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Forum » I you had $1,000,000 -- would you NEET for life?
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Thread: I you had $1,000,000 -- would you NEET for life?

post 1704374371 07-30-2024, 09:02 PM
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Id move to Thailand live in a mansion and bang hot lady boys
post 1704374461 07-30-2024, 09:06 PM
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I could retire today but I like my life and job. My only real goal right now is to become Mayor my town, change zoning laws so home prices will sky rocket, sell my land then move to Missouri and get a nice farm on a river.
no crew crew
post 1704377271 07-30-2024, 10:33 PM
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Originally Posted By elterrible987⏩
Id move to Thailand live in a mansion and bang hot lady boys
interesting
post 1704377561 07-30-2024, 10:44 PM
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Originally Posted By dingler⏩
I could retire today but I like my life and job. My only real goal right now is to become Mayor my town, change zoning laws so home prices will sky rocket, sell my land then move to Missouri and get a nice farm on a river.
corruptionmaxxing, nice
post 1704377621 07-30-2024, 10:47 PM
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you could just work a part-time job making like 20k or so year and take the rest from your investments of the 800k (30k a year), so thats like 50k a year
L.A. LAKERS
post 1704377711 07-30-2024, 10:50 PM
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I feel poor, I need at least 5 million to retire.
When it comes your time to die, be not like those whose hearts are filled with the fear of death, so that when their time comes they weep and pray for a little more time to live their lives over again in a different way. Sing your death song and die like a hero going home.
post 1704377881 07-30-2024, 10:56 PM
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I’d be out as fuk. Pay off mortgage and then just rot
post 1704379901 07-31-2024, 12:38 AM
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I’d buy a cheap house to live in then one or 2 nice houses in tourist destinations for short term rentals and live off the money I make renting them out.
post 1704379981 07-31-2024, 12:48 AM
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I would invest in real estate with the BRRRR method, I might also do AirBnb. And I would do other side hustles like flipping exotic cars and watches. I might also start a business like some type of bar and grill or tavern, but it depends how my other side hustles go.
post 1704380091 07-31-2024, 12:53 AM
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Originally Posted By eddiehaskell⏩
Let's say you have $1,000,000 sitting in an account.

You could buy a house/condo in a relatively low COL area for like $200k.

You then have $800,000 left over and let's say you could invest it at a very safe return of 6.5%/year.

Your income is now $52,000/year and rent/mortgage $0.

Would you NEET/retire for as long as it takes you to get motivated to do something work related?

Would you consider traveling abroad to even lower COL areas where you could live well on little money?

Time is our most valuable asset -- can't buy it back and it's gone in the blink of an eye.
Your math is wrong. You can't withdraw 6.2%. The actual math works out to about a 3.5-4% safe withdraw rate, that should last 30-infinite hears in most scenarios. Drawing 6.2% you'd reach $0 before you die a lot of the time.


So your income after tax would be more like $40k/year

2 milski and you could consider it. Unemployed health insurance alone is like $4k, things are expensive.
post 1704386741 07-31-2024, 07:02 AM
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Originally Posted By eddiehaskell⏩
bingo. you need $3m for a kid...i mean $6m...better make it $8m. wanna retire? $7m...no $12m...but with inflation better make it $17m.

99% of people never get to these numbers but keep working their lives away.
Well.....uhhh if your goal was $3M then you upped it to 6, then 8 etc.....that would mean you hit said goal and have a new goal. So yes....those people have that number and want to continue to go.
I work because I like what I do and the money is still good. Its about opportunity to that money in exchange for the time. If it gets to be so time consuming on the regular that it impedes with my lifestly.....then I will stop. But I dont think I will ever just sit around and go to the beach every day. That would get old ..... for me.
post 1704392321 07-31-2024, 09:32 AM
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Originally Posted By MuscularButtox⏩
Your math is wrong. You can't withdraw 6.2%. The actual math works out to about a 3.5-4% safe withdraw rate, that should last 30-infinite hears in most scenarios. Drawing 6.2% you'd reach $0 before you die a lot of the time.


