[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 64 KB, 803x985, 1674293400200355.jpg [View same] [iqdb] [saucenao] [google]
58397699 No.58397699 [Reply] [Original]

Is $1 million dollars still a lot of money?

>> No.58397705

It is enough to buy a night with Emma Myers.

>> No.58397723

>>58397699
It's enough for you to retire on and live comfortably from 70-80 years old. Enjoy your golden years on carnival cruises.

You only need to wagie for another 50 years OP to accumulate $1 million and retire on it.

>> No.58397730

>>58397699
1M is 47 years of my current income.

>> No.58397767

1 million is not enough
10 million is

Just my opinion

>> No.58397780

>>58397699
1 million is $40k a year tax free without touching your principal

>> No.58397916
File: 23 KB, 631x411, 1699970549368711.jpg [View same] [iqdb] [saucenao] [google]
58397916

>>58397699
a lot of money for what? what do you want to do? earn 400K a year without working?
>>58397767
enough for what?

>> No.58398052

>>58397699
no, never, nada

>> No.58398058

>>58398052
ID confirms

>> No.58398084

She has brown spots in her eyes that means she's a nigger.

>> No.58398105

>>58397699
i guess depends on the country.
if you had $1mil in japan it would be worth 150 times more and i guess in other hellholes like latin america $1mil is probably like infinite brown money.
it's all a matter of perspective really.

>> No.58398160

>>58397699
would

>> No.58398239

>>58398084
still purer than you

>> No.58398284

>>58397699
Ask yourself this:
If i lost a million dollars in one second, would i care?
If you would, its a lot money for you.
If you cant lose it because you dont have it, its a lot money for you
Now kys demoralizing faggot

>> No.58398295

>>58397780
this, think of it in terms of what you can get risk free, if interest rates are lower think of it in SCHD or something similar, that would be ~30k a year in dividends. not enough to live on but a very nice boost if you're still working and investing

>> No.58398298

>>58397699
No.

>> No.58398343

>>58397699
1 mil is the new 100k
but still a life changing amount nonetheless

>> No.58398355

>>58398295
People who say "$1 million isn't that much anymore" fall into 2 camps:

1. Annoying Twitter/LinkedIn influencers trying to demoralize you
2. People with $8k to their names who underachieve in life

$1 million frees you up to quiet quit every job for the rest of your life, even if you still work.

>> No.58398580

>>58397699
Yea with the right investments you can make back a yearly wage easily

>> No.58398608

>>58397699
I could retire today with a million dollars.

>> No.58398644

>>58398355
>>58397699
I mean I have about $2 million, but also a wife and kids. It's not nothing, comparatively, but it's very much middle class and I don't think anyone here would deny that. It's not enough to break into the upper class by any means. I would say around $12M, when you can start to see $500k+ annual income passively, is where you start getting into the upper class. And the "ultra high net worth" starts around $30m. Then the funny thing, I think, is that from like $30m to a few hundred million there's virtually no change, and then from a few hundred million it takes well over like $1.5 billion to really notice a difference.

Someone with $30 million and someone with $120 million are somewhat comparable. This is not nearly the case between someone with $3 million and $12 million.

>> No.58398653

>>58398644
>>58397699
You can look up most well-known entertainers and "internet celebrities" and see that most of them fall between $3 million and $12 million, right around there. The burgeoning upper middle and lower upper class.

>> No.58398654

>>58397699
It's enough to make $50k a year with zero risk just from interest in keeping it in a savings account, and that's enough to live a comfortably middle class life in America.

>> No.58398655

>>58397699
If I want to have ten years of retirement starting in 2054 I would need $1.5m. By all estimates I will only have $1m. So maybe I can retire for 6 years.

>> No.58398666

>>58398343
>Is still a lot?

no idea
never had that much

<you tell me

>> No.58398771

>>58398655
>only retire for six years
Theoretically you should be able to survive off less once retired; You can allow yourself $4,000 per month and that'll last for 20 years if you only have a million (though this is based on the idea you won't have to buy significant assets such as a house etc.). How have you worked out that you'll blow through one million in a single year?

>> No.58398789

>>58397699
The difference between those who want to create a legacy with passive income, and only live off of passive income forever, and those who are fine simply spending the principal until they die, is so massive it's like 2 separate worlds. $1 million is a lot if you have no problem dying with nothing. It's not much at all if you want to live on passive income alone.

>> No.58399810

>>58398771
I'm estimating my salary translated to the future through inflation. That's how I came to $150k/yr x 10 years =$1.5m
You're right that if I have a paid off house that number gets lower/easier. I'm just not sure if I will have a paid off house, considering I am 30 and haven't bought one yet.
>>58398654
>50k per year
>comfortably middle class
What decade are you from? If you owned a paid off house maybe.

>> No.58399998

>>58399810
What? You don’t have a paid off house? No wonder six figure meme is so important to you LOL

>> No.58400061
File: 2 KB, 125x109, 1597170506158s.jpg [View same] [iqdb] [saucenao] [google]
58400061

>>58397723
I got that at 25. So many poor fags.

People in this thread saying they 5 million when they can't even get 5k. LOL

>> No.58400072

>>58397699
It's complete shit, its not enough to do anything with except maybe scrape by on for 5yrs, never mind investments, making a business, etc...

>> No.58400260
File: 186 KB, 2328x2237, map-escorts-how-much-around-world-high-res.png [View same] [iqdb] [saucenao] [google]
58400260

>>58397699
~$300 for an evening of fun, that's almost fun every night for 10 years, or friday-fun for the rest of your life.

>> No.58400264

I'm a poorfag so yes

>> No.58401364
File: 602 KB, 1258x1068, 1712986969115656.png [View same] [iqdb] [saucenao] [google]
58401364

>>58397699
I unironically would be the happiest man alive if I had 1million dollars in bitcoin lol

>> No.58402190
File: 886 KB, 300x142, 1710865976575908.gif [View same] [iqdb] [saucenao] [google]
58402190

look at the inflation rate then look at truflation then look at the street then look at the wall street jorunal. a milly is fucking NOTHING now.

>> No.58402241

>>58398644
Good points.

>> No.58402246
File: 1.85 MB, 4096x2304, file.jpg [View same] [iqdb] [saucenao] [google]
58402246

>>58397699
think about what car you want to drive
multiply its cost by 20

thats roughly how much you'll need, assuming that car is the same lifestyle you want to live

>> No.58403571

>>58400264
me too breh

>> No.58405167

>>58397699
Dump it on MMON now during the presale then check back how richer you're gonna be after the halving. That's a 1000x solana memecoin, don't fuck with it.