Change my mind.
>>61568673It would be for me. I'm debt free and live within my means. I'd never have to work again just living off interest.
>>615686733 million dollars is upper middle class, you need 5 million minimum to be considered upper class. Anything below 1 million is lower class.
If you're willing to move a bit into the sticks where insurance is cheaper, utilities are cheaper (or shifted to capex like septic), and there's no HOA blood money fee 3 million is totally retirement money.
>>61568673>oh boy I have three million dollars, time to buy a three million dollar houseThree million is absolutely life changing money if you aren't a retard.
>>61568673>He fell for the 4% rule
>>61568688Middle/Upper Middle/Upper are meaningless words. There's working class or not. That's it.Can you live of just your estate? There's lots of relatively well off people with networths in the 7 figures that are basically paycheck to paycheck retards. Just like there used to be relatively wealthy Roman slaves. You're still a slave though, and you're still working class if you're you know working.
>>615686733 thousand dollars would change my life significantly for the better right nowI'd be able to repair my car, buy some construction materials so I can put up a new wall at my place, recoup the losses I incurred buying nice presents for friends and family
It’s a Yahoo ad about a retard!Buy shares of YHOO.You too can retire early!
>life changing money>Look inside>Retard that doesn't understand interest, budgets, or living within their means Many such cases. $3 million in interest nets you 12k a month, that's a 6 figure job salary for life.
I would buy a 4CHAN ticker before a YHOO ticker.Read the “article”. It’s a fake and gay ad by a failed internet bubble site.I don’t know who pays for the servers 4Chan uses, but I’m pretty sure the Yahoo server room smells like butt love.
cheap apt, cheap car, 2 million into investments that yield cash, reinvest half, live off the rest, part time job. you can live anywhere easily and comfortably forever
>>61568673There aren't even that many actual millionaires, just boomers with inflated home equity.
>>61568859>part time jobthats OP's point, 3 million isn't enough to really change your life, you'd still need to work>>61568691ive thought about this life but not having access to basic things like fast food restaurants and grocery stores that aren't walmart would suck, you might as well just move to a cheap country at that point, at least you could probably score some pussy that way
>>61569030If you cant live off 10k a month (4% interest on 3 mil) you either have 10 kids or you're a retard. The people who post these threads are demoralization shills and the people who agree with them are absolute fucktards.
>>61568673The average Americans net worth is $200k. You can change the average person's life with like $10k, the average person's finances are a mess
For me, anything less than $10-12 million is simply not enough. I want to be able to survive a worst case scenario (for me, a 50% drawdown) without having to lower my monthly income.
>>61568688This is harsh reality, 90% of people in today’s world are lower class serfs
if you can't retire on $500K+house you are doing something wrong
>>61568673This is retarded. Yes, 3 mil is the bare minimum to never work again, but you CAN never work again on $90-120k a year at a low tax bracket. This is freedom to work on a business, whatever. If some retard bought a million dollar house, that just makes them a retard.Can you raise a family and perpetually not work on it while staying upper middle class? No - that's 5 mil.3 mil is objectively a lot. Furthermore, most people won't save 3 million in their lifetime. Take 5k a month savings, 60k a year 600k a decade - 4 decades of work - 2.4mil. And that's all very optimistic and slavery4lyfe to not get to 3 mil. 3 mil is on the upper end of what professionals can dream of without excellent investing.>>61569104This is true (and not just today - just more delusion about it today), but that doesn't change the fact that 3 mil is a lot.>>6156908810 mil is the lifestyle of a good surgeon without working.
>>61568707Well yes, there's working class/professional class and then financially independent that can maintain their lifestyle indefinitely without working. But just because your gibs pay for your shared apartment, upkeep on your 2012 Honda and weekly Applebee's trip doesn't necessarily place you above the surgeon that needs to keep getting paid to make mortgage payments on his $10MM home
>>61569163>Furthermore, most people won't save 3 million in their lifetime. Right, most people won't ever really make it
>>61569030nah working a part time job with retirement wealth on the bank is not the same stress as needing to work for basic functionality
>>61568681>never have to work againTake note of the pervading poverty mentality of /biz/. You may as well leave this site and stay on r/antiwork or whatever it is.
