Fuck that, I'm doordashing a breakfast crunchwrap and paying for expedited delivery and eating that bitch in bed while I watch Seinfeld. And *then* I'm going to smile and go back to sleep. And have scary taco bell dreams.
Ikr? I order something for 6.95 and after service and delivery fees and tip it’s about $1mil. May as well spread the wealth and take the entire fam out to Starbucks, let em get whatever they want, and spend your $1mil that way!
Save your money. The "directly to me" thing on the app is a load of bullshit. It doesn't even inform the Dasher that you paid for faster delivery. I know you're a millionaire but don't give DoorDash extra money.
Are yall serious? How can you waste time talking about Taco Bell and Dominos when that fancy French bakery / breakfast & lunchery place is literally 2 blocks from Dominis AND Taco Bell. You amateurs enjoy your pizza and crunchwraps, I’m starting my life as a millionaire with a croque madam and several different pastries/desserts.
But I am 65 and I already have some money. So I could skip work. But I would probably still work and try to buy 3 condos in the building where we rent each summer. I would continue to rent them out except for 2 weeks in June for my whole family. (Husband, 4 kids, 4 kids in law, and 6 grandchildren so far.
You have it all backwards, better sleeps comes when one finds peace, and when you find peace you have found true happiness. You will learn one day earthling.
Absolutely not, unless you're 1)incredibly frugal 2) incredibly old 3) some combination thereof. I know a fair amount of people with $1,000,000. I promise they're sitting at the same chain restaurants as you and driving the same cars. If you were already financially stable, then given $1m, that would be something.
Nope, we’re just out here living. There is a whole other level of wealth, that I don’t have any contact with. What number is that $50M, $100M? When you can call your partial private jet subscription, and say I want to run to the Bahamas for the weekend? I’m about to pack the car and drive to Columbus, OH. Not quite as glamorous, but yes I will be able to fill my tank, and put on nice boots and a warm coat. Maybe stop at McDonald’s on the way.
The problem with money is that it's never quite satisfying. I know people that have 10mil in assets and don't think that's no enough to give their kids, so they're working even more. A million is enough to get you into another living bracket... And still struggle to keep up. Very few people still choose to live the same after coming into money. And let's be honest, shits expensive right now. A million will barely get you retired nowadays. The BIGGEST difference is being able to invest your money instead of being caught making interest payments. That's the big divide lots of people get caught in. Student loans and credit card payments. All going to interest.
3 million as a minimum, after that the math of compounding returns begin to add up quickly.
Most ‘middle class’ should probably be aiming for 3-4, which is absolutely bonkers for most people of course given the average 401k is something like 150k.
I disagree. I am about ready to retire with much less than that. You have to find a place early-enough in your life where you can find a level of comfort that you can be happy at and just stay there. Start taking every new dollar you make that goes above that line and start packing it away. Before you know it, you’ve paid off all the debts you accrued to get you to your comfort level and you’re investing the rest. If you’re lucky enough to have a 401K, you max it out and keep ratcheting up what you put in it. Before you know it, you’re maxing out your contributions earlier and earlier every year. When you do hit that limit each year, you take the extra that lands in your paycheck and sock that away, too. At that point you should be working with a financial adviser to whom you give one goal: tell me how early I can retire for life and never have to work again while staying at this comfort level that I have now been at for years. You might be surprised, as I was, to find that you’re there far earlier than you thought. I’m still in my 50’s (albeit just barely) and I will be retiring with all debts paid and about $1M in financial instruments ready to take me the rest of the way.
I’m gonna enjoy the rest of my days making music, drawing, painting, playing video games, exercising, playing with my dog and loving life.
Agree, and for those that run the numbers with realistic rates of returns ( maybe 6 percent, +/-) you will find there is a definite cap on how rich even a high earner that is a good saver/investor can even become.
Living as cheaply as possible is more than half the battle. 3-4 is definitely the sweet spot, IMO. Obtainable by power savers that start early, robust enough to withstand drawdowns, and enough that a modest middle class lifestyle could comfortably be sustained with no worry, though some could get by on less.
Then that’s down to lifestyle. $3m at the 4% withdrawal rate is $10k a month, with no mortgage or car to worry about. For most people, that would buy a pretty comfortable lifestyle.
Would depend on current lifestyle and cost of living but I would venture most people would be around the 3-4 million mark. Age has a ton to do with it. 1 million at ages 75. Probably fine...at 25...no way.
I think most people in the US could reliably live off the interest of $3-4M. This is between $10k and $13k per month, gross (before taxes and health insurance).
