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"If the American people had ever known the truth about what we (the BCE) have done to this nation, we would be chased down in the streets and lynched." - Poppy Bush, 1992
Originally posted by thome My personal OP is if I had -1mil- in the bank getting a simple 5% in
the market, i would consider myself Rich.
Not anymore, it depends on how old you are do have any other income blah blah blah. Figure the gov. is going to take some of that 5%, you've got to buy gas, food, clothes, what about travel. A mill isn't what is used to be. If you're 50 or younger don't even think about trying to retire on it. 10 million would be pretty well off 20 would be rich.
Originally posted by scamper Not anymore, it depends on how old you are do have any other income blah blah blah. Figure the gov. is going to take some of that 5%, you've got to buy gas, food, clothes, what about travel. A mill isn't what is used to be. If you're 50 or younger don't even think about trying to retire on it. 10 million would be pretty well off 20 would be rich.
As if anyone should take financial advice from you.
My personal OP is if I had -1mil- in the bank getting a simple 5% in
the market, i would consider myself Rich. [/B]
My Bar Tab is about 6 to 8,000 anually if i don't figure the cash i spend daily just my bar tab the monthly payout i give and tips well
lets say 10,000 to 11,000 per year is high but when you figure ciggs and the occasional .50 pool game at the bar....ok cool that's it.
1 mil at 5% is about 50,000 a year with all my other debts +
booze i guess i could still find a way to live on 50,000.
Originally posted by matt19 I think everyone has their own definition of what "rich" is. Someone who is happy making 25k a year is "rich". So long as they are happy.
:D
So, what to do about the poor man who makes 25k?
If you have "fuck you"money, you're rich.
If you have enough to take a nice vacation, buy a boat, drive an SUV and still complain, you're just a bitch.
If you work constantly, can't keep up with mortgage payments, have no cable or phone, but have the talent to play in a band for extra scratch....
Originally posted by thome 1 mil at 5% is about 50,000 a year with all my other debts +
booze i guess i could still find a way to live on 50,000.
I'm not trying to discourage anyone here, it can be done, but your lifestyle won't be a rich one at all. Figure if your 50 how many more years are you going to live. If you don't have any other income you will need to buy your own health insurance and as you get older it's going to cost a lot more. What about the way gas prices are going up, are you going to sit at home all day. You're betting 5% against inflation for 30 years if you live to be 80. It's not advice it's just a fact. Too many people fail to plan for the long run. If you make it to the grave at an old age without ever having to worry about money you've done something most people will never do.
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