Vicetrailia
Banned
Not long. All debts would be gone and id set myself up for the future. Invest, Have money coming in from multiple places and also celebrate very well.
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How long could you stretch 1 million dollars? How many years?
- Thread starter Liquidsnake
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Liquidsnake
Banned
I mean I was having fun. With a couple different ones. I would rent Porches for 3 days just to drive around running errands, and impress the girls, even though i had a Jaguar at home. It was ridiculous.
CornBurrito
Member
Fairly long honestly. You can invest the 1 million and live off the money it generates.
This all day.
But even if I didn't invest, 1000000 would probably last me.... 20 years? 30? Probably more actually, as I am not know for needing stupid expensive crap to be happy.
narcosis219
Member
If I had a million bucks I'd almost buy a house.
Vancouver housing market can die in a fire
Vancouver housing market can die in a fire
CornBurrito
Member
I dunno what my mother was doing then. She inherited a large sum of money. Quit her job at roughly age 30. Lives off the interest. She is now 54. 24 years is quite a few years.
neoism
Member
well let me see I've never made move then 20k in one year in my life.. I've worked for 12 years and I'm still poor as fuck... soo at most I've only made like 200k + max....
so at most probably like 30 years or more... 1million is sadly not shit compared to what it was but yeah... I would invest it of course and make more money with it, but my main problem is I've been the go to guy in my family to barrow money so if I wasn't stupid with it it would most definitely last me for half my life... and 60 to me is loong enough
so at most probably like 30 years or more... 1million is sadly not shit compared to what it was but yeah... I would invest it of course and make more money with it, but my main problem is I've been the go to guy in my family to barrow money so if I wasn't stupid with it it would most definitely last me for half my life... and 60 to me is loong enough
blazeuk
Member
I could probably make it last the rest of my life with some investments too and would try to do so as well. It'd be nice to spend a ton of money all at once, but I've never particularly had much and I live on very little as it is, I still think I'd be very careful with what I spent. Not exactly the crazy lifestyle some would choose, but I'd still be able to make a good life out of it.
Sword Familiar
178% of NeoGAF posters don't understand statistics
If I had no other disposable income I could probably live a pretty good life around 30 years give or take after I've invested in a decent apartment:
Basic 30 year budget calculation:
I'd probably drop, at maximum, $145.000 (~1.000.000 SEK; I live in Sweden) into the apartment and give myself about $2.374 (~16.345 SEK) each month, which should be slightly below the mean salary in Sweden (2011) after taxes have been deducted (I apologize in advance for any miscalculations).
I don't really need that much to survive and since you're not paying taxes on the money you're giving yourself each month, plus it being a constant factor, it would be pretty easy to plan a budget around your spending, and even be able to save money each month for long term plans or if something goes south.
Ideally, I wouldn't stop working though, in which case I'd probably be able to use the money for the rest of my life, easily. I would probably try investing it for interest, too. I have no desire to live a life of luxury, and spending great sums of money without it being an actual potentially profitable investment kind of scares me, so I think I'd be able to do quite nicely with "only" 1 million.
Basic 30 year budget calculation:
I'd probably drop, at maximum, $145.000 (~1.000.000 SEK; I live in Sweden) into the apartment and give myself about $2.374 (~16.345 SEK) each month, which should be slightly below the mean salary in Sweden (2011) after taxes have been deducted (I apologize in advance for any miscalculations).
I don't really need that much to survive and since you're not paying taxes on the money you're giving yourself each month, plus it being a constant factor, it would be pretty easy to plan a budget around your spending, and even be able to save money each month for long term plans or if something goes south.
Ideally, I wouldn't stop working though, in which case I'd probably be able to use the money for the rest of my life, easily. I would probably try investing it for interest, too. I have no desire to live a life of luxury, and spending great sums of money without it being an actual potentially profitable investment kind of scares me, so I think I'd be able to do quite nicely with "only" 1 million.
I could make it last for at least 40 years. My rent is about $4900 a year. Internet and electric bills are a maximum $1200 a year. That's $6100 to say I have a place I can always go back to. I don't see the point in buying a house or condo because of property taxes. I might move somewhere else and up my rent to $800 a month for far better amenities but that's it. Portland, Gresham, and a suburb outside of Seattle that starts with an S (Seattle-GAF excuse me) are calling my name.
