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Old 09-05-2014, 02:51 PM
 
Location: Schenectady, NY
308 posts, read 402,505 times
Reputation: 332

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Move to a cheap city and ball out man.
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Old 09-05-2014, 02:56 PM
 
Location: Jacksonville, FL
11,145 posts, read 14,119,247 times
Reputation: 7075
I would say $350K is plenty to start a new life anywhere in the U.S. Even $100K would be.
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Old 09-05-2014, 03:44 PM
 
4,060 posts, read 4,462,157 times
Reputation: 2855
Really depends on what kind of life you envision. Also depends whether you plan to work, what sort of future income you envision, and how long you expect to float on just the cash you have.

What would I do with $400k, assuming I didn't plan to work right away? Well, first off I'd probably look somewhere besides the U.S. or Canada, but since you specified, I'll play along.

If you're not planning to work, you don't care about labor market, but you still want somewhere that's a good balance of cheap and nice. Maybe a Wilmington NC? Spend $135k or so on a house, have $250k left for living expenses. Could probably get by on about 30k a year - assuming you could turn some of that 250k into cash-yielding assets you might be able to skate on what you have for maybe 10-12 years. Maybe rent a room in your house for $300/mo and you could make the money last 20 or more.

But pretty unlikely it's going to carry you off into a comfortable permanent retirement.
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Old 09-05-2014, 03:45 PM
 
Location: Nashville TN
4,925 posts, read 4,913,870 times
Reputation: 4778
Everyone knows you can't start a new life without 351 k.. come on man...
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Old 09-05-2014, 04:01 PM
 
Location: Scottsdale AZ
556 posts, read 631,414 times
Reputation: 655
Its getting hard to decipher which threads are actually serious.


Honeslty, I think you can 'start a new life' with a hell of a lot less than 250K. 10K would do it.
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Old 09-05-2014, 04:02 PM
 
56,569 posts, read 80,870,855 times
Reputation: 12499
Quote:
Originally Posted by cakecakecake View Post
Move to a cheap city and ball out man.
That may not be a bad idea and if they can build up some equity by buying in a nice area of town in demand. That way if they want to move on, they can make out on the positive end.
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Old 09-05-2014, 04:03 PM
 
Location: Nashville TN
4,925 posts, read 4,913,870 times
Reputation: 4778
Quote:
Originally Posted by petroglyphin View Post
Its getting hard to decipher which threads are actually serious.


Honeslty, I think you can 'start a new life' with a hell of a lot less than 250K. 10K would do it.
Cocaine is a hell of a drug thats all I have to say about this post. I know people who have retired on less than 350k lol
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Old 09-05-2014, 04:16 PM
 
Location: Nashville TN
4,925 posts, read 4,913,870 times
Reputation: 4778
Quote:
Originally Posted by petroglyphin View Post
You need at least one million dollars to start a new life. Everybody knows that.
I love this!!!!! Kudos to you lol
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Old 09-05-2014, 11:00 PM
 
Location: Wonderland
44,713 posts, read 36,132,256 times
Reputation: 63310
Has anyone noticed that the OP doesn't mention a career at all? Without working, 350K will not last all that long for a 31 year old. I mean, it certainly won't carry him for a lifetime.
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Old 09-06-2014, 12:09 AM
 
Location: Boise
43 posts, read 61,848 times
Reputation: 41
You could literally do it with 1/100th that amount if you had a steady job lined up.

Where are you originally from? Your biggest issue seems to be finding a way to actually immigrate.
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