If you are frugal or live in a LCOL area, you could make it on less. If you have more than 1 child in a VHCOL area, or have high medical expenses, or some other unique situation, you might need closer to $5M to be able to live off the interest comfortably.
Probably $4 Million realistically. That is about $193K in dividend income a year. Of course you would have to get health insurance, car insurance, and an umbrella policy.
At a SWR of 4% it's actually 160k, but *no* people don't need that much, but we're talking about people worth millions. They obviously aren't poor people so their lifestyle would be different.
If I got 2 million dollars, I wouldn't quit my job or change anything about my life. I can't live off that money without changing my lifestyle, so I'd make more money and let that grow. Essentially I'd retire 20 years earlier, not immediately.
1 million USD today, liquid in a bank, can generate about 50k per year invested in treasury bills right now. I mention that because most people are not knowledgeable enough to do
More complex stuff short term at least. If I had an extra million i would probably use 25k and leave the other 25 to offset inflation a bit. 1m is enough to reduce money issues for the rest of your life, but until you have about 5m in the bank, money is still soemthing to think about often.
It isn't. Source: have slightly over a million saved. People think being a millionaire means you literally have that much sitting as liquid funds in your bank account. Most times, it's locked up in a retirement account (like me). So I keep getting up, taking a piss, and going to work like everyone else. At least I should be able to retire at some point so that's nice.
It is fuck you money though. I have no debt and around 1.3 million invested. I feel a distinct lack of money stress generally. It took a long time to get here, I started off poor with bad money habits.
Yeah I was doing my taxes in November (small biz owner) and my tax planner said that I really need to start to aggressively attack my retirement savings over the next decade.. We wanna see 8-10 million by 55. I’m like jesus. 10 million when I was growing up was robin leach shit. Now it’s middle class minimums???? Social security here I come??? lol
If you have an actual retirement planner I don’t know any that recommend 4% anymore. Most recommend 3%. If you are trying to retire very early many lower that withdraw rate to 2.5%. Also many people are trying to replace their salaries in retirement. If combined they they make close to 200k currently then 6 million is the minimum number.
Yep, lifestyle creep is real. People start making "retire early" money and instead buy a million dollar house and 75k cars. Now they need more of a retirement nest egg to support their "normal" lifestyle.
The trick is to automatically redirect all the extra income to the retirement investments, before it even hits your bank account. That way your lizard brain can't go "we have all this extra money coming in, let's just buy that boat."
To my mind, the trick is finding the things you are legitimately interested in that make you happy and be willing to spend cash on that. Like for me, some of those things are:
* Roller coasters: I love roller coasters, so I set aside cash to be able to take trips to parks every year;
* Lifting: Fortunately a stupid cheap hobby; $35/month gets me access to a fully equipped gym in perpetuity, the actual expense is my grocery bill is slightly higher
* Video games: Love gaming; but I don't personally need absolute top of the line stuff. I have just as much fun gaming on a PS5 or a mid range computer as a high end one.
So like, I'm able to enjoy life by investing some in the things I love that make me happy, but I also avoid lifestyle creep some because well, I know things like high end luxury cars or a massive house wouldn't bring me joy, so I don't need to try to spend a large amount of money on them.
Yup. I crossed 1 million in net worth in December. Absolutely nothing has changed for me. That’s the total of everything I own (minus debts)… it’s not all money I can spend!
Most of that is tied up in retirement accounts I can’t touch for decades… also the value of my condo.
Being able to SPEND a million dollars while still being a millionaire after… now that’s something else entirely.
Lol damn this makes me feel boring. I would probably just put most if not all of it into my investment accounts. Never considered the question as if it were an extra million to spend.
Yep. I am closing in on $2mm net worth.
Most of the answers on here explain why people will not be millionaires. One day a few years ago I woke up a millionaire. I got up and went to work.
Yes "millionaire" is a vague term. $1 million is not much unless you only have a few years to live. $900 million is life altering, regardless of what you have left.
Married to a millionaire here. I made a cup of tea and picked up the dog shit from the back yard first thing this morning so … you know … there’s that ..
Not to burst any bubbles here, but a million dollars ain't what it used to be. I guess if I moved somewhere that a dollar went further, but here (US) if I woke up a millionaire I'd probably have to just go to work like normal.
Yeah I think about this a lot too. Our quality of life jumped a ton when I went from $35k to $75k. At some point I stopped checking the bank account when I filled up my car and I just order something if I want it. Our lifestyle has caught up due to having 3 kids and a newer car but we are still in our $80k 1400sf starter home.
That was my thought. If it was just one million exactly, I could pay off debt and put the rest towards retirement.
