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Another one of those button questions.

View Poll Results: What is your price?

Voters
20. You may not vote on this poll
  • 0-5,000$

    0 0%
  • 5,000-25,000$

    0 0%
  • 25,000-100,000$

    4 20.00%
  • 100,000-250,000$

    3 15.00%
  • 250,000-1,000,000$

    3 15.00%
  • >1,000,000

    10 50.00%
Page 3 of 3 FirstFirst 123
Results 151 to 160 of 160
  1. #151
    Quote Originally Posted by Renton View Post
    I don't see how this could be definitively shown. It's probably more of a diminishing returns formula then a rising line that just levels off instantly at a specific number. And anyway a million dollars is not enough to give your family a decent standard of living for the next 50 years, so I think even if you apply your logic to this, the max efficacy would be pretty far in excess of 1 million (the top bracket given in the poll).
    I wasn't saying it had been definitely shown. I was saying that it had been shown in the sense everything along those lines is shown in that it has quite a bit of evidence to support the hypothesis. It's also not about long term living. Who the fuck worries about 50 years into the future. Most people aren't looking much further than a couple of years.

    I could live off a million for the rest of my life easy. I could buy a house, put the rest in a bank and live off the interest. Wouldn't even be hard to do. So I'm not sure where you got the idea it wouldn't last you 50 years.

    Quote Originally Posted by ImSavy View Post
    I'd do it for £300k. That's enough to sort me out for life if I'm sensible and probably my parents too who realistically are going to be the only ones who go through a real negative experience due to my death.
    Came to around this number again having forgot what I said in the first place. Having a house paid for, decent car and like at least 20k in the bank would make life so easy. Get a job you enjoy doing and just chill and enjoy life.
    Last edited by Savy; 01-04-2014 at 07:57 AM.
  2. #152
    You think you can buy a house and live off the interest from the remained of a million dollars until your croak? Can you teach me your magical maths, or introduce me to your overly generous banker?
  3. #153
    Quote Originally Posted by boost View Post
    You think you can buy a house and live off the interest from the remained of a million dollars until your croak? Can you teach me your magical maths, or introduce me to your overly generous banker?
    What would you say was a decent amount of interest on a savings account?

    300k on a house
    700k in the bank

    700k/(12*50) is over £1000 a month for 50 years.

    I don't even begin to think that'd be hard to live off. If we had it in a bank with the interest on it too it'd probably add a few quid to it too.

    I could also spend much less than 300k on a house in all honesty. Although when I sell the house when I get to a ripe old age and move to somewhere smaller it'll be a nice cash injection into my pocket.
    Last edited by Savy; 01-04-2014 at 04:51 PM.
  4. #154
    I'm not sure how we suddenly began talking in monopoly money instead of good old USD, but even still, you're neglecting inflation, house upkeep, property tax, etc.

    I think you could make such a plan work-- but you'd have to be pretty frugal, and buying a house is almost certainly the wrong move. You need liquidity and flexibility if your plan is to work. You can't let yourself get stuck somewhere.
  5. #155
    this would make a great reality tv show lol

    I'd press that button lots if a beer came out every time;P
    talk about drinking yourself to death
  6. #156
    Aw man I could live off $1m for life pretty easy, what the fuck are you people smoking? Caviar?

    $1m is around £600k. I buy three houses - one nice place in the country for £200k, where I'm gonna live, and then two town properties at around £120k to rent out. I could get £600 a month from each of those properties at current prices, and I have no rent/mortgage payments to make myself. Factor in that both of my properties should increase in value at a rate above inflation, and I think I'm pretty sorted. I still have £160k, plus £1200 a month income, plus two houses I can sell if things get tight.
    Quote Originally Posted by wufwugy View Post
    ongies gonna ong
  7. #157
    bikes's Avatar
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    wtf are you people smoking living the rest of your life off a milli?

    ?wut
  8. #158
    Quote Originally Posted by OngBonga View Post
    Aw man I could live off $1m for life pretty easy, what the fuck are you people smoking? Caviar?

    $1m is around £600k. I buy three houses - one nice place in the country for £200k, where I'm gonna live, and then two town properties at around £120k to rent out. I could get £600 a month from each of those properties at current prices, and I have no rent/mortgage payments to make myself. Factor in that both of my properties should increase in value at a rate above inflation, and I think I'm pretty sorted. I still have £160k, plus £1200 a month income, plus two houses I can sell if things get tight.

    I'm not saying it can't be done-- but I am saying that you've just demonstrated that you wouldn't be the one to do it.
  9. #159
    Renton's Avatar
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    you could certainly live for 50 years in many places in the world. Just not in any big city or in europe or australia. 1 mil is enough to live in latin america, asia, some rural parts of the united states, I think.
  10. #160
    Quote Originally Posted by Renton View Post
    you could certainly live for 50 years in many places in the world. Just not in any big city or in europe or australia. 1 mil is enough to live in latin america, asia, some rural parts of the united states, I think.

    Oh, yeah, definitely; and you could live a great life, far from that of a pauper. However, it wouldn't be the life most people envision when they think "millionaire."

    With that being said, it's kinda besides the point if drastic life changes are necessitated. With adequate knowledge, and barring any catastrophic injury, a person could live a long life with zero or near zero income. But then maybe that is the point of this sort of hypothetical-- to inspire you to think how far along the Kaczynski-Onassis spectrum you'd need to be to never have to work again.

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