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/biz/ - Business & Finance

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23373809 No.23373809 [Reply] [Original]

With 1 million you could pay off your debt, pay for a house and car with cash, or just reinvest it all into a boomer etf and make 80k a year doing nothing. You would still have to work either part time or full, but you could live like a king with no debt and no mortgage.

>> No.23373832
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23373832

>With 1 million you could pay off your debt, pay for a house and car with cash, or just reinvest it all into a boomer etf and make 80k a year doing nothing. You would still have to work either part time or full, but you could live like a king with no debt and no mortgage.
never cashing out
not at 10 million
not at 100m million
not at 1 BILLION

>> No.23374056

>>23373832
this is how you become an XRP bagholder

>> No.23374107

>>23373809
>1 million in crypto gains
that means you have closer to 2 million notional in crypto
why would you pay a million notional to cuck out at 80k per annum

>> No.23374138

>>23374056
More like LINK

>> No.23374202

Finally a woman

>> No.23374229

It is seething envy. Don’t talk about accomplishments because people will look for the negatives immediately because they can’t stand the thought that you’re doing better than them. It’s just human nature and survival instincts really. Had made a $10k+ profit deal on my side hustle (found a gem, extremely rare to make this much) And what I thought were close friends became quickly jealous only a couple actually seemed to care. But I mentioned the 10k thing to a few of them it was never met with good responses. It’s sad because I only got here by attempting emulation of successful people I came across and I loved hearing their achievements. Plebes will be plebes.
Long story short, 1m IS life changing and you could retire at any age if you’re frugal as fuck. It doesn’t take much to lower your cost of living to nothing especially with 1m. If you think you’re gonna be a metrosexual and live in a city then yeah, that would only last you 10 years of retirement.

>> No.23374727

Because they live in the US, where the cost for living is extremely high.
Go to latin america and you can change your life with 1 million USD easy.

>> No.23374811

>>23373809
its definitely life changing, but I think most of these folks are talking about "never work again" money which would be more like $2-5m if you're living in a major market.

>> No.23374832

After taxes it’s only 700000 in Burger land

>> No.23374883

>>23373809
100k is life changing for any neet regardless of location. It's just a little demoralizing campaign we created to pass the time

>> No.23374933

>>23374811
You need at least 5 million to retire to someplace nice that people actually want to fucking live.

>> No.23374994

>>23374933
$5m is like 250k a year in dividends if you're at 5%. This is just flat out wrong lol. I would assume most people can live at the median ($60k) or even $100k which at 5% would be $1.6-$2m

>> No.23375143

>>23374994
>what are taxes
>what is a non-shitty neighbourhood
>what are wealth-related expenses
$10mm sounds pretty ok for "making it."

>> No.23375183

>>23375143
10 Million is the kind of money where your kids never have to work again, if you don't squander the money and invest properly. For one or two individuals 5 million would be more than enough to retire. You could spend 1-2 million on a house and invest the rest.

>> No.23375304

>>23374727
/thread

>> No.23375352

>>23375183
That's $50mm tbqh...

>> No.23375413

>>23375143
how retarded are you? cap gains is 15% which is lower than income tax..

>> No.23375476

>>23375413
You still have to save up for private health insurance and other taxes, Anon. Where are you from?

>> No.23375495

>>23375413
Plus, the capital gain taxes are higher here.

>> No.23375534

>ITT poorfags coping by thinking they only need $1M to make it

You need at least $8.5M

Still a long way to go wagecucks

>> No.23375571

>>23374229
I only told close friends about major crypto losses. I never talk about gains.

>> No.23375597

>>23374883
Haven't had to regularly wake with an alarm clock since 2018 and it is a fucking game changer.

>> No.23375900

don't forget inflation

>> No.23376887

>>23374202
Powerful; brave; stunning.

>> No.23377026

>>23375476
people that make under $100k a year have no issue paying for these mate. think this one out.

>> No.23377670

>>23377026
>anon thinks making it means having to live in abhorrent poverty
>anon thinks "making it" means having to worry about losing your make it stack and not having at least two or three stacks as backup
Whew... At this point I'm not sure whether "comfy" and "make it" shouldn't be swapped? You "made it", but you aren't comfy. Instead you have to worry about losing your make it stack while being a miserly penny pincher. All without being able to support the virtual girlfriend of his dreams. Nice fantasies you got there, anon.