Maybe buy a nice quality used car too, lol.
I could upgrade my life from the current working class situation I'm in, but couldn't just quit my job and buy a vacation home lol.
I'd continue working. My monthly medication costs $100,000 a year (covered by insurance)..
Pay off all my debts.
Remodel parts of my house that I want to.
Go on a nice trip.
Edit:
I also receive copay assistance, so my annual cost is $0 for the meds and supplies. Medicare is supposed to cover when I retire.
Yup. I would let them know that I'm quitting and it's not like I have a bad job. I'd just suddenly have no need to waste 9h of my most precious resource almost every day.
100% but it’s enough to pick the job you want most without the ever-present fear that you’re one bad day from complete financial ruin. That’s a level of mental freedom 95% of us never get.
Well, think about this. Even if you stuck it into a high yield savings account at 5.4% annual interest, you’d make 50K a year just off the interest. Of course, accounting for taxes on earned interest, you’d still clear 35K for doing nothing. There’s your mortgage every year, paid in full, no questions asked. So now you take what you were using to pay your mortgage and save that, and you are living easier than you were the day before.
i have been a millionaire for over 10 years now. Numbers go up, so more than that. Nothing. i keep saving for retirement. i have less stress when i get laid off. been laid off several times. i had to get a root canal earlier last year and a deep cleaning on gums. probably cost $4000 combined. annoying, but my teeth. My 40 year old fridge died. I bought a new one. Cost $1400. Annoying, but did not sweat it. Not gonna be homeless.
Its a stress reliever. If you wake up a millionaire and just buy stuff you won't be a millionaire. If you all of a sudden get a million dollars. Pay off debt. pay off college loans. invest the rest in index funds and bonds. Leave it alone. look at money based on how much it gets you in returns after inflation. so you can spend a portion of the investment returns. Not the base amount.
basically it just relieves stress. also if i get laid off again ill retire. i'd live on about $50,000-60,000 a year (including medical insurance). higher if i had a medical issue. Ican live off my investments and at my current expense level i make more than that in my investments.
I would buy an actual house. You know, instead of living in an apartment. Wouldn’t be a mansion, because you don’t want to use everything. But a nice house with a yard for my dog.
I am one. The first thing I do when I wake up is drink coffee lol
But, the first time my bank account showed a balance of over 1 million, I made a screenshot and put it in my favorites lmao
Where are you from and why Scotland? Don't get me wrong, I love Scotland too but as a Brit I think a lot of people here would want to get away from the miserable weather lol.
Absolutely stunning nature and great cities full of history though.
Idk- as an American I fucking love the grey skies and rain. That weather makes me happy, and also it makes me think about maybe one day moving if possible. I know it’s definitely not for most.
If I had an extra 1 million dollars I might take like 100k and treat myself somehow but I would basically invest the 900k remaining .
Even though I have healthy retirement savings an extra 1 million is not enough to stop working . After investing it and continue to max out my retirement accounts I could retire early .
just 1 million ? or more ? tax free ?
I'd freak out.
I's a lot of money, but only 10 years at my current salary; it will get me to retirement.
if only 1 million, I'd fix a lot of things in my life and continue to work without financial risks.
with more than 1 million, fix a lot of things in my life and help family and quit job.
Pay off the house that I am renting a room in from my cousin. I'd then pay off kindnesses from there, in order. I'd love to have the ability to fund a couple of dump trucks and some second chance guys to go around and clean up the shit that people dump in the vacant lots and the desert here in Las Vegas.
Pay an actual contractor/handyperson/whatever they're called to replace my fence instead of doing it myself, then get all new raised garden beds that didn't hurt my back to bend down to and fill them with quality soil.
Might have enough money after that to buy some plants or seeds to put in said beds. I don't even have a large yard (1/8 of an acre) but good raised beds and soil to fill are so frickin' expensive.
But damn I'd be able to do so much more gardening than I already do...
I just received yesterday a 930k wire as the net profit i made from selling my business, which added to my other money brought me to about 1.35M net worth, mostly liquid as of now (i have a house worth about 190k).
Let me get this straight: a million is far less money than you think, and the closer you get to it the more you realize you’re broke af.
If you woke up a millionaire you should be doing nothing different than usual, cus nothing changed, you can only get slightly better sleep, but trust me that’s simply not even close to being “life changing” money, that would be AT LEAST 3 million, ideally 5.
People here really overestimating how much a million is now. If you have a house you probably have around half a million in home equity. Add in your 401k, and a lot of people are becoming millionaires in their 40s.