With that said, obviously I'm going back to college because why not? I'm taking my time to the tune of one class every semester. I'm interning around the world for at least four years because I can.
I could make $1 mill last forever if I had to. If I had $1 million no one would know it. I'd dress like a bum because I've yet to meet a rich person that's not a socialite that flaunts their wealth. I know humble rich people. Screw marriage and kids by the way. I want to be old rich and happy. Obviously, the first thing I'll do is splurge on the newest tech gadgets to the tune of a smartphone and a notebook. After that I'm chilling and getting to work.
Other than buying a bigger place and helping my parents out, it'd be a good buffer to hopefully last me a while. Honestly, I don't see my general lifestyle changing THAT much. I already have the stuff I want so I likely wouldn't be spending superfluous amounts on dumb shit. I wouldn't stop working, but I'd feel safer about having breaks between contracts.
killer rin
Member
I could make it go on forever. Place 750,000 in a fund, then live off the interest+250,000
I had to check, and my current portfolio has a 47% increase in the last three years.
But i calculate i could get around 5% annualy on average, giving me a bit less than i currently earn after tax and inflation (at the moment insignificant where i live) is deducted.
But i already spend way less than i earn anyway. I'm pretty sure i could keep my money at one million - adjusted for inflation - perpetually and never even have to deny myself much of anything.
No room for cocaine-binging though.
7 million SEK /1 million USD is actually the point where i've decided that i would seriously consider retiring. But then again, the points about spending more money with more free time is very relevant.
I'll see when i get there. I will probably get there within a decade.
If prices were stagnant at measly 2% interest would mean $20k, which is a bit over $1.5k, so in theory one million could go a long way if you've got enough self-restraint.
However, inflation is a bitch and we're talking several decades here. So nah, sadly, it would last way shorter than what most of posters here expect. For reference, 1 million in 2014 would translate to about 205k 40 years ago. It would work nicely at the beginning but reality would catch up soon enough.
However, inflation is a bitch and we're talking several decades here. So nah, sadly, it would last way shorter than what most of posters here expect. For reference, 1 million in 2014 would translate to about 205k 40 years ago. It would work nicely at the beginning but reality would catch up soon enough.
SquiddyCracker
Banned
I think I could survive on 20k a year, so about 50 years.
Wouldn't be very comfy though.
Wouldn't be very comfy though.
element
Member
Cheaper? Depends. Between housing, food, medical, and taxes Belize is probably a better investment.
Easier for foreigners to buy property.
Belize dollar is fixed/pegged at 2/1 to the US dollar.
Politically Belize is stable.
Two hour flight to Miami, 2 1/4 hour flight to Houston, 4 hour flight to LA, so you are still close to the US.
aorange999
Member
Sad how little one million dollars is in the grand scheme of things...the grand scheme being a big city like NYC, SF, London, HK or Sydney. The only way to make that stretch would be to not live in cities like that.
Hey I did the same thing, but it was 100 grand over a year.
Valkerionseven
Member
Could probably live a good 30-50 years on it. Personally I don't have a lot of monetary desires in all honesty. A decent home/apartment, a simple way to get around, and money for food im good. Some side expenses for videogames and "entertainment" is all I need.
Now if I was in a relationship... cut that in half or a third lol.
Now if I was in a relationship... cut that in half or a third lol.
It's actually pretty easy to battle against inflation, as long as your average rate of return is above the inflation rate.
PaperFlame
Member
I'll probably use the money to make a company, so I can take the risk to get even more money or lose it all.
Pankratous
Member
1 million? Probably about 10 years.
MidgarBlowedUp
Member
I live off of less than $12,000 a year right now, so easily the rest of my life without making any investments.
neogaffer1
Banned
I could probably stretch it out over a pretty decent length of time. One million dollars if you don't buy anything extreme like a mansion or a sports car can support you easily.
$400k house
$20k per year food/utilities (total guess tbh)
$20k per year other expenses (health, entertainment, etc)
$70k car (get a Tesla, fuel falls under utilities then)
That's about 5 years, and even then you're buying a house and a car and spending a lot on entertainment and the like.