>>615686733 million is plenty to retire. His problem is that he did not invest it wisely. If you have 3 million and want to retire you need to set up a passive income stream. The simplest way to do that is just buy a few 1 or 2 bedroom apartments, furnish them, and rent them out. Obviously it depends where you live but if you are in a big city you can easily generate maybe 50k+ doing this. With the rest of money, you can buy a house for yourself, put some in index funds and GICs and just live quietly, travel a little, enjoy life. The problem with a lot of people is they think 3 million is a ton of money that you can splurge on whatever whenever you want, it's really not like that. You need to be cautious and strategic with it. I am 30 and I could easily retire where I live with even 2 or 2.5 million.
>>61569011>2.3% of US adultsThat seems like a high percentage of people with a liquid $1 million. I don't believe it.
if you want to know how much you need to make it in perpetuity, just 25x your annual income. that roughly works.some real turbo autists do a 3.5% swr instead of 4% which is fine, more conservative, but roughly 4% is gonna work fine as long as you aren't full retard and adjust down a bit if the market crashes during a given year.If you need $50k per year, that's just $1.25m. That's not luxury living but it's plenty to get by without having to work if you don't want to. $3m is $120k per year salary equivalent, in perpetuity.
>>61569352 (me)note of course that this is invested net worth, not your house or a pile of physical silver in a gun safe you can't easily sell. has to be invested and liquid, in a boring s&p fund or whatever.
>>61569337Yea, everything is fake and gay. Look around you and you'll see that everything is prohibitively expensive and when the most basic necessity, housing, is this out of control you know we're in hell
>>61569011>6 millionoy vey
>>615693133 million BEFORE you buy a house kinda leaves you with relative shit. Once you buy the house that's more like $1-$2 million you have left, which is like $40k-$80k a year in spending money BEFORE income taxes, property taxes, house maintenance and repairs and utilities. That's more like $30k-60k then, which is "enough for groceries and a used 5 year old shitter and an occasional domestic coach flight and 3 star hotel for a few days"
>>61569374If you want to live in LA or NYC or whatever, sure.houses are expensive in most of America but you can get them for $350-400k in plenty of livable cities. That's expensive but it's not "wipe out $3m fortune" expensive, so I don't get where you're coming from. also people can always just skip buying the house, that's what i'm gonna do, the cost of the asset has ballooned too much, i'm not buying grandpa's bags so he can go retire in cabo. I'm just gonna go have the retirement he wanted my money to fund.
>>61568673U nigger, change my mind!
>>61568673what a fuckin retard. you need at least 10m to retire, MINIMUM. and that's assuming you already have a paid off house.
If you spend more than you bring in then it will never matter how much you make. Getting 4% treasuries will give you an income of 120,000 per year without touching the principle. This is fine for a middle class life in any low or mid cost of living area.
>>61568673You could give some people 200k and they'd manage to live a fantastic life in a HCOL area with minimal work required.You could give another person 10 million and they'd squander it within 2 years and would need to go back to work double time to finance their life style.Money doesn't matter when you can't control you spending habits. The amount of the windfall is just a countdown to when you run out of money (and go into debt).Some people just aren't meant to hold money. They might make a lot, but it's like water through their fingers.
>>61569061thats before taxes. $120,000 a year before taxes isn't good enough to even rent a good apartment in a decent city and still have spending money. you'd have to move to a shitty state without a large city nearby, you'd lose out on huge quality of life factors. if you stayed in a place actually worth living you be able to rent a shitty apartment and have a shitty car and you'd still get bored because you wouldn't be able to afford anything fun.
