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Replies: 36
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Oculus Spirit [80986]
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If you were a single person
Jul 15, 2019, 11:17 AM
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How long could you make it on a million dollars?
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Hall of Famer [20569]
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2 days
Jul 15, 2019, 11:23 AM
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Because of Amazon Prime days.
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Oculus Spirit [80986]
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Prime doesn't work for me.
Jul 15, 2019, 11:24 AM
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I never get anything in 2 days. I ordered vacuum cleaner bags last week. $ days to get here...from Florida.
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All-TigerNet [13764]
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Did you just try to capitalize the number 4?***
Jul 15, 2019, 2:56 PM
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Oculus Spirit [80986]
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Yes.
Jul 15, 2019, 3:45 PM
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ITS THAT IMPORTANT
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All-In [36448]
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well if my math is correct
Jul 15, 2019, 11:25 AM
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10 grand a month on hookers and blow plus 10k a month for lavish lifestyle. That’s 20 grand a month so I would make it about 4 plus years... if I didn’t die from all the hookers and blow sooner.
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All-In [47661]
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As long as I wanted/needed to
Jul 15, 2019, 11:27 AM
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assuming no major catastrophes, such as a major illness or the like
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Oculus Spirit [80986]
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To be more clear, this example also means that
Jul 15, 2019, 11:32 AM
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you'd have no house, no retirement and have to find somewhere to live.
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All-In [47661]
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Yes, absolutely
Jul 15, 2019, 11:34 AM
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Would buy a UDP condo like I did just this past weekend, but pay cash and never have a house payment.
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Oculus Spirit [78823]
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1000 Dead and Co shows
Jul 15, 2019, 11:32 AM
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2 tickets to each show, one for a fran
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Heisman Winner [105444]
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Hey friend, you forgot to send me my tickets.***
Jul 16, 2019, 7:47 AM
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Oculus Spirit [97671]
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Until I'm dead.
Jul 15, 2019, 11:34 AM
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Heck, if I was single I could probably make another million dollars over time.
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Oculus Spirit [80986]
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Thats not really the point.
Jul 15, 2019, 11:55 AM
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I'm just saying having a million in cash, and being done with work forever.
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Oculus Spirit [97671]
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No way. I'm not sure if there is an amount of money
Jul 15, 2019, 12:23 PM
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where I'd be done with work forever. But if forced not to work, I could easily get 15-20 years on that if I tried, and was single, and not a father of three. Again pissing away all my obligations....going to live in a cabin in the woods, sure.
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Oculus Spirit [75676]
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Am I in Vegas or just sitting at my house living
Jul 15, 2019, 11:34 AM
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my typical life?
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Oculus Spirit [80986]
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You are on a street corner, anywhere in the US
Jul 15, 2019, 11:40 AM
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Gotta do something from there
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Oculus Spirit [75676]
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A pretty long time.
Jul 15, 2019, 11:50 AM
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Take away $159k to clear the mortgage. Lets say another $45k and get a truck I want. Even with a lavish vacation I've still got a ton. A few investments and I am all set.
Now, lets talk 3-5 million before I go buying a bunch of property in Montana.
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All-In [31857]
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forever, if needed....
Jul 15, 2019, 11:36 AM
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1MM invested should generate ~$80k/year on average.
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Lot o points [155649]
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an average 8% annual return?
Jul 15, 2019, 11:40 AM
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I get where that number comes from, but it still makes me nervous to use as an estimator when doing financial planning. Maybe I'm too conservative but I use 5-6% when planning for retirement.
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Oculus Spirit [80986]
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Yeah i'm not seeing near that***
Jul 15, 2019, 11:42 AM
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Lot o points [155649]
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I'm up 12% so far in 2019...wish that would stay static.***
Jul 15, 2019, 11:46 AM
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Oculus Spirit [80986]
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I couldn't see YTD
Jul 15, 2019, 11:59 AM
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but one year I'm up 2%
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Lot o points [155649]
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Financial advisor told you to put it all in bonds huh?***
Jul 15, 2019, 12:01 PM
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Oculus Spirit [80986]
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No..I'm about an 1/8 in bonds
Jul 15, 2019, 12:02 PM
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The rest is in 2-3 different target date mutual funds
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Lot o points [155649]
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man that sucks. One of my best performers is a
Jul 15, 2019, 12:03 PM
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target fund. Dumped all the others I was in but this one just keeps performing too well to get out.
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Oculus Spirit [80986]
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I have a time set to discuss with an advisor this week
Jul 15, 2019, 12:14 PM
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But it is what it is:
They label as "Aggressive Growth portfolio".
Domestic Stock 58%
Foreign Stock 26%
Bonds 9%
Short Term 6%
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Lot o points [155649]
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Gottdang bro....you're close to 50, right?
Jul 15, 2019, 1:27 PM
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And approx 85% equities?
That takes
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Oculus Spirit [80986]
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Doesn;t seem to be working though, huh?
Jul 15, 2019, 3:44 PM
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I'm not getting 12% return, thats for sure
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Legend [17449]
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12%?!?!
Jul 15, 2019, 12:01 PM
[ in reply to I'm up 12% so far in 2019...wish that would stay static.*** ] |
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You could be up over 20%. You need to diversify your bonds, n-word. The S&P is up over 20% as of now for the year. Even an S&P index fund would be at around 20% for the year. Good mutual funds should AVERAGE probably about 10 - 12% per year. As long as you hold them for probably 5 years or more.
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Lot o points [155649]
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bruh, if all goes well, I'm 14-15 years from retirement.
Jul 15, 2019, 12:02 PM
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I have about a 65-35 equity/bond split at this point for safety's sake.
Might be missing out on some upside, but I'll be minimizing the eventual downside.
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Legend [17449]
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I’m on about the same time frame for retirement.
Jul 15, 2019, 12:10 PM
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18 years or so. Probably going till 59.5 so I don’t have any penalties.
What type of eventual down side are you thinking?
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Lot o points [155649]
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My guess?
Jul 15, 2019, 1:12 PM
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Something worse than 2002's -22.1, but not as bad as 2008's -37.
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Legend [17449]
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The worst since 1950 took about 8 years to recover.
Jul 15, 2019, 9:58 PM
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The 2008 deal took about 6. Most of the big drops recover in a year or so.
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Lot o points [155649]
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a 6-8 year recovery window is a scary thing when you’re
Jul 15, 2019, 11:02 PM
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Talking about a 15 year retirement window
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All-In [31857]
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I do too...was just making a point...
Jul 15, 2019, 11:47 AM
[ in reply to an average 8% annual return? ] |
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but to look at the numbers....there aren't many 40 year periods that the market hasn't been in the 8% range including dividends.
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Heisman Winner [105444]
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Single with no kids? I could live off +/- $2500/month
Jul 16, 2019, 7:50 AM
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and a $200k house. My calculations say 26.6 years but, TBH, I could live on alot less than $2500/month.
No work would be boring though, might spend alot on some new hobby.
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Hall of Famer [23994]
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Re: If you were a single person
Jul 16, 2019, 8:01 AM
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I'd put that million bucks in a high yield savings account. At 1M it will grow somewhere around $1500 per month. I'll rent an apartment downtown charleston for around $2k per month. Spend about $140 eating at halls chop house every night.
I think I can make it to the end of my life.
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Replies: 36
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50
