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Boring life. Can you do it, maybe. You say you have a child so what is your annual support payments and what in addition are you required to spend on your child? Children get sick or injured and unfortunately insurance doesn't cover everything. What happens if this occurs and you are required to help pay the expenses?
I will tell you that if you count on your $800K investments to increase in value every year you are sadly mistaken. I have had investments since 1985 and while some years I have had substantial increases in value there are other years where I lost substantial amounts. The thing with investments are they are up and down and if you aren't in for the long term you are going to lose at some point. We let things play out, never touching the investments. Over time (yes time of over 30 years) they have done amazingly well but if I had attempted to no longer work and live on what I had back then I would be broke now. Instead of trying to live off of this money why not try and find something you like to do for work. While many look at their jobs as just jobs there are others out there who have jobs that they love and go into work every day like it is their first day. Maybe there is something in the self employment aspect that you enjoy doing. Not working for the rest of your life is just plain boring. If money were the only thing, then the extremely wealthy would sit on their yachts for the rest of their lives. They don't, because it is boring as hell.
If you want to give it a shot, go ahead but I expect that either you will bore yourself to death in a short period of time or you will find that your $800K is quickly dropping in value.
Good luck
What interesting stuff are you doing today?
And boring? It’s what you make of it.
I will never find something I like to do FOR WORK. I just do what I like. The second I’m told to do things I don’t want to do — I’m out. I call this freedom.
Having been retired for a while now, I’ve come to appreciate boredom. Believe it or not but enough boredom can lead to inspiration and creativity.
Those who read my words will probably have an inquisitive/logical/goal oriented nature like myself which will allow them to read past the personal attacks on me and interpret my words for what they are.
This has been proven false, since the overwhelming majority of those who read your words find you dishonest and exhibiting personality disorders related to false hubris.
What "will probably" do is exactly what has been demonstrated in every thread you start. People see right through you.
Just laying on the couch watching some talk show...thinking about what I want to eat in a little bit.
I may finish raking some leaves today since it’s so warm outside.
I may say I’ll take a nap but who knows. Every second is a mystery.
Edit: probably K&W cafeteria since it’s awesome and they have a 2 for $16.99 special on Mondays....you get meat/2 sides/desert/drink x2 for that price!
Wow, you do that twice a week and it’s almost 15% of your annual budget just to eat out a couple of times a week for lunch. Some life.
Maybe you can ask your wife nicely she will give you some extra lunch money.
This has been proven false, since the overwhelming majority of those who read your words find you dishonest and exhibiting personality disorders related to false hubris.
What "will probably" do is exactly what has been demonstrated in every thread you start. People see right through you.
Location: Formerly Pleasanton Ca, now in Marietta Ga
10,351 posts, read 8,567,170 times
Reputation: 16693
Quote:
Originally Posted by NorthofHere
Boring life. Can you do it, maybe. You say you have a child so what is your annual support payments and what in addition are you required to spend on your child? Children get sick or injured and unfortunately insurance doesn't cover everything. What happens if this occurs and you are required to help pay the expenses?
I will tell you that if you count on your $800K investments to increase in value every year you are sadly mistaken. I have had investments since 1985 and while some years I have had substantial increases in value there are other years where I lost substantial amounts. The thing with investments are they are up and down and if you aren't in for the long term you are going to lose at some point. We let things play out, never touching the investments. Over time (yes time of over 30 years) they have done amazingly well but if I had attempted to no longer work and live on what I had back then I would be broke now. Instead of trying to live off of this money why not try and find something you like to do for work. While many look at their jobs as just jobs there are others out there who have jobs that they love and go into work every day like it is their first day. Maybe there is something in the self employment aspect that you enjoy doing. Not working for the rest of your life is just plain boring. If money were the only thing, then the extremely wealthy would sit on their yachts for the rest of their lives. They don't, because it is boring as hell.
If you want to give it a shot, go ahead but I expect that either you will bore yourself to death in a short period of time or you will find that your $800K is quickly dropping in value.
Good luck
Well he did mention CD, so large market fluctuations won't be an issue. Just a safe 2% return every year for a $16k income plus what his other half makes. Of course he will use much of it so it won't compound much and inflation will have him living pretty poorly years down the road. But then again maybe his other half will be able to cover the shortfall.
Well he did mention CD, so large market fluctuations won't be an issue. Just a safe 2% return every year for a $16k income plus what his other half makes. Of course he will use much of it so it won't compound much and inflation will have him living pretty poorly years down the road. But then again maybe his other half will be able to cover the shortfall.
My biggest concern with his plan would be healthcare. Who knows what his wife does, but changing the ACA rules and his subsidies disappearing could spell doom for him.
My biggest concern with his plan would be healthcare. Who knows what his wife does, but changing the ACA rules and his subsidies disappearing could spell doom for him.
My hedge against rising healthcare cost is growing my income by living below my means (middle class).
Obamacare calculator says for a 55 yr old an unsubsidized silver plan would be around $800/month. I could afford that NOW while still saving a little and not working.
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