July 22, 20214 yr 1 minute ago, Paul852 said: Would you believe someone here called AOC wealthy? Yeah, she’s not rich like Biden.
July 22, 20214 yr Just now, Paul852 said: "Until she starts earning her salary" Damn, you’re right. She IS wealthy now.
July 22, 20214 yr 8 minutes ago, Paul852 said: Would you believe someone here called AOC wealthy? I mean, I could retire now if I had 2 mil in the bank......
July 22, 20214 yr 2 minutes ago, BFit said: I mean, I could retire now if I had 2 mil in the bank...... No you couldn't.
July 22, 20214 yr 3 minutes ago, Paul852 said: No you couldn't. Completely depends on your standard of living. My home is paid for and I have no debt I'll bet I could live off of 2 MM for the next 35 years easily.
July 22, 20214 yr Just now, Dave Moss said: Bfit lives off the grid. Just now, Eaglesfandan said: Completely depends on your standard of living. My home is paid for and I have no debt I'll bet I could live off of 2 MM for the next 35 years easily. Assuming he's in his 30s the health insurance alone would kill him. Then stretching it over 40 years is tough with inflation unless he's investing a portion with good returns. A lot of people think they'd be set. A lot of people also don't have the willpower not to spend a good chunk on homes and cars.
July 22, 20214 yr 2 hours ago, Paul852 said: Because there's way too many poor people bringing those numbers down. I would never call myself rich and I blow past all of those numbers and I bet a lot of the posters here do too. Everyone here is wealthy, has a high level important job and posts on a football discussion board all day.
July 22, 20214 yr 1 minute ago, Paul852 said: Assuming he's in his 30s the health insurance alone would kill him. Then stretching it over 40 years is tough with inflation unless he's investing a portion with good returns. A lot of people think they'd be set. A lot of people also don't have the willpower not to spend a good chunk on homes and cars. True. I tried explaining that one million dollars isn't really a lot of money to my dad and he looked at me like I was crazy. I guess at his age (78) it could be.
July 22, 20214 yr 2 minutes ago, NOTW said: Everyone here is wealthy, has a high level important job and posts on a football discussion board all day. I would never call myself wealthy. Just good with my money.
July 22, 20214 yr 21 minutes ago, Paul852 said: Assuming he's in his 30s the health insurance alone would kill him. Then stretching it over 40 years is tough with inflation unless he's investing a portion with good returns. A lot of people think they'd be set. A lot of people also don't have the willpower not to spend a good chunk on homes and cars. I agree. But… Let’s say you do have $2 million though. You spend $1 million on rental properties and live off just the rent money you’re taking in. You’ve paid cash for the property so there’s no mortgage. I think you could do it that way.
July 22, 20214 yr 1 minute ago, Dave Moss said: I agree. But… Let’s say you have $2 million though. You spend $1 million on rental properties and live off just the rent money you’re taking in. You’ve paid cash for the property so there’s no mortgage. I think you could do it that way. I think so too. But is "managing rental properties" really retired though? Unless you hire someone to do that for you. Sounds like a new business venture (which I'm not against)
July 22, 20214 yr 7 minutes ago, Paul852 said: I think so too. But is "managing rental properties" really retired though? Unless you hire someone to do that for you. Sounds like a new business venture (which I'm not against) I see your point. My Dad has been retired for 20 years though and most days he’s checking his stocks - sometimes making trades. He’s 77.
July 22, 20214 yr 4 minutes ago, Dave Moss said: I see your point. My Dad has been retired for 20 years though and most days he’s checking his stocks - sometimes making trades. He’s 77. I could see myself doing that too You have to fill the time somehow.
July 23, 20214 yr 48 minutes ago, Paul852 said: Assuming he's in his 30s the health insurance alone would kill him. Then stretching it over 40 years is tough with inflation unless he's investing a portion with good returns. A lot of people think they'd be set. A lot of people also don't have the willpower not to spend a good chunk on homes and cars. What are you figuring a year for health insurance? I figure a high price of 12k a year. Doubt that's gunna break me.
July 23, 20214 yr 6 minutes ago, BFit said: What are you figuring a year for health insurance? I figure a high price of 12k a year. Doubt that's gunna break me. It will get more expensive as you get older and that doesn't include the out of pocket expenses. Hey man, I have faith in you. It's just that stretching that money over decades is tougher than people think. I'm guessing you don't plan on starting a family because that's a non-starter
July 23, 20214 yr This sounds like a social experiment that needs to be tried. Let’s start a gofundme for Bfit
July 23, 20214 yr 11 minutes ago, Dave Moss said: This sounds like a social experiment that needs to be tried. Let’s start a gofundme for Bfit Let's just have @vikas83 fund it.
July 23, 20214 yr 1 hour ago, Paul852 said: Let's just have @vikas83 fund it. Pass. I prefer that 2 million stay in the hooker and blow budget
July 23, 20214 yr 2 hours ago, Dave Moss said: I agree. But… Let’s say you do have $2 million though. You spend $1 million on rental properties and live off just the rent money you’re taking in. You’ve paid cash for the property so there’s no mortgage. I think you could do it that way. Lolwut? You’d be lucky to yield 6%, or 60k per year. Call it 45k after property taxes. And then maintenance. Maybe you pocket 35k a year after maintenance and income taxes. If you can live on 35k per year…your life sucks.
July 23, 20214 yr 25 minutes ago, vikas83 said: Lolwut? You’d be lucky to yield 6%, or 60k per year. Call it 45k after property taxes. And then maintenance. Maybe you pocket 35k a year after maintenance and income taxes. If you can live on 35k per year…your life sucks. Don't forget they have to buy health insurance! Better call it 20k a year.
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