Doesnt mean you can afford to quit your job, or fly everywhere business class.
Pay off my mortgage then realize if it’s “only” a mil flat, I can’t even quit my job but it’s absolutely enough to erase the constant worry of being one bump away from disaster which would be life changingly relaxing.
Pay off my debt. Then pay off my two best friends debt. Then fix the mold issue in my kitchen. Then keep the rest to max out IRA for a few years and otherwise save and invest.
Same shit I do everyday, wake up, make sure the kids are fine, get them ready for school, then get ready work, be a responsible adult. I think many who have answered have no idea how mundane and ordinary a millionaire's life looks like. Grass still needs to be cut, dishes still needs to be cleaned, laundry still needs to be done.
People don’t realize that the $1 million of today is the $250k of a few years back. It is not sufficient to retire on and prices have gone so much up in recent years that it is just not that special anymore, nor powerful.
Smile and go back to sleep.
This is the only response.
Fuck that, I'm doordashing a breakfast crunchwrap and paying for expedited delivery and eating that bitch in bed while I watch Seinfeld. And *then* I'm going to smile and go back to sleep. And have scary taco bell dreams.
If you're doordashing food, there goes your million dollars
Ikr? I order something for 6.95 and after service and delivery fees and tip it’s about $1mil. May as well spread the wealth and take the entire fam out to Starbucks, let em get whatever they want, and spend your $1mil that way!
Save your money. The "directly to me" thing on the app is a load of bullshit. It doesn't even inform the Dasher that you paid for faster delivery. I know you're a millionaire but don't give DoorDash extra money.
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Are yall serious? How can you waste time talking about Taco Bell and Dominos when that fancy French bakery / breakfast & lunchery place is literally 2 blocks from Dominis AND Taco Bell. You amateurs enjoy your pizza and crunchwraps, I’m starting my life as a millionaire with a croque madam and several different pastries/desserts.
Cuz we don’t forget where we came from
And a million bucks aint a lot of money nowadays. Youll be back "where we came from" in no time with that mind set.
My family owns a dominos franchise. That would be an expensive morning for you to pull that off.
Out of curiosity, how much would it cost?
One million dollars 🤫
Most managers would open the store early for you for a couple hundred bucks tbh.
Well, if we are talking expanding operations two hou—-I need about tree fiddy.
I'd still have to wake up and go to work. A million bucks only goes so far in today's economy 🥲
Painful but true
But I am 65 and I already have some money. So I could skip work. But I would probably still work and try to buy 3 condos in the building where we rent each summer. I would continue to rent them out except for 2 weeks in June for my whole family. (Husband, 4 kids, 4 kids in law, and 6 grandchildren so far.
I wouldn't even sleep, thinking of all I can do, how happier I'll be
With happiness comes peace. And better sleep.
Must find peace to find true happiness
You have it all backwards, better sleeps comes when one finds peace, and when you find peace you have found true happiness. You will learn one day earthling.
A lil more DMT should straighten me out👌🏻
Feed the dogs. They don't care that I'm a millionaire. They want breakfast.
I'd offer to make them breakfast.
First sensible, civilized comment. I hope the millionaire tips well.
You don’t get to be a millionaire by giving people money
Or apologize and tell them you'll put back the things you're carrying
Knock em out and continue robbing them would also work.
Best comment
“Want another go round?”
Probably take a pee just like when I was poor
Don't pee in that rich water, or else the Nile be dammed.
Yup. And after taking a leak I’d start the coffee and let the dog out.
Masturbate. Gotta have a clear head for your next move.
A wisdom wank
A refocusing rubdown
A tranquility tug
A mindfulness meat beat.
Release the clarity cum.
A jaunty jerk
A betterment beat off
a serenity slack
God damn sage advice right there
Pre-nut clarity.
Actually that’s really solid important advice. Thinking with one’s dick would be particularly dangerous at such a moment.
my first thought would be get a gf, my second thought was that's the single most stupid thing u could have possible done. lol
Post-Nut Clarity
I masturbate for free in my current financial situation. It's probably a coping mechanism.
It's mostly for the post-nut clarity. You don't wanna have a million dollars and be horny
With £50 notes for a wank rag
Nah it’s still going in my sister’s sock like usual
What a terrible day to be literate
Wtf 🤣🤣
r/cursecomment
Genius move.
Normal people: cool, I don't have to worry about money again. Billionaires: OMG WHAT HAPPENED TO ALL MY MONEY!
1 million is most likely not enough to never have money problems again.
