How much is a million dollars?

[RWNJ]

It's probably not as much as you think. If you set yourself a budget of 30,000 a year, it would only last you 33 years. So, it's not even enough to live on for the rest of your life, unless you want to live in borderline poverty.

 

[TNHarley]

1,000,000 one dollar bills

 

[JoeMoma]

When was the war of 1812?

 

[JoeMoma]

It's probably not as much as you think. If you set yourself a budget of 30,000 a year, it would only last you 33 years. So, it's not even enough to live on for the rest of your life, unless you want to live in borderline poverty.

Or perhaps find a relatively safe investment with a decent rate of return.

 

[TNHarley]

 

[emilynghiem]

It's probably not as much as you think. If you set yourself a budget of 30,000 a year, it would only last you 33 years. So, it's not even enough to live on for the rest of your life, unless you want to live in borderline poverty.

Dear RWNJ that's why financially independent people I know
use their first 5K to 20K to invest in buying rental property,
then use the equity to acquire financing using OTHER PEOPLE'S money.

They keep their cash in the bank and use that to negotiate better loans.
Then use that credit to buy more assets to make more money they live on
not their savings.
This is like bypassing creditor rates: you buy lower for a discount using that money, then refinance at a low rate and pay yourself back.
By using one debt to pay off another, the difference between the debts
doesnt count as income revenue thats taxable.
So the millionaires use money to make more money.

 

[Mac1958]

Actually, using the 4% rule, $40,000 a year should last forever, and the original million should remain intact as a life insurance policy.

That's accomplished by investing for (what's anticipated to be) a 5.00% to 5.50% long term return, and then starting with a 4.00% withdrawal rate and +/- 3.00% annual cost of living increases annually.

The withdrawals are then theoretically replenished by the growth.
.

 

[TNHarley]

yearly interest on 1M is 40K a year. With becoming debt free in 3 years, i could live off that. The whole family.

 

[RWNJ]

It's probably not as much as you think. If you set yourself a budget of 30,000 a year, it would only last you 33 years. So, it's not even enough to live on for the rest of your life, unless you want to live in borderline poverty.

Or perhaps find a relatively safe investment with a decent rate of return.

Easier said than done.

Can You Live Off the Interest of a $1 Million Dollar Investment? | MintLife Blog

 

[TNHarley]

yearly interest on 1M is 40K a year. With becoming debt free in 3 years, i could live off that. The whole family.

Sounds like i need a million bucks. Anyone wanna help a brutha out?

 

[JOSweetHeart]

How much would it be after taxes?

God bless you always!!!

Holly

P.S. I remember the season four episode of Reba's show when Van was given $100,000 for his football settlement and Reba told him that after taxes it would only be about $50,000.

 

[justinacolmena]

Uhh, better revise your numbers. The Fed and the Department of Labor mob insist that inflation is low, but let me tell you, $30,000 may let you survive for one year now, but 33 years from now, at least knock a zero off that to estimate the value of that amount of income in 2018 dollars.

True, you may earn interest or dividends or capital gains. But you will lose some if not all of it, too, one day, for one reason or another. Gotta be a way to earn it back if you lose it all. There is no 3% drawdown on $1,000,000 that will last you for 33 years.

We live in a sick society that refuses to crack down on organized white-collar crime -- mobsters, banksters, and brokesters -- the whole lot of them. As long as organized white-collar crime and corruption are allowed to continue with a wink and a nod, there is no return or reward to be expected on a long-term investment, and indeed no safe place to store that much money for that long. There have been rumors since 2008 of a 30-year Second Great Depression, and no true signs of recovery, only lies, lies, and more lies from political and economic pundits.

Like the 1930s, except the bread lines are even longer this time around.

 

[RWNJ]

Uhh, better revise your numbers. The Fed and the Department of Labor mob insist that inflation is low, but let me tell you, $30,000 may let you survive for one year now, but 33 years from now, at least knock a zero off that to estimate the value of that amount of income in 2018 dollars.

True, you may earn interest or dividends or capital gains. But you will lose some if not all of it, too, one day, for one reason or another. Gotta be a way to earn it back if you lose it all. There is no 3% drawdown on $1,000,000 that will last you for 33 years.

We live in a sick society that refuses to crack down on organized white-collar crime -- mobsters, banksters, and brokesters -- the whole lot of them. As long as organized white-collar crime and corruption are allowed to continue with a wink and a nod, there is no return or reward to be expected on a long-term investment, and indeed no safe place to store that much money for that long. There have been rumors since 2008 of a 30-year Second Great Depression, and no true signs of recovery, only lies, lies, and more lies from political and economic pundits.

Like the 1930s, except the bread lines are even longer this time around.

I believe we have something like 270 trillion in unfunded liabilities. That means that every person who depends on a government check is screwed. So are the rest of us. Remember when the government confiscated all privately owned gold? It's going to happen again. Count on it. Also, When America's economy tanks, we'll take the rest of the world with us. It will make the great depression look like the good old days. I believe all of this is intentional. It will allow the antichrist to make the switch to a new economy. One that does not rely on money. One where everyone must have the mark of the beast in order to buy or sell.

 

[del]

what famous street is a 5th avenue candy bar named after?

 

[Rocko]

A million dollars ain’t shit to someone who has it

 

[Valerie]

a thousand thousand

just isn't what it used to be...........

 

[my2¢]

Disregarding inflation, $1 million is a tenth of the value that my present congressman won in the Publishers Clearing House Sweepstakes.

​

 

[Moonglow]

It's probably not as much as you think. If you set yourself a budget of 30,000 a year, it would only last you 33 years. So, it's not even enough to live on for the rest of your life, unless you want to live in borderline poverty.

I plan on living in prison.