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View Poll Results: If you had a guarenteed income of $1,500 a month you would....
Yes I would keep working 86 64.18%
I would quit and live off 1500 a month 10 7.46%
I would quit to start my own business 12 8.96%
I would work part time-maybe 20 hours a week 11 8.21%
None of these choices would match my behavior 15 11.19%
Voters: 134. You may not vote on this poll

 
 
Old 11-12-2014, 07:07 AM
 
Location: Out West
20,697 posts, read 15,469,075 times
Reputation: 24247

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I would invest it and keep working. It would be enticing to take a few months off, (I can actually live off of that amount), but I would never have anything extra. But to just get $1500 a month for no reason...well, of course someone is paying for it somewhere, the least I can do is invest that money, and eventually I can quit working and live off the interest of my investments.
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Old 11-12-2014, 07:19 AM
 
Location: East St. Paul 651 forever (or North St. Paul) .
2,869 posts, read 2,715,312 times
Reputation: 1446
Quote:
Originally Posted by Tall Traveler View Post
1500/mo is poverty. Yes, I would keep working. I can't seem to get by on less than $7K/mo spending currently....so the amount at which I wouldn't have to work would be about $10K/mo. I have friends that won $6M in the Washington lottery and both kept working their same jobs. Considering the long hours I currently work, I would stop working and just manage my investments if/when I get up to that $10K/mo.


Do you drive a Bentley too?

I could easily live off of $1.5K a month. No problem. But then again I'm very frugal, single male with no kids who doesn't lust for too many material things.
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Old 11-12-2014, 07:19 AM
 
Location: Newport Beach, California
31,526 posts, read 18,484,196 times
Reputation: 12191
I get more than $1,500 guaranteed income (trust fund and other sources), I still work like a dog.
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Old 11-12-2014, 07:23 AM
 
Location: Newport Beach, California
31,526 posts, read 18,484,196 times
Reputation: 12191
Quote:
Originally Posted by Govie View Post


Do you drive a Bentley too?

I could easily live off of $1.5K a month. No problem. But then again I'm very frugal, single male with no kids who doesn't lust for too many material things.
Do you pay rent? Here in California, 1 one bedroom apartment is easily $1,200/month. If you are a homeowner, you still have to pay property tax and insurance, so that poster could be accurate depends on where he lives.
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Old 11-12-2014, 07:25 AM
 
48,975 posts, read 39,447,996 times
Reputation: 30630
Quote:
Originally Posted by Govie View Post


Do you drive a Bentley too?

I could easily live off of $1.5K a month. No problem. But then again I'm very frugal, single male with no kids who doesn't lust for too many material things.
I'm in roughly the same boat as that other guy and no, I don't drive a Bentley.

I have A LOT of dependants, my grocery bill alone is bad enough.

However, if I were single I could easily do the 1500/mo. as like you I'm fairly frugal and would be happy with a simple life.

The big question mark is WHERE. Cost of living varies so wildly that it's really quite doable in cheaper parts of the country.
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Old 11-12-2014, 07:26 AM
 
Location: East St. Paul 651 forever (or North St. Paul) .
2,869 posts, read 2,715,312 times
Reputation: 1446
Quote:
Originally Posted by lilyflower3191981 View Post
Do you pay rent? Here in California, 1 one bedroom apartment is easily $1,200/month. If you are a homeowner, you still have to pay property tax and insurance, so that poster could be accurate depends on where he lives.
It doesn't take that much. Not even close if you look around here. $600 if you look around enough.
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Old 11-12-2014, 07:30 AM
 
Location: Newport Beach, California
31,526 posts, read 18,484,196 times
Reputation: 12191
Quote:
Originally Posted by Govie View Post
It doesn't take that much. Not even close if you look around here. $600 if you look around enough.
Look around enough around WHERE? Southern California? $600 apartment lol man.

I said California, not upstate New York.
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Old 11-12-2014, 07:31 AM
 
2,778 posts, read 1,346,007 times
Reputation: 2418
I would definitely keep working.

And if everyone made the same money, everything would be cheaper and I would be able to afford things I couldn't now.

I would probably try to get overtime.
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Old 11-12-2014, 07:32 AM
 
20,611 posts, read 12,304,914 times
Reputation: 5895
IMHO it would depend on how "old" the person was and where he or she lived.

A 25 YO in good health should want to work if possible.

A 55 YO in not so good health; maybe not. But the 55 YO should still want to volunteer his time helping other people IF possible.
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Old 11-12-2014, 07:38 AM
 
Location: Florida
21,496 posts, read 10,418,949 times
Reputation: 7771
$1500 is a small amount of money considering the cost of living today. Food, housing, healthcare, utilities and the necessities would eat it up in a heartbeat. One would have to work to keep the wolf from the door.
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