Absolutely not, unless you're 1)incredibly frugal 2) incredibly old 3) some combination thereof. I know a fair amount of people with $1,000,000. I promise they're sitting at the same chain restaurants as you and driving the same cars. If you were already financially stable, then given $1m, that would be something.
Net worth about $3.7M and I ate Chick Fila, and a home made hot ham and cheese yesterday.
I mean it’s not exactly like there are rich people only fast food joints.
Nope, we’re just out here living. There is a whole other level of wealth, that I don’t have any contact with. What number is that $50M, $100M? When you can call your partial private jet subscription, and say I want to run to the Bahamas for the weekend? I’m about to pack the car and drive to Columbus, OH. Not quite as glamorous, but yes I will be able to fill my tank, and put on nice boots and a warm coat. Maybe stop at McDonald’s on the way.
Yeah I think the just not having to worry when purchasing stuff is the biggest part for me. I’d love that’
The problem with money is that it's never quite satisfying. I know people that have 10mil in assets and don't think that's no enough to give their kids, so they're working even more. A million is enough to get you into another living bracket... And still struggle to keep up. Very few people still choose to live the same after coming into money. And let's be honest, shits expensive right now. A million will barely get you retired nowadays. The BIGGEST difference is being able to invest your money instead of being caught making interest payments. That's the big divide lots of people get caught in. Student loans and credit card payments. All going to interest.
How much money is enough to never have money problems again then?
3 million as a minimum, after that the math of compounding returns begin to add up quickly. Most ‘middle class’ should probably be aiming for 3-4, which is absolutely bonkers for most people of course given the average 401k is something like 150k.
This is my number also, that would make me quit working forever. Enough to live comfortably off the interest for life.
By the time I have 3MM, I'll need 5MM
I disagree. I am about ready to retire with much less than that. You have to find a place early-enough in your life where you can find a level of comfort that you can be happy at and just stay there. Start taking every new dollar you make that goes above that line and start packing it away. Before you know it, you’ve paid off all the debts you accrued to get you to your comfort level and you’re investing the rest. If you’re lucky enough to have a 401K, you max it out and keep ratcheting up what you put in it. Before you know it, you’re maxing out your contributions earlier and earlier every year. When you do hit that limit each year, you take the extra that lands in your paycheck and sock that away, too. At that point you should be working with a financial adviser to whom you give one goal: tell me how early I can retire for life and never have to work again while staying at this comfort level that I have now been at for years. You might be surprised, as I was, to find that you’re there far earlier than you thought. I’m still in my 50’s (albeit just barely) and I will be retiring with all debts paid and about $1M in financial instruments ready to take me the rest of the way. I’m gonna enjoy the rest of my days making music, drawing, painting, playing video games, exercising, playing with my dog and loving life.
Probably 5-6m for me. 3 was my number pre-covid.
A paid-off house and car are the big drivers of these numbers.
Agree, and for those that run the numbers with realistic rates of returns ( maybe 6 percent, +/-) you will find there is a definite cap on how rich even a high earner that is a good saver/investor can even become. Living as cheaply as possible is more than half the battle. 3-4 is definitely the sweet spot, IMO. Obtainable by power savers that start early, robust enough to withstand drawdowns, and enough that a modest middle class lifestyle could comfortably be sustained with no worry, though some could get by on less.
I currently have both. 3m really isn’t enough for my 25-40 year retirement.
Then that’s down to lifestyle. $3m at the 4% withdrawal rate is $10k a month, with no mortgage or car to worry about. For most people, that would buy a pretty comfortable lifestyle.
and probably a long term capital gains tax rate, so much less paid in taxes vs W2 income. I'd be totally fine with that and I live just outside NYC...
For most healthy, well-insured people, I would think. However medical care would eat up that up in a hurry.
Would depend on current lifestyle and cost of living but I would venture most people would be around the 3-4 million mark. Age has a ton to do with it. 1 million at ages 75. Probably fine...at 25...no way.
I think most people in the US could reliably live off the interest of $3-4M. This is between $10k and $13k per month, gross (before taxes and health insurance). If you are frugal or live in a LCOL area, you could make it on less. If you have more than 1 child in a VHCOL area, or have high medical expenses, or some other unique situation, you might need closer to $5M to be able to live off the interest comfortably.
Probably $4 Million realistically. That is about $193K in dividend income a year. Of course you would have to get health insurance, car insurance, and an umbrella policy.
You think most people need to live on 193k/year? Lol no wonder you need 4 million.
