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If you really only needed 60k of 160k you'd be at an asset level to dip your toe into the risk pool
Huh? If I had $5 million today with no kids and still with my somewhat Minimalist lifestyle, I'm MORE THAN SET FOR LIFE off of the annual FDIC-Insured CD interest on that. Why in the world would I need to invest in stocks and go through 10 - 30 years of a roller coaster ride for?
Huh? If I had $5 million today with no kids and still with my somewhat Minimalist lifestyle, I'm MORE THAN SET FOR LIFE off of the annual FDIC-Insured CD interest on that. Why in the world would I need to invest in stocks and go through 10 - 30 years of a roller coaster ride for?
You wouldn't need to do anything just like you wouldn't need 160k in income
Yep, $5,000,000 is not nearly enough to retire on in the US, but overseas you could truly live like a king on that amount.
I'm not sure if you are being facetious or not, but that is a ridiculous statement.
If you can't live on $5MM you must be pretty dense.
Inflation aside.... that is $100,000 PER YEAR for 50 YEARS if it was just sitting in a non-interest bearing account. Again... if you can't live on that, God help 99% of the world's population.
And if you actually invest the money, you will be able to live off at least $100K per year (inflation adjusted) "guaranteed".... and actually closer to $200K per year if you subscribe to a 4% SWR.
OK, I'll play….5 mill, net after taxes:
-- give 200K to each of my 3 siblings = $600,000
-- give or set aside 15K to each of 15 nieces nephews and grand nieces and nephews = $225,000
-- live off 100,000 for myself the first year, so I can bank/invest the remaining 4 mill, then after that first year live off about half the gain so the principle grows.
The other 75,000 I'd help siblings and family a bit more here and there…pay off a car, or help with student loan debt, or whatever….
This 5 mill would be in addition to what I already have….a small pension, eventual Soc. Sec. I have a paid off house.
I think I'd be OK.
I wouldn't buy any investment properties, start any business, I'd let my money work for me with just boring banking and investing. I'd live in my same neighborhood. I MIGHT spend more on clothes or a car I'd get when I eventually need one. Mostly I'd travel more.
I'd like be able to be generous helping people on an individual basis. But I'd have to see. I'd set a budget for that. It wouldn't be much, so I'd just have to see how much good I could do with whatever I allocate. I'd talk to my CPA, see if he'd rather I just fund my own foundation (for tax purposes). And just see what I might be able to do…pay for a car repair of a person who's struggling, buy a month's food for an unemployed person, pay for a week's respite care for a burdened caregiver. I'd just have to see and look for the little needs that could make a difference. I also have a few established national and local charities I'd look into supporting more.
How do you not understand? You don't need to do anything like investing in the market just as you wouldn't need 160k in income. You would however have enough money to take on more risk and increases your chances of a greater return and open yourself up for greater possibilites knowning the downside wouldn't harm you at all
How do you not understand? You don't need to do anything like investing in the market just as you wouldn't need 160k in income.
How would you know what I need? Isn't that based on how much I am spending on an annual basis?
I said I would take the $5 million and slap it in a very long term CD, FDIC-Insured (brokered CD broken up over a number of banks) and live off of the interest. The annual interest would be $160,000 (3.25% rate a year) of which me personally, I wouldn't be spending that much on an annual basis.
The title of the thread is what would YOU do with $5 million. This is what I would do. Why are you telling me what I don't "need to do" and "should do" with my $5 million ??
How would you know what I need? Isn't that based on how much I am spending on an annual basis?
I said I would take the $5 million and slap it in a very long term CD, FDIC-Insured (brokered CD broken up over a number of banks) and live off of the interest. The annual interest would be $160,000 (3.25% rate a year) of which me personally, I wouldn't be spending that much on an annual basis.
The title of the thread is what would YOU do with $5 million. This is what I would do. Why are you telling me what I don't "need to do" and "should do" with my $5 million ??
I'm not sure if you have short term memory issues but you asked why in the world you would need to invest in the market. Don't ask people questions if you don't want a response and get your panties bunched about it. You clearly outlined you wouldn't need to do it but with that much money you could. I never told you what to do with your fake money. You are surely sensitive
I'm not sure if you have short term memory issues but you asked why in the world you would need to invest in the market.
Quote:
Originally Posted by Lowexpectations
Don't ask people questions if you don't want a response and get your panties bunched about it.
Quote:
Originally Posted by Lowexpectations
You clearly outlined you wouldn't need to do it but with that much money you could. I never told you what to do with your fake money. You are surely sensitive
ANOTHER example of you arguing JUST to argue
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