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/biz/ - Business & Finance

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30378925 No.30378925 [Reply] [Original]

genuinely explain to me how 7 figures isn't enough to live off of. I don't get it. so many of you complain but I think it's simply that you want to live ridiculous lifestyles that can't merit 7 figures, so you end up wanting hedonism at the expense of your portfolio. I guarantee you, you could give me $999,999 right now and I would never need to earn or be given another cent again, and I'm in my 20s. Why can't you live a life of meaning on such a major sum of money anon? Surely you're not so bad at spending money that you need 8 figures to be happy

>> No.30379022

>>30378925
if you buy a beautiful home for 200,000 you can essentially be happy. if you're a high roller and need the 300K-400K range that's fine. But what the fuck couldn't you do with $999,999.00 that you suddenly need $10,000,000 all of a sudden? Why is that the magic number for you faggots?

>> No.30379153

>>30378925
You have to account for your ambitions becoming more expensive. Yes, it's easy to live off of 1M USD if you want to live like a broke collegefag for the rest of your life, but if you want to break into a craft like woodworking or ceramics, or become eg. a land developer in a location that has a high density of interesting and wealthy people, you will need 1M in overhead alone just to get off the ground without bowing down to somebody else and borrowing money.

>> No.30379185

>>30379022
Property tax, vehicle and upkeep, insurance, groceries each month, utilities. It all adds up.
Id need 5 million to retire comfy but not lavish.

>> No.30379186

You're in your 20s you don't know shit kiddo

>> No.30379226

>>30379185
That would be 70 years at 50k a year.

>> No.30379270

>>30379226
Plus a 2 million dollar home B)

>> No.30379722

>>30379186
lmao I'm sure your mind is in its prime Gen X faggot

>> No.30380028

>>30379185
>Id need 5 million to retire comfy but not lavish.
$500k to outright own a huge house and 10 acres in Midwest

$4k/year property tax
$40k every 5 years for a luxury car = $8k/year
$750/mo utilities = $9k/y
$500/mo food = $6k/y
$500/mo hobbies = $6k/y
Monthly trips somewhere nice, $12k/y

Total: $45,000/y expenses (and most of those numbers are hugely inflated)

$5m, sitting under your mattress doing nothing, lasts you 100 years

>> No.30380094

>>30378925
If you're going to remain single forever and live in a 200k house then sure

>> No.30380712

>>30380028
Forgot about inflation anon

>> No.30381005

>>30378925
1 million in 1990 is the equivalent to 14 million in 2021.

>> No.30381265

>>30378925
It is. You can easily turn 1M into an $80k/year salary or more. Enough to support a family with 2 kids unless you want to be some turbo consoomer city faggot.