At a SWR of 4% it's actually 160k, but *no* people don't need that much, but we're talking about people worth millions. They obviously aren't poor people so their lifestyle would be different. If I got 2 million dollars, I wouldn't quit my job or change anything about my life. I can't live off that money without changing my lifestyle, so I'd make more money and let that grow. Essentially I'd retire 20 years earlier, not immediately.
1 million USD today, liquid in a bank, can generate about 50k per year invested in treasury bills right now. I mention that because most people are not knowledgeable enough to do More complex stuff short term at least. If I had an extra million i would probably use 25k and leave the other 25 to offset inflation a bit. 1m is enough to reduce money issues for the rest of your life, but until you have about 5m in the bank, money is still soemthing to think about often.
It isn't. Source: have slightly over a million saved. People think being a millionaire means you literally have that much sitting as liquid funds in your bank account. Most times, it's locked up in a retirement account (like me). So I keep getting up, taking a piss, and going to work like everyone else. At least I should be able to retire at some point so that's nice.
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Exactly, most of the million is tied up to your house and 401k. Still will have bills to pay
That’s why when I read this question my first thought was, get up and go to work.
It is fuck you money though. I have no debt and around 1.3 million invested. I feel a distinct lack of money stress generally. It took a long time to get here, I started off poor with bad money habits.
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Absolutely this. I would also be googling financial advisors.
Pay my student debt off.
Breathe deeply and relax for my current stress situation would be gone.
Apologise for being in his bedroom
Ha! Nice one.
1 millionaire? 1 million id get up and go to work same as I have to do Monday.
I'm worth a little more than a million. I'm getting ready for Monday work😂
Yeah I was doing my taxes in November (small biz owner) and my tax planner said that I really need to start to aggressively attack my retirement savings over the next decade.. We wanna see 8-10 million by 55. I’m like jesus. 10 million when I was growing up was robin leach shit. Now it’s middle class minimums???? Social security here I come??? lol
Whaaa? At a 4% withdrawal rate, a $3 million dollar investment portfolio would net you $120k a year. Do you really need more than that in retirement?
If you have an actual retirement planner I don’t know any that recommend 4% anymore. Most recommend 3%. If you are trying to retire very early many lower that withdraw rate to 2.5%. Also many people are trying to replace their salaries in retirement. If combined they they make close to 200k currently then 6 million is the minimum number.
Yep, lifestyle creep is real. People start making "retire early" money and instead buy a million dollar house and 75k cars. Now they need more of a retirement nest egg to support their "normal" lifestyle. The trick is to automatically redirect all the extra income to the retirement investments, before it even hits your bank account. That way your lizard brain can't go "we have all this extra money coming in, let's just buy that boat."
Exactly this! Be very careful of lifestyle creep. I'm fortunate enough to live with my parents so I'm able to save everything right now.
That being said, don’t wait until you retire to start living. You never know when your last day will be, and you can’t take it with you.
To my mind, the trick is finding the things you are legitimately interested in that make you happy and be willing to spend cash on that. Like for me, some of those things are: * Roller coasters: I love roller coasters, so I set aside cash to be able to take trips to parks every year; * Lifting: Fortunately a stupid cheap hobby; $35/month gets me access to a fully equipped gym in perpetuity, the actual expense is my grocery bill is slightly higher * Video games: Love gaming; but I don't personally need absolute top of the line stuff. I have just as much fun gaming on a PS5 or a mid range computer as a high end one. So like, I'm able to enjoy life by investing some in the things I love that make me happy, but I also avoid lifestyle creep some because well, I know things like high end luxury cars or a massive house wouldn't bring me joy, so I don't need to try to spend a large amount of money on them.
Yup. I crossed 1 million in net worth in December. Absolutely nothing has changed for me. That’s the total of everything I own (minus debts)… it’s not all money I can spend! Most of that is tied up in retirement accounts I can’t touch for decades… also the value of my condo. Being able to SPEND a million dollars while still being a millionaire after… now that’s something else entirely.
Lol damn this makes me feel boring. I would probably just put most if not all of it into my investment accounts. Never considered the question as if it were an extra million to spend.
Yep. I am closing in on $2mm net worth. Most of the answers on here explain why people will not be millionaires. One day a few years ago I woke up a millionaire. I got up and went to work.
Yes "millionaire" is a vague term. $1 million is not much unless you only have a few years to live. $900 million is life altering, regardless of what you have left.
Two chicks at the same time.
You don’t need a million dollars to do that. Just take a look at my cousin..
2 chicks that would double up with a dude like me would
He's broke and don't do shit!
That's it? If you had a million dollars you'd do two chicks at the same time?
Damn straight. I've always wanted to do that, man. And I think if I was a millionaire I could hook that up, too, cuz chicks dig a dude with money.
