It turns out 500k IS life changing money
>NOOOOOOOOO THAT IS ENOUGH STOP BEING GREEDY AND LEAVE SOME GAINS FOR MEEEEHow about no boomer LOL
>>60962332Even at 8% interest, that would be 40k per year. This boomer is living in the 90s.
>>60962344i lived off 20k a year when crypto was down to 3k
You'd have to be as old as Kevin O'Leary for it to last you for life.
>>60962332This is a terrible idea. Given inflation really is about 8% per year. It to be correct about it. Paper currency is debasing about 8% per year. Your return after taxes is about 12k here in Ireland. Now consider you’ve lost about 40k in buying power on your 500k. Terrible deal. Letting your wealth be stolen. Drop that shit in physical gold and gold miners. And the 500k will grow and not only that. Dividends will likely be higher than the 12k high interest bank account which will probably make you lock your money in. Banks are robbing you blind at the moment.
>>60962377Wow, only been about fifteen years since I’ve seen this meme.
>>60962377GIRUGAMESH
>>60962332He never said you can live off $500k in a first world country. You can live off $100k if you don’t mind not having access to clean drinking water or decent healthcare
>>60962549>western europe is not first worldNot sure what kind of golden dildos you guys need, but 1200€ monthly is a nice life on the european countryside.
>>60962377Images you can hear
Maybe if you own a home and car, and don't plan on spending any more money on hobbies, eating out, luxury life styles, clothes, shoes, and pretty much everything to live normally. Kevin is a nigger...
5% interest rate of my high yield savings account...25k a yearHow could I afford my heckin netflix and doordash slop on that income?
>>60962636So you pay no tax on that? In Dubai maybe.
>>60962668Not if youre below the poverty line.A lot of fat people life below povertyline.
>>60962332Just put $500,000 into TSLY and double your money every year. EZ.
>>60962344that's more than enough in half of the world.
>>60962332500k ain’t enough? Lmao put it in xMoney + COTI and watch it explode, kek.
>>60962332I think I actually could but for a little bit more work I can live way better
>>60962344>40k a yearnigger you can fuck off to thailand and live like a king with that money
>>60962332>Just ignore inflation and get 10% risk-free annual returns forever bro
>>60962549You can absolutely retire with 500k in europe if you are not part of the consoomer cattle.
>>60962668Long term cap gains tax for less than like $45k income is 0% in America It's not enough to retire but it's definitely enough for coastfire or barista fire I saw Chipotle advertising $14 an hour the other day Get a part time job, 24 hours a week at a restaurant, fun times and hit on college girlsEven at the federal minimum wage of $7.25 an hour which is unrealistically pathetic and probably only for mexican slave labor, you'll earn $9,048 from that a year Plus a super uber conservative 3% withdrawal rate (after beating inflation) — which is less than even the 4% rule and will allow your portfolio to grow further —from $500k gets you $15,000Netting you a total $24,048 per yearWhich, coincidentally is about how much I spend in a year in Ohio with $1000 rent (could save on this too with a roommate or spouse with similar money) Basically you can see that even with unrealistically conservative estimates you can at least NEET with $500k in perpetuity, and protect and grow your stack at the same timeRealistically you could probably make more like $15k a year at a 24hr / week part time job these days after taxes, totalling up to more like $30k per year as barista fire, which is definitely livable I recall credit suisse doing a study one time showing that the average cagr for the Dutch, then English, then American stock markets is about 5.1% going back to 1600, so I'd say it's pretty safe to assume you'll be safe from ever spending down your capital if you're below that rate with some padding
*when not considering inflation**this is based on living in a third world shithole
>>60962332Who is offering 8% interest on 500k?You still need to pay taxes on your interest Inflation also makes it worthless over time
>>60963272>You can absolutely retire with 500k in europe if you are not part of the consoomer cattle.This. I spend $8,4k on HOA fees and maybe $8k on food and consumer stuff. Old people who don't vacation all the time are similar. In addition to my self-managed pension (currently $450k) I'll get guaranteed annual state pension which is pretty generous and far more than I need
>>60962332I’m planning to quit my job with $200k in crypto, $35k in cash, and $20k in passive income.It won’t be for life but it’ll be long enough to keep betting on moonshoots.
>>60962549Minus the lambos and big mcmansion, what the fuck else do you need anyway? Utilities/Rent/Food and maybe some for your hobby or the gym.
>>60962344I live on less than $40k per year right now and before I started my
>>60962344Have you checked SPY?
is this assuming you already own where you live?
