Green Bay Packers NFLB Guillotine Season 2 PS4 looks great ... Copied to Clipboard!
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EndOfDiscOne 08/06/19 11:10:21 AM #13: |
They say to have 25 times your annual expenses in mutual funds/ETFs to live off of the passive income. I would need around $1.2 million.
Edit: Oh it's $1 million cash and you can't invest. Definitely not then. --- I am the Cheese! I am the best character on the show! I am better than both the salami and the bologna COMBINED! ... Copied to Clipboard!
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DifferentialEquation 08/06/19 11:10:56 AM #14: |
Not my current lifestyle. If I moved to a log cabin in the middle of nowhere I could just live off the land then possibly.
--- There's no business to be taxed. ... Copied to Clipboard!
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mooreandrew58 08/06/19 11:11:04 AM #15: |
It would be rough but yeah. Im about to start a job my brother manages to support himself a girl and their child off of and if I live another 50 years working that job I will have earned a little over 1.5 million before taking taxes out. So assuming this million is tax free I could swing it. Just wouldnt be a lavish lifestyle by any means.
Unlike my brother id just be supporting myself. He still manages to buy shit like video gamea and other frivolous things so without a girl and child burdening my finances I think id do a bit better than him. He only struggles if a major expense comes up. --- Cid- "looks like that overgrown lobster just got served!" Bartz-"with cheese biscuts AND mashed potatoes!" ... Copied to Clipboard!
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PIITB415 08/06/19 11:11:45 AM #16: |
LMAO no. The median house cost here is more than that.
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Giant_Aspirin 08/06/19 11:12:42 AM #17: |
YoshitoKikuchi posted...
Could YOU make it last for the next 50-70 years without investing or earning any further income? nope. but with 5% gains / year i probably could. $50k/year would be more than enough to cover my living expenses. my biggest pain point would be health insurance. --- Playing: Sunset Overdrive, Vermintide 2 You see it your way, I'll see it mine and I'll be fine ... Copied to Clipboard!
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--Zero- 08/06/19 11:30:04 AM #18: |
For the next 40-60 years? Yeah, but I'd live dirt poor and end up in a shitty nursing home cause I had to live off rice and noodles the rest of my life. My rent alone would take away half of that before I die. Add in utilities, groceries, gas, insurance then yeah id be dirt poor.
Thats not even considering rising inflation over time. 2 million yeah I'd retire comfortably. Maybe if I was 10 years older then 1 million wouldn't be so bad. I guess I could buy a small home and learn to fix and build my own shit as a way to live off a million. --- SIGNATURE ... Copied to Clipboard!
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Feline_Heart 08/06/19 11:30:40 AM #19: |
Of course not lol
--- Pickles the Drummer doodily doo ding dong doodily doodily doo ... Copied to Clipboard!
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mooreandrew58 08/06/19 11:32:00 AM #20: |
--Zero- posted...
For the next 40-60 years? Yeah, but I'd live dirt poor and end up in a shitty nursing home cause I had to live off rice and noodles the rest of my life. My rent alone with take away half of that before I die. Add in utilities, groceries, gas, insurance then yeah id be dirt poor. Yeah true on thr inflation. So I ammend my post to say if cost of living somehow managed to stay roughly the same.which aint gonna happen though.. --- Cid- "looks like that overgrown lobster just got served!" Bartz-"with cheese biscuts AND mashed potatoes!" ... Copied to Clipboard!
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Cleo_II 08/06/19 11:33:05 AM #21: |
No, my mortgage would eat a good chunk of that.
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YoshitoKikuchi 08/06/19 12:56:07 PM #22: |
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NES4EVER 08/06/19 1:00:50 PM #23: |
If I won a million dollars and couldn't invest it, I wouldn't retire.
If I could invest it, I'd still work but I'd let my wife retire. --- nu-horsemen 4evar [A GameFAQs Moderator was deleted by this message] ... Copied to Clipboard!
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Solid Snake07 08/06/19 1:04:49 PM #24: |
Not without investing it no.
That's 20k a year for 50 years, which is nothing. Never mind after 20 years of inflation chipping away at it. --- "People incapable of guilt usually do have a good time" -Detective Rust Cohle ... Copied to Clipboard!
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emblem boy 08/06/19 1:07:22 PM #25: |
Without investing any further income? As in I can invest the 1 million but nothing more?
Could I? Sure. But I wouldn't. --- Posted with GameRaven 3.5.1 ... Copied to Clipboard!
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YoshitoKikuchi 08/06/19 2:39:10 PM #26: |
emblem boy posted...
Without investing any further income? As in I can invest the 1 million but nothing more? You can't invest any of it --- Dont be ridiculous. I think FIVE evil steps ahead https://imgur.com/YQpeyD3 ... Copied to Clipboard!
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pauIie 08/06/19 2:39:52 PM #27: |
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Behaviorism 08/06/19 2:48:54 PM #28: |
Only on CE can people not retire with a million freaking dollars
--- Nikki Cross is a tag team champion! 8/5/19 ... Copied to Clipboard!
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Hanky_Bannister 08/06/19 2:50:38 PM #29: |
i did
i live of interest --- "3rd Best Whiskey in Northern Burma" https://www.youtube.com/watch?v=hvjOu4EzjYg ... Copied to Clipboard!
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EndOfDiscOne 08/06/19 2:50:47 PM #30: |
Behaviorism posted...
Only on CE can people not retire with a million freaking dollars A million that you can't invest? Lol I'd like to hear the reasoning behind this. --- I am the Cheese! I am the best character on the show! I am better than both the salami and the bologna COMBINED! ... Copied to Clipboard!