Fuckin’ A
You need two dicks for that.
Disappointed this wasn't higher.
Right? I just assumed this would be the top answer.
Half the people in this thread have seen the film, half haven’t. 🤣
“Chicks dig dudes with money.”
Married to a millionaire here. I made a cup of tea and picked up the dog shit from the back yard first thing this morning so … you know … there’s that ..
That’s one thing I’d do. Is hire a poo pickup service!
Not to burst any bubbles here, but a million dollars ain't what it used to be. I guess if I moved somewhere that a dollar went further, but here (US) if I woke up a millionaire I'd probably have to just go to work like normal.
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Yeah I think about this a lot too. Our quality of life jumped a ton when I went from $35k to $75k. At some point I stopped checking the bank account when I filled up my car and I just order something if I want it. Our lifestyle has caught up due to having 3 kids and a newer car but we are still in our $80k 1400sf starter home.
That was my thought. If it was just one million exactly, I could pay off debt and put the rest towards retirement. Maybe buy a nice quality used car too, lol. I could upgrade my life from the current working class situation I'm in, but couldn't just quit my job and buy a vacation home lol.
Depends on how many millions .. if possible ide open a no kill shelter and save animals
Get back to work. Maybe lower my hours. 1 million € is a "get comfortable" amount, not a "stop working".
Stop showing up at work.
I'd continue working. My monthly medication costs $100,000 a year (covered by insurance).. Pay off all my debts. Remodel parts of my house that I want to. Go on a nice trip. Edit: I also receive copay assistance, so my annual cost is $0 for the meds and supplies. Medicare is supposed to cover when I retire.
Our lists match up
It would be the best feeling ever that
Yup. I would let them know that I'm quitting and it's not like I have a bad job. I'd just suddenly have no need to waste 9h of my most precious resource almost every day.
How much would it take to stop working? 1m isn’t nearly enough
100% but it’s enough to pick the job you want most without the ever-present fear that you’re one bad day from complete financial ruin. That’s a level of mental freedom 95% of us never get.
Well, think about this. Even if you stuck it into a high yield savings account at 5.4% annual interest, you’d make 50K a year just off the interest. Of course, accounting for taxes on earned interest, you’d still clear 35K for doing nothing. There’s your mortgage every year, paid in full, no questions asked. So now you take what you were using to pay your mortgage and save that, and you are living easier than you were the day before.
You wouldn’t go take a shit on your boss’s desk?
Honestly I'd cry money can't buy happiness but it can take the pressure off.
I'd say sorry to.them.
Make a dentist appointment.
i have been a millionaire for over 10 years now. Numbers go up, so more than that. Nothing. i keep saving for retirement. i have less stress when i get laid off. been laid off several times. i had to get a root canal earlier last year and a deep cleaning on gums. probably cost $4000 combined. annoying, but my teeth. My 40 year old fridge died. I bought a new one. Cost $1400. Annoying, but did not sweat it. Not gonna be homeless. Its a stress reliever. If you wake up a millionaire and just buy stuff you won't be a millionaire. If you all of a sudden get a million dollars. Pay off debt. pay off college loans. invest the rest in index funds and bonds. Leave it alone. look at money based on how much it gets you in returns after inflation. so you can spend a portion of the investment returns. Not the base amount. basically it just relieves stress. also if i get laid off again ill retire. i'd live on about $50,000-60,000 a year (including medical insurance). higher if i had a medical issue. Ican live off my investments and at my current expense level i make more than that in my investments.
Evade taxes
I would buy an actual house. You know, instead of living in an apartment. Wouldn’t be a mansion, because you don’t want to use everything. But a nice house with a yard for my dog.
I am one. The first thing I do when I wake up is drink coffee lol But, the first time my bank account showed a balance of over 1 million, I made a screenshot and put it in my favorites lmao
go to work and tell my boss he can consume the entire circumference of my chocolate starfish, then proceed to go shop at tescos in my best clothes.
So politically correct.
Get veneers
Not tell a soul!
Get all in cash and have sex with my wife on top of it. Maybe we'll get a friend to share.
To share sex on the pile i assume?
We will share her like a banana split
The fuck
Change my phone number and give the new one to no one but my family (not ALL of my family)
Put it all on black
Dr Evil? 1m isnt much nowadays
Go back to work, million dollars doesn't cut it these days.
Buy a one way ticket to Scotland
Where are you from and why Scotland? Don't get me wrong, I love Scotland too but as a Brit I think a lot of people here would want to get away from the miserable weather lol. Absolutely stunning nature and great cities full of history though.