>>61569282natural slave
>>61569163yeah people are aggressively retarded when it comes to such topics.some moron who currently lives on 1,5-2k a month suddenly demands 30k monthly or its not decent enough money to retire.
>>61569818>$120,000 a year before taxes isn't good enough to even rent a good apartment in a decent cityWhy would I put up with living in a city if I no longer needed to earn money? Some of you so-called "people" are so used to your chains that you'll pay to keep them even after you become free. Once I make it I'm fucking off to the middle of nowhere.
>>61568673Shut up tankstop jeet. Go and take out your next taxfree loan, brown faggot.
>>61568673Shut up, pajeet.Damn, someone please make 4chan captchas more of an IQ test so we weed off indians. Or just range ban India and Canada.
>>615686733 million is 120k a year, how the fuck can you not survive on that?
>>61570622>120kPre-2020 that was a decent amount but after CoL went up by 40-50% it's a laughable amount
>>61569282>wants personal freedom>poverty mindsetThe Magi's gift to you is permanent poverty of spirit, anonIts a terrible night to have a curse
>>61568673In my cunt I could life off of half of that.
>>61568673>How to avoid this mistake>Buy a cheaper house. Thanks for reading and have a great day. How is this a 6 minute read?
>>61569011>approximately 6 million
>>61569818>isn't good enough to even rent a good apartment in a decent cityYes it is, unless you're for some reason married to having the hippest trendiest apartment in the hippest trendiest area.
>>61569352Everything I calculate is on the ground of the 3% rule.
>>61570336we need the final solution: third world firewall.
>>615686733 million will buy exactly 1 house near a golf course on Oahu. And thats it.
>>61569391>Only need $1 mill for a nice house in NYC or LA Aye lmao
>>61569282You know what I mean faggot. I wouldn't have to work some gay 9-5. I could pursue my interests at my leisure.
>>61570927I'd rather buy 150 acres of woods, a two story house, detached garage, a large barn, and a creek I could pan for gold in West Virginia for 200k dollars
2.5 percent of $3m is $75k. You could put your stack into bonds and live on that permanently, adjusted for inflation. You fuckers can’t live on $75k?
you ONLY need about 1.5 mil to achieve retirement standard living3 mil is a luxury but gets rid of the need for a job and the subsequent W2 payroll tax
only got 18ozwill I still have time to make it? I'm buying 1-4oz a week rn
>>61573694when taxies come back I'm gonna buy 20-40oz depending on my refund size, and maybe some gold indian heads
>>61569011Wow, I'm one of the 2%.
>>6156935225X zero is still zero, Anon. I don't think I'm gonna live on that.>>61569374Median house price in the U.S. is something like $450K. You can get a really nice place for that if you don't live in NYC, California, Chicongo, or D.C.
>>61569374You could just live in nice airbnbs in the best 3rd world cities for $1500 a month and chill forever
>>61568681I still have a small mortgage but I could retire quite comfy with 3 million.
>>61568673dollars lolyou'll barely have reserves for one year for basic living cost
>>61568673You're right.30k is life changing money.>>61568688Wealthy is anything over 100k.Anything over 200k makes you a disgusting human
>>61573746There's ZERO chance houses are that cheap in the USA.How the fuck does anyone struggle in America if you can buy a house for under $600k?
>>61574085this, You just need 12k a year for living, 20k a year if you want to live better than Bezos.
>>61574108america is very large. you can buy a cheapo house in the boonies, but then to actually earn enough money to live comfortably in that region you'd need WFH or an hours-long (one way) commute
a $2 roll of nickels is worth $2.70 in metal weight right now
>>61568673The problem with giving random people money via the lotto is you don't give them the ability and self control to manage it.
>>61569337>That seems like a high percentage of people with a liquid $1 million. It doesn't? 401k in index funds and wait 20-30 years will give you 1 million.
>>61574351Good, then they just spend it.