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John_Galt 08/06/19 2:51:46 PM #31: |
Behaviorism posted...
Only on CE can people not retire with a million freaking dollars Not all of us live in squalor --- Who is John Galt? ... Copied to Clipboard!
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mooreandrew58 08/06/19 2:56:52 PM #32: |
John_Galt posted...
Behaviorism posted...Only on CE can people not retire with a million freaking dollars Yeah as I pointed out in my initial post the job im about to start after 50 years (assuming i work there that long and get no pay raises) I will have made only a little over 1.5 million not considering taxes. The job pays 32k a year before taxes. Thats liveable but its also not accounting for the fact prices will go up as time goes by. --- Cid- "looks like that overgrown lobster just got served!" Bartz-"with cheese biscuts AND mashed potatoes!" ... Copied to Clipboard!
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MC_BatCommander 08/06/19 4:10:58 PM #33: |
Behaviorism posted...
Only on CE can people not retire with a million freaking dollars Do the math, you'd be surviving on less than 20 grand a year unless you died young. That's significantly less than my wife and I make now, we'd be seriously downgrading our life and housing where we are would not be affordable. All things considered, a million bucks doesn't go very far in today's world --- The Legend is True! ... Copied to Clipboard!
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im not 13 08/06/19 4:15:09 PM #34: |
I could survive technically but it won't be comfortable
Buying a house will take more than half. I then have to spend 50 years on 10k a year which isn't a lot of money at all where I live --- ... Copied to Clipboard!
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apocalyptic_4 08/06/19 4:16:25 PM #35: |
No one can retire now with 1mil they cant invest with.
--- XBL: Mrpicardbottoms ... Copied to Clipboard!
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EnragedSlith 08/06/19 4:17:53 PM #36: |
Could? Yeah. Would it be comfortable? Absolutely not.
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Iodine 08/06/19 4:38:22 PM #37: |
I don't see how it would be possible unless your rent is 0.
--- In Belichick we Trust ... Copied to Clipboard!
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StickFigures720 08/06/19 4:49:06 PM #38: |
I'm not sure if even a drifter can live off that much money for long.
--- "You are not entitled to your opinion. You are entitled to your informed opinion. No one is entitled to be ignorant." - Harlan Ellison ... Copied to Clipboard!
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apocalyptic_4 08/06/19 4:57:03 PM #39: |
Behaviorism posted...
Only on CE can people not retire with a million freaking dollars Please enlighten CE on how to stretch 1mil across your lifetime without investing or flipping it @Behaviorism --- XBL: Mrpicardbottoms ... Copied to Clipboard!
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Behaviorism 08/06/19 5:00:01 PM #40: |
apocalyptic_4 posted...
Behaviorism posted...Only on CE can people not retire with a million freaking dollars TC said retire as in right now. I'm not in my teens. I could be given a million bucks right now and live off it for the rest of my life. --- Nikki Cross is a tag team champion! 8/5/19 ... Copied to Clipboard!
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Giant_Aspirin 08/06/19 5:01:32 PM #41: |
Behaviorism posted...
apocalyptic_4 posted...Behaviorism posted...Only on CE can people not retire with a million freaking dollars how much longer do you plan on living? --- Playing: Sunset Overdrive, Vermintide 2 You see it your way, I'll see it mine and I'll be fine ... Copied to Clipboard!
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EndOfDiscOne 08/06/19 5:03:42 PM #42: |
Behaviorism posted...
apocalyptic_4 posted...Behaviorism posted...Only on CE can people not retire with a million freaking dollars Have you done the math? What are your annual expenses? And if you have to start paying health insurance after retiring, factor that in. --- I am the Cheese! I am the best character on the show! I am better than both the salami and the bologna COMBINED! ... Copied to Clipboard!
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Feline_Heart 08/06/19 5:08:37 PM #43: |
Behaviorism posted...
apocalyptic_4 posted...Behaviorism posted...Only on CE can people not retire with a million freaking dollars Unless you're 50 or 60, no you couldn't. --- Pickles the Drummer doodily doo ding dong doodily doodily doo ... Copied to Clipboard!
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berlyman101 08/06/19 5:09:15 PM #44: |
Not without investing it with the lifestyle I want. You could hardly do anything.
Medium tier house and car plus utilities, taxes, and maintenance - likely half of it gone at least over 50+ years. Cost of living leaves you about ten grand a year for food and necessities. You could be a hermit who lives off TV dinners and beans. Forget it with inflation and medical expenses This is borderline insulting --- ... Copied to Clipboard!
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OffTempo 08/06/19 5:18:24 PM #45: |
If I moved from California and invest smartly I suppose I could.
--- Interviewer: "You're not even a superhero you're more of a vampire slayer." Blade: "Don't do that" ... Copied to Clipboard!
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UnholyMudcrab 08/06/19 5:26:40 PM #46: |
Living for 70 years on a single million is probably only possible if you live in rural Mississippi or something
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Irony 08/06/19 5:27:48 PM #47: |
Easily
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PMarth2002 08/06/19 5:31:13 PM #48: |
Probably not 50-70 years, but I could probably do around 40 years.
--- No matter where you go, there you are. ... Copied to Clipboard!
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TheOnionKnight 08/06/19 5:31:16 PM #49: |
If inflation didn't exist, then yeah. With inflation, ehhhh maybe, but it'd be tight.
--- The owls are not what they seem. ... Copied to Clipboard!
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Austin_Era_II 08/06/19 5:35:14 PM #50: |
Yes. Already did the math this month lol. But I wouldn't wanna flat out not work. Maybe do part time so it helps with some bills.
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