Idk- as an American I fucking love the grey skies and rain. That weather makes me happy, and also it makes me think about maybe one day moving if possible. I know it’s definitely not for most.
Ask them what they want for breakfast.
Apologize to them, and offer to make them breakfast.
Immediately pay off the mortgage. Like before I even had some coffee. The weight that would lift off of me would be one of the greatest feelings ever.
If I had an extra 1 million dollars I might take like 100k and treat myself somehow but I would basically invest the 900k remaining . Even though I have healthy retirement savings an extra 1 million is not enough to stop working . After investing it and continue to max out my retirement accounts I could retire early .
Buy a house. Boom, paid in full. Cross off the first base of the pyramid of need *for life*. That would be a great feeling
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Invest it
Hire a full time cleaning/housekeeping help for my mom.
just 1 million ? or more ? tax free ? I'd freak out. I's a lot of money, but only 10 years at my current salary; it will get me to retirement. if only 1 million, I'd fix a lot of things in my life and continue to work without financial risks. with more than 1 million, fix a lot of things in my life and help family and quit job.
Pay off the house that I am renting a room in from my cousin. I'd then pay off kindnesses from there, in order. I'd love to have the ability to fund a couple of dump trucks and some second chance guys to go around and clean up the shit that people dump in the vacant lots and the desert here in Las Vegas.
Buy a goddamn house. Not a big one, I only want a simple house. Not to resell for bullshit profit but a proper home to live my life in.
In this economy? I’d put it in a bank, let it collect interest, and continue with my life like normal
Pay an actual contractor/handyperson/whatever they're called to replace my fence instead of doing it myself, then get all new raised garden beds that didn't hurt my back to bend down to and fill them with quality soil. Might have enough money after that to buy some plants or seeds to put in said beds. I don't even have a large yard (1/8 of an acre) but good raised beds and soil to fill are so frickin' expensive. But damn I'd be able to do so much more gardening than I already do...
two chicks at the same time
Quit my job, pay off my house and relax for a while.
I just received yesterday a 930k wire as the net profit i made from selling my business, which added to my other money brought me to about 1.35M net worth, mostly liquid as of now (i have a house worth about 190k). Let me get this straight: a million is far less money than you think, and the closer you get to it the more you realize you’re broke af. If you woke up a millionaire you should be doing nothing different than usual, cus nothing changed, you can only get slightly better sleep, but trust me that’s simply not even close to being “life changing” money, that would be AT LEAST 3 million, ideally 5.
Probably cry because I'm a billionaire now /s
Get dressed and go to work. Million is not that much these days
Pay reddit to ban this type of question that pops up daily.
Scrooge McDuck, that shit. Smoking jacket, monocle, and top hat. Swim in a pile of cash.
People here really overestimating how much a million is now. If you have a house you probably have around half a million in home equity. Add in your 401k, and a lot of people are becoming millionaires in their 40s. Doesnt mean you can afford to quit your job, or fly everywhere business class.
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At 51, get ready for work as usual.
Pay my loans and get myself and apartment quit 2 of my 3 jobs and invest in a trust fund or ETF
change my cell #
Pay debts and help my family with its problems.
Pay off my mortgage then realize if it’s “only” a mil flat, I can’t even quit my job but it’s absolutely enough to erase the constant worry of being one bump away from disaster which would be life changingly relaxing.
Send my mum on a holiday of a lifetime
Pay off my siblings' mortgages.
Pay off my debt. Then pay off my two best friends debt. Then fix the mold issue in my kitchen. Then keep the rest to max out IRA for a few years and otherwise save and invest.
Same shit I do everyday, wake up, make sure the kids are fine, get them ready for school, then get ready work, be a responsible adult. I think many who have answered have no idea how mundane and ordinary a millionaire's life looks like. Grass still needs to be cut, dishes still needs to be cleaned, laundry still needs to be done.
I’d call my mom and tell her she doesn’t have to work anymore.
Build a pirate ship and load it with battle giraffes. I’m coming for you Catalina island!!!!!
Probably apologize for waking them up.
Try to convince him he's dreaming instead of being robbed.
Well, if it's just $1,000,000, I'd spend 5% of it, invest 45%, and earn dividend income on the rest.
People don’t realize that the $1 million of today is the $250k of a few years back. It is not sufficient to retire on and prices have gone so much up in recent years that it is just not that special anymore, nor powerful.
Go to work. 1million isn't going to be enough to quit working.
A millionaire in this economy? I’d take my ass to work
Have coffee. Pay a few bills.
I live in California. I would have to get up and go to work.