So your income after tax would be more like $40k/year

2 milski and you could consider it. Unemployed health insurance alone is like $4k, things are expensive.
YOU ARENT WITHDRAWING FROM THE $800,000. Stop with all that "safe withdrawal rate BS".
post 1704392731 07-31-2024, 09:38 AM
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Originally Posted By donblaximus⏩
Well.....uhhh if your goal was $3M then you upped it to 6, then 8 etc.....that would mean you hit said goal and have a new goal. So yes....those people have that number and want to continue to go.
I work because I like what I do and the money is still good. Its about opportunity to that money in exchange for the time. If it gets to be so time consuming on the regular that it impedes with my lifestly.....then I will stop. But I dont think I will ever just sit around and go to the beach every day. That would get old ..... for me.
a job is the most time consuming thing in people's lives. from about age 4 until you're put out to pasture you are expected to fill some sort of j-o-b with 80% of your waking life revolving around it. but yeah, you either love it or you just try to push through it until you're elderly.
post 1704393201 07-31-2024, 09:48 AM
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Originally Posted By AnaboLecter⏩
Yep, I'd move to Thailand and live like a king
Ladyboys?
post 1704393441 07-31-2024, 09:54 AM
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#75
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I think a more interesting question would be, how much money would you need to NEET for life

1M isn't enough. 4% rule = 40k per year, too little

I'd consider 2M, but with the caveat that if there's a bad streak in the stock market I may have to get a bullchit part time job for a bit
Originally Posted By eddiehaskell⏩
YOU ARENT WITHDRAWING FROM THE $800,000. Stop with all that "safe withdrawal rate BS".
You don't know what you are talking about, you should listen to those miscers
Best lifts:
Bench press: 315x5
Squat: 465x1
Strict press: 205x5
Deadlift: 405x13 (conv tap'n'go with straps)
post 1704393641 07-31-2024, 09:59 AM
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#76
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Originally Posted By SaviorSelfJT⏩
I think a more interesting question would be, how much money would you need to NEET for life

1M isn't enough. 4% rule = 40k per year, too little

I'd consider 2M, but with the caveat that if there's a bad streak in the stock market I may have to get a bullchit part time job for a bit



You don't know what you are talking about, you should listen to those miscers
look -- i get it..."safe withdrawal rate" is one of those things people talk about to sound well read about finances online. lol

but i'll repeat -- YOU ARE NOT WITHDRAWING DOWN THE $800,000. YOU ARE ACTUALLY ADDING TO IT.
post 1704393701 07-31-2024, 10:01 AM
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#77
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Originally Posted By eddiehaskell⏩
a job is the most time consuming thing in people's lives. from about age 4 until you're put out to pasture you are expected to fill some sort of j-o-b with 80% of your waking life revolving around it. but yeah, you either love it or you just try to push through it until you're elderly.
If you were offered a job in which they paid you $500 an hour and you could work part time. Would you do it?
post 1704393801 07-31-2024, 10:04 AM
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#78
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Originally Posted By donblaximus⏩
If you were offered a job in which they paid you $500 an hour and you could work part time. Would you do it?
i'd probably consider it
post 1704394031 07-31-2024, 10:08 AM
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#79
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Originally Posted By eddiehaskell⏩
i'd probably consider it
Well there you go.....thats why some people still work when they dont have to. Its not always about "the man" forcing people into labor.
post 1704394131 07-31-2024, 10:13 AM
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Originally Posted By donblaximus⏩
Well there you go.....thats why some people still work when they dont have to. It's not always about "the man" forcing people into labor.
well, i'd also have to know about the job...if it means i have to fight, claw and suffer for 30 years getting to it...while also hating life while working the job -- i'm good. you only have so much time and you can NEVER buy it back.
post 1704394501 07-31-2024, 10:23 AM
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Originally Posted By elterrible987⏩
Id move to Thailand live in a mansion and bang hot lady boys
and vice versa?
post 1704395811 07-31-2024, 10:52 AM
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Originally Posted By MikeLowrrrey⏩
$1,000,000 wouldn't be enough for me, but it would put me about 15 years ahead. From what I've read, money stacks up real quick once you hit $1,000,000

