Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
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.
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!
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.
I'm not sure it's feasible but I'd like to keep my current job, but do it part time and only work on the things I enjoy working on. I don't mean not dealing with office politics and all that, I mean that I really enjoy some of the things I work on, but find other projects tedious. I'd love to pass on the tedious stuff to someone else, and keep just the things I really enjoy working on.
I already work for a not for profit, so I'd just as soon keep doing that as opposed to doing volunteer work someplace else. And if I worked part time, I would have time left for more travel and other interesting things locally that I don't always have time for.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