$400k house
$20k per year food/utilities (total guess tbh)
$20k per year other expenses (health, entertainment, etc)
$70k car (get a Tesla, fuel falls under utilities then)
That's about 5 years, and even then you're buying a house and a car and spending a lot on entertainment and the like.
my family moved to the states when we were little, dad probably never made more than $40,000 a year ._.
I would probably just buy two separate houses one for myself, other for my parents so ..$100,000 each. ( here in michigan you can really find a nice house for $60k lol ) then...I would also buy a nice efficient car for my self and my parents so ..$40,000 there ..and the rest will go into savings..for family emergencies or such...so yeah I would probably be set for life.
I do plan on working though even if i had such money, for groceries, utility bills or mini vacations to visit our extended family in the other country
I would probably just buy two separate houses one for myself, other for my parents so ..$100,000 each. ( here in michigan you can really find a nice house for $60k lol ) then...I would also buy a nice efficient car for my self and my parents so ..$40,000 there ..and the rest will go into savings..for family emergencies or such...so yeah I would probably be set for life.
I do plan on working though even if i had such money, for groceries, utility bills or mini vacations to visit our extended family in the other country
TelluricTokoro
Banned
I could stretch a mil for as long as I had to.
Whole life. Once you've lived your childhood sometimes being able to have dinner only 3 days a week you appreciate everything you can get, a huge mansion won't do me, a small appartment will, I wonder often how some of the richest people in the world need all the money they have in spite of their greed. No human alive in this day, in all honesty, should be able to live less than at least 50 years on a million.
I think a lot of people need to be hit with a humble rock to the head and realise how incessantly idiotic they are to say anything less than that. And I like buying stuff, don't get me wrong, but a small collection of highly prized items and enough money for me to eat well in a life time as well as to fund my hobby and career in illustration would be well maintained with a million.
I think a lot of people need to be hit with a humble rock to the head and realise how incessantly idiotic they are to say anything less than that. And I like buying stuff, don't get me wrong, but a small collection of highly prized items and enough money for me to eat well in a life time as well as to fund my hobby and career in illustration would be well maintained with a million.
I would do this too.
angular graphics
Banned
I'd invest it and make it last forever.
Also I would buy neogaf.
Also I would buy neogaf.
ExTrEmEdEaTh
Banned
10 years, if I quit my job and wanted to keep the same standard of living.
If I didn't quit my job, I would set aside 100k for my kids college. I would buy a Porsche 911 GT3, my wife a Porsche Macan Turbo. I would spend 300k on a house and then put the rest in savings.
If I didn't quit my job, I would set aside 100k for my kids college. I would buy a Porsche 911 GT3, my wife a Porsche Macan Turbo. I would spend 300k on a house and then put the rest in savings.
BurnOutBrighter
Banned
For the rest of my life, easily.
If you think you can't, you should take a look at how you handle money.
If you think you can't, you should take a look at how you handle money.
lets see my wife and I use around 40k a year in money... that is including paying around 1k a month in student loans... remove those and we are closer to 30k a year.
so removing them would leave around 900k... take oh 750k and throw it in something that would return on average around 4% per year over 5 years. which would result in the account being worth 912.4k aka more then I started with after paying off my loans... take 150k to live on for 5 years again reinvest the rest and yeah.
and 4% over 5 years really shouldn't be that hard to do... I have averaged 10% per year on my 401k right now *shrugs*
so to answer your question, I could likely easily retire and not have to work again assuming my cost of living doesn't drastically increase over the years or I don't have a period where I lose a lot of money (though going for only 4% return should put me in a safer market likely resulting in me never losing big)
so removing them would leave around 900k... take oh 750k and throw it in something that would return on average around 4% per year over 5 years. which would result in the account being worth 912.4k aka more then I started with after paying off my loans... take 150k to live on for 5 years again reinvest the rest and yeah.
and 4% over 5 years really shouldn't be that hard to do... I have averaged 10% per year on my 401k right now *shrugs*
so to answer your question, I could likely easily retire and not have to work again assuming my cost of living doesn't drastically increase over the years or I don't have a period where I lose a lot of money (though going for only 4% return should put me in a safer market likely resulting in me never losing big)
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