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JustNik · 51-55, F
If it was just a million or two yes, but if I won a big jackpot, I wouldn’t work a paying job. I think it would be neat to look into expanding on community gardens and accessibility, elder programs, and dive into housing, which seems to be an issue darn near everywhere. I don’t think I’d be bored.
Diotrephes · 70-79, M
@JustNik [quote]If it was just a million or two yes, but if I won a big jackpot, I wouldn’t work a paying job. I think it would be neat to look into expanding on community gardens and accessibility, elder programs, and dive into housing, which seems to be an issue darn near everywhere. I don’t think I’d be bored.
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Most poor people don't have a clue when it comes to millions of dollars. First of all, if you are married half of it belongs to your spouse, especially in community property States. Now, suppose you had just $5,000,000. If you just threw it all in a barrel and did no investing whatsoever, you could take out $20,833.33 a month for the next 240 months (20 years). It is highly doubtful that you have that much money every month right now so your standard of living would greatly improve.
If you had $20,000,000 and did the same thing you could have a monthly budget of $50,000 a month for 400 months (33 years 4 months).
If you did any kind of sensible investing you could live comfortably (compared to your current standard of living) off of the interest income without dipping into the principal.
The most important thing is to create a budget and not squander money on knickknacks every hour.
[/quote]
Most poor people don't have a clue when it comes to millions of dollars. First of all, if you are married half of it belongs to your spouse, especially in community property States. Now, suppose you had just $5,000,000. If you just threw it all in a barrel and did no investing whatsoever, you could take out $20,833.33 a month for the next 240 months (20 years). It is highly doubtful that you have that much money every month right now so your standard of living would greatly improve.
If you had $20,000,000 and did the same thing you could have a monthly budget of $50,000 a month for 400 months (33 years 4 months).
If you did any kind of sensible investing you could live comfortably (compared to your current standard of living) off of the interest income without dipping into the principal.
The most important thing is to create a budget and not squander money on knickknacks every hour.