>>60962344Fuck off you incredibly stupid normalfag. All you fucking need is food and utilities and a cheap place to live which you are allowed to move to because you're literally getting free money from interest.$10k a year is all you really need. Hell if you live with parents, you need at most $2k a year.
>>60965376They won't understand. It's a new generation. They think luxury is a necessity to fit in a little
>>609623448% a year is fucking horrible, seriously who makes that little. 8% a month is like decent.
>>60962332In a way he isn't even wrong. If you are 75 yo or so, it will be enough.
>>60962332I wouldn't do it without at least 1.5 million, and ideally 2 million.Divies on that would get you a comfortable income.
Wild gambling may be more fun but does it ever actually beat simple 401k sleepy invest?
>>60962332If all Im collecting is interest from the bank, then my minimum to not wage goes up absurdly, $10 million. If I trade with the money to earn income the minimum is like $500k but that's cutting it close. $1m is a more comfortable number.
>>60962344I live off like 8k a year
>>60962332i could live off of 12k a year so I just need 120k to make it
>>60962332depending on your living situation that is not enough or you can make due with even less. not in the bank though interest there doesn't even keep up with inflation
>>60965376To live in a area where you won't get stabbed to death, you need a little more than $10K/year.
>>60962332$500,000 at current interest rate banks are offering would give me $5000 a month so he's right provided I already own my own home
>>60965707Yeah.. most people cant just live in their mom's basement forever
>>6096234440k is about average US salary tho. It wont be a glamorous life but it is doable.
>>609623444k€ is enough even in western/northern european cities, especially if you have your own apartment. Just don’t have expensive hobbies or go to a club drinking every weekend.
>>60966051Oh nevermind its 63k, this shit would be poverty wages.Still not a bad supplemental income. This plus working and you could have a good ass life.
>>60965549Is there a single ”hype stock” in the past 5 years that didn’t just go up but instead really rugged? Just buy whatever is currently being hyped as the next big thing and see the mass ape effect make you money.
>>60966009This nigga has never heard of europe. Even in the cities that grifters want to scare people as ”completely lost to non-white immigrants” the crime is actually really low. The countryside is just complete calm.
>>60966009Go back to /pol/, you fucking monkey.
>>60962332Half the anons here would nuke 500k in a week chasing the next dog coin. Put it in real infra, you’re basically securing yourself.
>>60962332Kevin is a retarded clueless boomer not unlike Dave Ramsey who still thinks it's 1970 and honestly believes people can live on $50k a year.
>>60966220Why do you make retarded posts like this when he has already been proven right multiple times in this thread?
>>60966180Real infra bags like A and SUI turn 500k into 5m while the rest burn it on dogshit memes.
>>609660552k is enough in every country on earth as long as you own where you live
I would make 9k a week with a 500k port.
>>60962332Most of /biz/ are already not working
>>60962344Kevin O'Leary is consistently delusional. He literally got scammed by FTX.
>>60962344That's middle class in Europe
>>60962423And we have 8 year deemed disposal here which absolutely makes this place a pile of shit to try and invest from.
>>60962344I live with my parentsHave a remote jobHave no billsI already make 40k a year and invest nearly everything500k is enough by why settle for that when you can go higher?
>>60963262>fuck off to thailand and live like a king with that moneyNot anymore.
$40k is good in flyover country, ask me how I know
>>60966009There’s plenty of land that still has access to utilities but is basically in the middle of nowhere that would make normalfags cry because of how rural and unpopulated they are and with zero jobs available to a person who just moved there.>b-but muh movies, muh hustle, muh hecking shopping centersAgain you fucktard. Stop being a massive normalfag.
my annual living expenses in the us are 24k a year, where the fuck do you niggers live where you need more than that?
>>60962344if you own a house (outside of america that is lol) you can live off that comfortably
>>60962332But one million dollars is literally nothing
>>60967044Fuck off someplace else then.
So many poorfags in here living hand to mouth you guys are fucking coping beta male losers.
>>60967533And you speak like a faggot
>60967533>N-NOOOO!!! YOU DON'T HECKING GET IT!!!! YOU MUST HECKING COOOOONSUUUUUME!!!!
>>60963674best postcrypto will implode though
>>60962377Checked.Ancient meme thank you
>>60965376lol get your money up lil bro. I always feel like such a chad when I come on this site.
>>60963414>wage at chipotle part timefuggin kek’d
>>60968781This board is filled with fat low t virgins who just want to sit down on the computer all day eating processed slop.
