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re: Someone drops $1.5 million in your lap.....
Posted on 10/13/19 at 11:56 am to DeafJam73
Posted on 10/13/19 at 11:56 am to DeafJam73
$1.5 million sounds like a lot of money, but that probably won't last the average person till death.
5% interest is $75K/year before tax. Now consider that your current lifestyle is based on $150K/year income. You have a shortfall of what you are used too, without touching the principal. What job/field/career would you pursue to make up the difference?
5% interest is $75K/year before tax. Now consider that your current lifestyle is based on $150K/year income. You have a shortfall of what you are used too, without touching the principal. What job/field/career would you pursue to make up the difference?
2
Posted on 10/13/19 at 11:58 am to greygoose
That 1.5 mil combined with my existing savings is more than enough to get me to retirement age, and combined with my existing retirement accounts is also enough to get me through my time above the grass.
Posted on 10/13/19 at 12:00 pm to Tempratt
quote:
After taxes it's $750k.
Pay off mortgage.
Put the balance in banks.
$1.5 Million POST TAX.
5% is pretty conservative, and a mortgage rate is less than that. Why would you use the principal to pay off a loan that has a lower rate that what you would earn in a mutual fund?
Posted on 10/13/19 at 12:01 pm to greygoose
quote:
$1.5 million sounds like a lot of money, but that probably won't last the average person till death.
5% interest is $75K/year before tax. Now consider that your current lifestyle is based on $150K/year income. You have a shortfall of what you are used too, without touching the principal. What job/field/career would you pursue to make up the difference?
I don’t need it to last the rest of my life. Just long enough for me to get a job I can see myself turning into a career. I’m fricking poor. $1.5 million does a lot for me right now.
Posted on 10/13/19 at 12:04 pm to greygoose
BMW M5
Own beach condo
invest the rest
Own beach condo
invest the rest
Posted on 10/13/19 at 12:05 pm to greygoose
I'd quit tomorrow
Posted on 10/13/19 at 12:10 pm to greygoose
(no message)
This post was edited on 11/8/20 at 5:23 am
Posted on 10/13/19 at 12:14 pm to greygoose
Thanks but no thanks
Posted on 10/13/19 at 12:17 pm to greygoose
Retire.
Posted on 10/13/19 at 12:19 pm to greygoose
quote:
. What do you do?
Payoff my debts and mortgage, invest the remaining, and work at Starbucks (for the benefits).
Posted on 10/13/19 at 12:20 pm to greygoose
why is this even question. working sucks arse dude
Posted on 10/13/19 at 12:20 pm to greygoose
quote:
With the stipulation that you have to quit your job, and are not able to work in the same field again, forever. What do you do?
nope. I like my job and I can theoretically make more than that in a decade
Posted on 10/13/19 at 12:22 pm to greygoose
Oh I don't take the money because there are no other jobs out there. 
Posted on 10/13/19 at 12:27 pm to htran90
quote:
nope. I like my job and I can theoretically make more than that in a decade
See, that's my dilemma. I don't necessarily hate my job, but I don't look forward to it either.
Posted on 10/13/19 at 12:28 pm to lsuwontonwrap
quote:
Oh I don't take the money because there are no other jobs out there.
Read my OP. You would be able to work in the field that you know.
Posted on 10/13/19 at 12:29 pm to Jim Rockford
quote:
Drop my wal mart greeter vest off in the managers office and never look back
Id come in right behind you and put it on. 1.5m in the bank so I figure I'll greet and check receipts a few hours a week
Posted on 10/13/19 at 12:31 pm to greygoose
Lol I’d quit for free most days. Absolutely.
Posted on 10/13/19 at 12:37 pm to greygoose
why would I take a pay cut?
Posted on 10/13/19 at 12:40 pm to greygoose
Take the Money and try to get on at Badda Bing Bait shop. Wake up, sell a few minnows then go fishing.
Posted on 10/13/19 at 12:40 pm to greygoose
Id do it for 500k......
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