this is such a biased question

[fightingwarrior]

say you have 1 million dollars and thats it to your name and you are 25 years old could you make it last for the rest of your life.

[MC PICKS]

Easily.

[fightingwarrior]

seems to me at 50,000 a year thats 20 years so by the time your 45 you might have some memorys and stuff but you will have no s.s no retirement nothing.if you can manage to spend less than 50,000 a year than even better as your time will go up.but even with 1 mill seems to me like you got to work.once you get married and once kids start dropping out money will be decreasing at a faster rate.hopefully your wife works and makes money because if she doesnt your even in a bigger hole and if your gambling a bad run might wipe you out by 30.you need about 10 mill these days from what im seeing to not worry about a damm thing.

[Fishhead]

If one couldn't, buy some sleeping pills and ingest the entire bottle.

[fightingwarrior]

seen that already with the shrink but thanks but no thanks fishhead.

[fightingwarrior]

im telling you if you have 1 mill and no job it could easily get spent depending on what you do and where you live.las vegas for example bad city to live since you got no job.miami newyork l.a all these high end places 1 mill isnt that much.now a days a home will cost you atleast 400k in these spots so right there your down to 600k


now taxes on house each year babies private school for your kids health insurnace since no job cars for wife and you i personally think you would be broke by 50 years old

[shari91]

say you have 1 million dollars and thats it to your name and you are 25 years old could you make it last for the rest of your life.

Very, very easily. Even with kids. Invest and live off the interest, within your means. Compound interest on the principal is a powerful thing.

[fightingwarrior]

i mean you would own a house and thats it but you will be dead broke in 20 years esp with the way the world is going.20 years from now min wage will be atleast 11.00 in usa

[fightingwarrior]

shari on 100k how much interest would you get per year.would you make 10 percent doubt it.lets say 2 percent thats 2k a year which isnt anything except taxes on the house.you have to remember your not getting taxes at the end of the year or any of that.the money will go i promise you unless you make good investments.

[Squirrel]

Screw worrying about the future - the whole lot would be going on a Mets/Marlins Parley tonight to try and double it up plus more. Live by the sword, die by the sword

[fightingwarrior]

i mean you can dumb 100k in gold and hopefully in 20 years it will be worth double.you can buy a house for 200k instead of 400k so you got 700k 2 cheap cars 50k 25 each.so you got 650k to work with.how much of it will you gamble with in sports and stocks and all of that.maybe you guys are write 1 mill is livable.

[fightingwarrior]

so toss the mill on a 2 teamer and if you lose your homeless 1 day later.i would have to pass on that one.maybe put 100.00 on that 2 teamer

[Marginalis]

Screw worrying about the future - the whole lot would be going on a Mets/Marlins Parley tonight to try and double it up plus more. Live by the sword, die by the sword

[shari91]

shari on 100k how much interest would you get per year.would you make 10 percent doubt it.lets say 2 percent thats 2k a year which isnt anything except taxes on the house.you have to remember your not getting taxes at the end of the year or any of that.the money will go i promise you unless you make good investments.

2% would equal $20,000 per year. Here at least (Australia) you can get at a bare minimum 5% and higher on short term deposits, which would bring you to a minimum of $50k per year. Invest a chunk of it in lower-risk mutual funds and you'll increase your return even more.

It's very possible to do this and live comfortably. Even if you spent $500k on a house, you'd still have $500k left with no mortgage and could generate income off of this. It's much cheaper to live than a lot of people think, especially when you don't have to pay for the roof over your head. It's just that most of us want to 'live the life'.

[fightingwarrior]

yeah your talking 1 mill you cant put all your money in that though i said 100k which 2 percent would be 2k which isnt that much per year.if you did put the entire 1 mill you would be broke.the key is to make 1 mill last forever.with out working or just gambling.

[Squirrel]

so toss the mill on a 2 teamer and if you lose your homeless 1 day later.i would have to pass on that one.maybe put 100.00 on that 2 teamer

Been there before allbeit for non-gambling related stuff. Plus its easy for me to say thats what i'd do, I can't imagine what would be going through my head staking $1m on anything.

[JohnGalt2341]

Me? Yes. Everyone else I have ever met in my entire life, NO.

[THE PROFIT]

Easily. Id take $100,000 for this football season & live on that for quiet a while