I'd honestly keep working while letting the $1,000,000 collect interest. Can someone run the numbers on investing or the interest $1,000,000 adds up to in 10 years?
$1,000,000 invested in VFIAX (Vanguard S&P 500 index fund)could be worth $2.18 million in 10 years.
A democracy is two wolves and a lamb voting on what to have for lunch. And that's why the USA is a constitutional republic and not a democracy.
post 1704396351 07-31-2024, 11:05 AM
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Originally Posted By eddiehaskell⏩
YOU ARENT WITHDRAWING FROM THE $800,000. Stop with all that "safe withdrawal rate BS".
Lol, "safe withdrawal rate" means the amount that keeps you from running out of money.
A democracy is two wolves and a lamb voting on what to have for lunch. And that's why the USA is a constitutional republic and not a democracy.
post 1704398121 07-31-2024, 11:45 AM
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Originally Posted By eddiehaskell⏩
well, i'd also have to know about the job...if it means i have to fight, claw and suffer for 30 years getting to it...while also hating life while working the job -- i'm good. you only have so much time and you can NEVER buy it back.
Well to be offered that sort of money more than likely you are an expert in the field but in the real real world you are the business owner who is operating fairly hands off and only working on the parts that you like to work on while paying others to handle the parts that are not the parts you want to work on.
post 1704398331 07-31-2024, 11:48 AM
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Would $1M be cool AF.....hell yea, but I wouldn't even quit my job.....hell, I wouldn't even pay off my mortgage (2.58%) or buy a new vehicle (paid off). Friends/family wouldn't even know I had it.

I would invest it, maybe buy a couple rentals and work for another 10-15 years, knowing I was just more financially stable than I am now.

Probably take $100k and swing/day trade with it for more "play" money....but other than that, my day to day would be absolutely no different.
post 1704405471 07-31-2024, 02:43 PM
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Originally Posted By bsmit107⏩
Would $1M be cool AF.....hell yea, but I wouldn't even quit my job.....hell, I wouldn't even pay off my mortgage (2.58%) or buy a new vehicle (paid off). Friends/family wouldn't even know I had it.

I would invest it, maybe buy a couple rentals and work for another 10-15 years, knowing I was just more financially stable than I am now.

Probably take $100k and swing/day trade with it for more "play" money....but other than that, my day to day would be absolutely no different.
yeah, investing in rentals wouldn't be a bad way to go. around here a $200k property will gross about $1500 in rent.

with $1M you could:

- buy a home for yourself at $200k
- buy two rentals ($200k x 2)
- $200k into mutual funds for future growth
- $150k in a cd or other fixed interest income
- $50k emergency fund in high interest checking account
post 1704406651 07-31-2024, 03:13 PM
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Originally Posted By eddiehaskell⏩
yeah, investing in rentals wouldn't be a bad way to go. around here a $200k property will gross about $1500 in rent.

with $1M you could:

- buy a home for yourself at $200k
- buy two rentals ($200k x 2)
- $200k into mutual funds for future growth
- $150k in a cd or other fixed interest income
- $50k emergency fund in high interest checking account
200K place can really command 1500 in rent?
post 1704408771 07-31-2024, 03:54 PM
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Originally Posted By 6gorillion⏩
200K place can really command 1500 in rent?
yes...that's actually not near as good as when i got into rentals though...back then you didn't look at anything that couldn't meet the 1% rule or better...for example $150k house should rent for $1500. my first rental property was $42k and i rented it for $650....now it rents for about $1400. i've put maybe $10k into repairs over the years
post 1704409831 07-31-2024, 04:20 PM
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Originally Posted By longfellowdeeds⏩
you could just work a part-time job making like 20k or so year and take the rest from your investments of the 800k (30k a year), so thats like 50k a year
true. a viable option if you run into possibly tapping into your capital. get a part time job you enjoy and just work a few days per week.
post 1704411321 07-31-2024, 04:55 PM
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1m isnt nearly enough these days.
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