Living Off of Interest [modified]

DRHuff

Two words - TARP funds! :laugh:

I'm pretty sure I would not like to live in a world in which I would never be offended. I am absolutely certain I don't want to live in a world in which you would never be offended. Dave

Chris Austin · modified on Thursday, May 14, 2009 8:23 PM

Intel 4004 wrote:

How hard is it to get 5 million dollars?

Don't you have that in Gold Bullion already? If you can you save money and keep your housing cost below 35% of your income you could live quit comfortably and build a nest egg rapidly.

Intel 4004 wrote:

I calculated you would need 5 million generating 5% interest putting 4% of the interest back in and taking 1% for spending.

5% is pretty low. At $5million you are a qualified investor and you should expect >10% APY.

Sovereign ingredient for a happy marriage: Pay cash or do without. Interest charges not only eat up a household budget; awareness of debt eats up domestic felicity. --Lazarus Long Avoid the crowd. Do your own thinking independently. Be the chess player, not the chess piece. --Ralph Charell

Lost User · modified on Thursday, May 14, 2009 8:23 PM

I would think that as a general rule if you're not able to work out the answer there's a pretty good chance you wont need to know the answer :)

Christian Graus · modified on Thursday, May 14, 2009 8:23 PM

Intel 4004 wrote:

How much money would you have to have to live off of interest at a rate of 50k a year before taxes

The real question is, how can someone live on only 50k a year ?

Intel 4004 wrote:

How hard is it to get 5 million dollars?

Well, they don't give it away. To get that sort of money, you'd need to start a business that is very successful. Or break some laws, I guess.

Christian Graus Driven to the arms of OSX by Vista. "I am new to programming world. I have been learning c# for about past four weeks. I am quite acquainted with the fundamentals of c#. Now I have to work on a project which converts given flat files to XML using the XML serialization method" - SK64 ( but the forums have stuff like this posted every day )

Captain See Sharp

Christian Graus wrote:

how can someone live on only 50k a year ?

If you can't live off of that then there is something wrong with you.

ENDGAME[^]

Christian Graus

I guess it's possible, but it would suck.

Christian Graus Driven to the arms of OSX by Vista. "I am new to programming world. I have been learning c# for about past four weeks. I am quite acquainted with the fundamentals of c#. Now I have to work on a project which converts given flat files to XML using the XML serialization method" - SK64 ( but the forums have stuff like this posted every day )

Captain See Sharp

Christian Graus wrote:

but it would suck.

No it wouldn't. Anyone can live in comfort with that kind of money. I could live off of 1000 a month, but I am a simple man. As long as I have my technology and comfort items such as tea and smoke I am just fine.

ENDGAME[^]

Oakman

Intel 4004 wrote:

How hard is it for an average subservient peasant joe like most people

Two chances to do it: zero and none.

Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin

Oakman

Josh Gray wrote:

I would think that as a general rule if you're not able to work out the answer there's a pretty good chance you wont need to know the answer

:thumbsup:

Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin

Captain See Sharp

I guess I better go clean my mexican highness's porterpotty.

ENDGAME[^]

Christian Graus

Yeah, but I like to pay for the stuff I want/need. I could stay in one spot and eat at home for $50k a year, but that's not much of a goal in life, is it ?

Christian Graus Driven to the arms of OSX by Vista. "I am new to programming world. I have been learning c# for about past four weeks. I am quite acquainted with the fundamentals of c#. Now I have to work on a project which converts given flat files to XML using the XML serialization method" - SK64 ( but the forums have stuff like this posted every day )

Captain See Sharp

Christian Graus wrote:

I could stay in one spot and eat at home for $50k a year, but that's not much of a goal in life, is it ?

Well if you want to give your money away like its Halloween candy then be my guest. I will sell you a few works from me if you like.

ENDGAME[^]

Christian Graus

*grin* just because I like to travel, and eat out, doesn't mean I want to give my money away. I use it to pay for services I enjoy. My real point is, how much you need to live, depends on the lifestyle you're accustomed to, and if you want to stop working for your whole life, you need to really achieve something that other people are willing to pay for. It doesn't just fall from the sky.

Christian Graus Driven to the arms of OSX by Vista. "I am new to programming world. I have been learning c# for about past four weeks. I am quite acquainted with the fundamentals of c#. Now I have to work on a project which converts given flat files to XML using the XML serialization method" - SK64 ( but the forums have stuff like this posted every day )

Oakman

Christian Graus wrote:

I could stay in one spot and eat at home for $50k a year, but that's not much of a goal in life, is it ?

That sentiment is exactly why my 2nd wife divorced me.

Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin

Christian Graus

*grin* well, she was perhaps making a different point to the one I had in mind...

Christian Graus Driven to the arms of OSX by Vista. "I am new to programming world. I have been learning c# for about past four weeks. I am quite acquainted with the fundamentals of c#. Now I have to work on a project which converts given flat files to XML using the XML serialization method" - SK64 ( but the forums have stuff like this posted every day )

kmg365 · modified on Thursday, May 14, 2009 8:23 PM

Welcome to the star ship money talk[^] and the land of critical mass. I once knew a u$ employee. She worked there for 7 years and made 2 million and invested it. She quit, retired (at 35). Then she went back to work for kicks and runs (actually she is) a IT department for a dog food distributer. (I only have one order of magnitude to go :(( )

modified on Thursday, May 14, 2009 11:06 PM

Tim Craig · modified on Thursday, May 14, 2009 8:23 PM

Intel 4004 wrote:

How hard is it to get 5 million dollars?

It's easy[^], but not likely.

"Republicans are the party that says government doesn't work and then they get elected and prove it." -- P.J. O'Rourke

I'm a proud denizen of the Real Soapbox[^]
ACCEPT NO SUBSTITUTES!!!

Tom Deketelaere

Christian Graus wrote:

The real question is, how can someone live on only 50k a year ?

Depends on where you live, over here that's ALLOT of money (in comparison I have around $25k (after tax), and that's a nice pay-check).

Christian Graus

Yeah, that's a good point. $44k is the average wage at home. It costs more to live in Australia. A restaurant meal costs me $100 at home ( for two adults, two kids ). That's average, not a nice place. My Prius cost $54k

Christian Graus Driven to the arms of OSX by Vista. "I am new to programming world. I have been learning c# for about past four weeks. I am quite acquainted with the fundamentals of c#. Now I have to work on a project which converts given flat files to XML using the XML serialization method" - SK64 ( but the forums have stuff like this posted every day )

Chris Austin

Christian Graus wrote:

My Prius cost $54k

Zowie! Is that in AU$? Ours was $19K USD.

Sovereign ingredient for a happy marriage: Pay cash or do without. Interest charges not only eat up a household budget; awareness of debt eats up domestic felicity. --Lazarus Long Avoid the crowd. Do your own thinking independently. Be the chess player, not the chess piece. --Ralph Charell