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Old 04-21-2019, 08:27 AM
 
6,844 posts, read 3,716,925 times
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Quote:
Originally Posted by Indigo Cardinal View Post
I think a lot of answers like this stem from that most of us can't get our minds around having that much money. We work for a living, and sometimes time off either means 'staycations' (because you can't really afford to go anywhere), or, "I have to take care of this, that, and the other around the house."

When the lottery hit that 1.3 billion awhile back, my coworkers and I had gone in on tickets together and joked about what we'd do if we won. I like to window shop houses (even ones I definitely can't afford) just because I find it fun. I'd mentioned there was a beautiful Victorian home that I'd be tempted to buy if I had the money, and then said, "But it has all this fancy carved woodwork that would be a pain to keep clean, and I'm not sure I'd want to spend time doing that." One of my coworkers pointed out that if I had the money to buy such a house, then I'd have the money to *hire* somebody to clean the woodwork for me. And that thought just really stunned me, because I'm so used to having to do my own cleaning that the thought of *really* being able to hire somebody to do it for me didn't enter my mind right away.
Reminds me of a documentary I saw once on the lifestyles of the wealthy (no, not that one about famous people partying, but working wealthy). One of the things it pointed out was what you just said. The wealthy pay people to do those mundane jobs of cleaning because it literally isn't worth their time. One of them said "I make $7000 an hour. If I take an hour to clean the bathroom, I lost $7000. It's cheaper to pay someone to clean the house than do it myself."
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Old 04-21-2019, 11:00 AM
 
Location: North Idaho
22,674 posts, read 28,709,830 times
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Quote:
Originally Posted by Tarkinson View Post
Say tomorrow, 10,000,000 was deposited in your checking account, would you still work?

Best not quit your job. The bank will quickly discover the mistake and pull it back out of your account.


$10 million is enough to retire on. Only if you are careful. Investment returns aren't that high. You could live on the interest and not touch the capital, but you would have to be disciplined about it. Money spends really fast and disappears into indulgence if you don't watch it.


More than one lottery winner has discovered that millions don't last forever.
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Old 04-21-2019, 01:05 PM
 
Location: Central IL
15,230 posts, read 8,523,201 times
Reputation: 35647
Quote:
Originally Posted by oregonwoodsmoke View Post
Best not quit your job. The bank will quickly discover the mistake and pull it back out of your account.


$10 million is enough to retire on. Only if you are careful. Investment returns aren't that high. You could live on the interest and not touch the capital, but you would have to be disciplined about it. Money spends really fast and disappears into indulgence if you don't watch it.


More than one lottery winner has discovered that millions don't last forever.
Only if you're a CURRENT millionaire might you have much trouble living on the properly invested returns from $10 million! Even at a very conservative 3% annual withdrawal rate that gives you $300k - that works for me! I mean, you'll always have SS too!
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Old 04-21-2019, 03:21 PM
 
Location: NYC
12,914 posts, read 8,744,614 times
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20 years ago, I was in the office of the CEO that had 400 million $ in personal wealth. He told me that being a CEO means coming to work at 7am and leaving at 7pm. He gets only 4 hours of sleep before he gets up at 5am and goes to the gym and goes straight to work. He puts in over 10-12 hours a work a day.
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Old 04-21-2019, 04:53 PM
 
Location: Washington state
5,440 posts, read 2,762,134 times
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If you were given millions of dollars, would you still work?
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Old 04-21-2019, 04:59 PM
 
935 posts, read 1,056,753 times
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No because I’d be afraid of someone finding a way to try to sue me for my winnings.

Idk how they’d do it, but I have faith that someone would attempt it. So I would not continue to work.
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Old 04-21-2019, 06:31 PM
 
Location: my little town
1,185 posts, read 406,528 times
Reputation: 1254
Inflation is accelerating. A fortune today may be lunch money later.
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Old 04-21-2019, 06:46 PM
 
5,340 posts, read 5,302,061 times
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No, not in the sense the OP likely means anyway.
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Old 04-21-2019, 07:06 PM
 
203 posts, read 74,664 times
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I would do nothing. I would sit on my ass. I would relax. I would do nothing.

Nothing, huh? You don't need a million dollars to do nothing. Look at my cousin. He's broke. Don't do ****.
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Old 04-21-2019, 07:15 PM
 
203 posts, read 74,664 times
Reputation: 947
Office space if you don't get it.
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