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Old 04-24-2019, 11:25 AM
 
Location: Yakima yes, an apartment!
8,340 posts, read 6,790,598 times
Reputation: 15130

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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?
Work? Why?
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Old 04-25-2019, 12:23 PM
 
Location: Willowbrook, Houston
1,442 posts, read 1,568,601 times
Reputation: 2086
Yes, but I'd invest that $10,000,000 so I can generate at least 10-12% a month for life.
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Old 04-25-2019, 11:02 PM
 
Location: Northern California
4,616 posts, read 3,005,102 times
Reputation: 8384
Quote:
Originally Posted by SOON2BNSURPRISE View Post
You are in San Francisco. How long can you live on $1million
For a lifetime, as long as I stayed in the same (rent-controlled) apartment.

But, being retired now, I'm planning to leave big cities behind....
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Old 04-27-2019, 10:14 AM
 
1,569 posts, read 1,010,399 times
Reputation: 3666
I would do pt...20 hrs a week and that is it.We as human beings need to keep our minds and body active.Of course working 20 hrs a week would give me plenty of time to enjoy and do other things.
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Old 04-27-2019, 10:57 AM
 
5,317 posts, read 3,229,962 times
Reputation: 8245
Quote:
Originally Posted by SOON2BNSURPRISE View Post
You are in San Francisco. How long can you live on $1million
Ten minutes.
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Old 04-27-2019, 12:38 PM
 
Location: Central Ohio
10,834 posts, read 14,940,293 times
Reputation: 16587
I'm 70 with a retirement income of over $5,000 a month that would be tax exempt if I didn't work but I am still working 45+ hours weekly just because I want to.

I always liked working and I figured if I saved everything from my job, which I am doing, I would have plenty of money if I ever do decide to retire.

A million dollars isn't enough to stop working if you are under 50. If you're 50 you can figure living 35 more years $1,000,000/35=$28,571 and that would be poverty living.

From my experience you need to be debt and mortgage free with a retirement income of at least $40,000 to live halfway comfortable.

I figure I will work to until 75 and maybe later.
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Old 04-27-2019, 06:55 PM
 
7,977 posts, read 4,989,854 times
Reputation: 15956
Quote:
Originally Posted by nicet4 View Post
I'm 70 with a retirement income of over $5,000 a month that would be tax exempt if I didn't work but I am still working 45+ hours weekly just because I want to.

I always liked working and I figured if I saved everything from my job, which I am doing, I would have plenty of money if I ever do decide to retire.

A million dollars isn't enough to stop working if you are under 50. If you're 50 you can figure living 35 more years $1,000,000/35=$28,571 and that would be poverty living.

From my experience you need to be debt and mortgage free with a retirement income of at least $40,000 to live halfway comfortable.

I figure I will work to until 75 and maybe later.



Its best to keep working if you want to stay in good health definitely

Last edited by DorianRo; 04-27-2019 at 07:46 PM..
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Old 04-27-2019, 10:47 PM
 
Location: In a perfect world winter does not exist
3,661 posts, read 2,950,643 times
Reputation: 6758
My tolerance with dealing with !@#& holes would be than 1 percent if had millions to back me up. I would be fired way too many times to hold a job.
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Old 04-27-2019, 11:55 PM
 
164 posts, read 119,388 times
Reputation: 335
No way. I'd put it all into a CD and collect $300,000 in interest every year.
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Old 04-28-2019, 04:04 PM
 
Location: Altadena, CA
1,596 posts, read 2,059,726 times
Reputation: 3004
Quote:
Originally Posted by Tarkinson View Post
Say tomorrow, 10,000,000 was deposited in your checking account, would you still work?
I would go stir crazy if I wasn't working, doing something productive. So yes, I would still work, maybe part-time, but be doing something I love.

Bill Gates still works.
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