When we all cash out and have $1,000,000 USD left after taxes, how do we make that last the rest of our lives?
Let's assume you use 200k of that to buy a house and a car.
How can you make 800k last the rest of your life without living like a poor person. Let's say around 60 years?
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>How can you make 800k last the rest of your life without living like a poor person.
By going back into crypto.
Move to country with lower costs of living. Plenty of places where you can live rest of your life like king for 800k usd
>only cashing out at 1m
why
1 million is not a lot of money these days
he thinks a million dollars over the course of a lifetime is not living like a poor person
The idea is to always spend less then what you make. Stop spending endlessly and conserve your money. Nobody stays wealthy by living above your means. Ever
>Live poor stay rich
> pink
> it's yellow
huh? keep dreaming
people keep telling themselves this to fantasize about an offshore retirement
>taxes
never making it
Be careful with this mentality. You'll probably just end up being poor, since you're so accustomed to compromise.
u wot m8
if you DON'T stop spending endlessly, you will definitely end up being poor.
Put money in investments safer than crypto. You only need 5 percent gains on that mil per year to be making 50k. Work doing something you like ontop of that, and even if you hardly make anything (say 20k a year) You're already doing alright.
If you have $800K and you have it generating an average annual yield of 7%, you can safely withdraw 4% per year ($32,000) to live off of. That's $32K in entirely passive income, which leaves you with plenty of free time to have part-time job, a full-time job, start a business, do side gigs for spending money, etc.
I'm 24 and if I continue to hit all of my goals, I'll be retiring by age 30 with $400K. This is only about $16K/year to live off of, but I'm very minimalist and it should be plenty.
Basically, if you multiply your annual cost of living by 25, that's how much you need to "retire" and never work again.
Just don't buy a 3 million boat when you have only have a million.
say it with me: bond ladder
or TIPS linked to inflation
basically know the difference between principal and income
or consider living in southeast asia for a few years so that 800K can grow unmolested
Crypto is better money than fiat. the whole point is that you won't need to cash out in the future! Just spend crypto to buy stuff.
1 mil - 30% taxes = 700k
A house costs about 800k - 1,5 mil where I live in Europe.
It won't be enough at all.
1 mil is a joke...
I need more like 2,5 - 3 mil to buy a house + 3-4 apartments for renting. Then I can be carefree and stop working...
lol, $1 million is fucking nothing OP. That's still poor.
Once you take a plane to a big ass city like New York or London you'll start seeing a whole new ballpark of things that you would desire and $1 million will start seeming like chump change.
(not that I have any money, i'm a poorfag).
I only need to get to 100k
Saving up 100k for down payment of condo in DC. Got job lined up for 80k+ there when I pull the trigger, which covers mortgage and expenses, and have no debt. Do I make the gf pay for rent is the real question.
>house
>800k
Lmao, what a fucking retard
1 million is enough to live for 10 years at 100K or, if you stretch it, 20 years at 50K without working.
With the 10 year plan you live in moderate luruxy but have to acclimate quickly because 10 years can fly by quick.
The 20 year plan is essentially a comfy life. You can work a weekend warrior or something simple or less viable like youtube videos to maximize your profits per year to keep your wealth going but you life as comfy and happy as possible
Dude congrats but work a few more years. Inflation is a bitch.
>1 million USD
>live 10-20 years
GO TAKE IN YOU BUTTHOLES, FIRST WORLDERS!
With 1 million usd i can give a great life for me and 3 generations more.
>house 50k
>a great house 100k-150k
>a car 50k
>minimun wage (270 usd)
THIS!
You have absolutely no idea how much money 800k usd is in Brazil.
Just to give you an idea, the minimun wage here is about 270 usd per month!
> keep living as I am, spending $35-40k per year
> the 4% rule, which has had 95% success over the last 120 years, will carry me forever
> not even including the extra income from hobbies, freelance, etc
Also to you idiots claiming this is nothing, even offshore, I'm living very comfortably is a major (not big five) US city with this much money. Learn to cook, ride your bike, make memories instead of buying crazy shit. And in perfectly livable parts of the world I could be doing this for 10-15% the cost.
Yeah, I could use a cool mil.
I don't even have money.
How the fuck do I even start? Been lurking here for a few days but I can't understand shit. Just fucking help me god damnit
Ask one dollar in crypto for Anons and start trading this dollar until you have 1kk.
post an address and see if any generous anons will give you a small morsel
But who the fuck would want to live among a bunch of inbred retards in some nowhere flyover state? I'm not a double digit iq subhuman.
So I just post my email address and then? What's a crypto?
I feel like a fucking idiot so please no hate
Enjoy being poor and miserable forevee with that retarded attitude.
>paying taxes on crypto
>buy a smaller condo near public transit for Dont buy a car
>Buy $100,000 of DX stock. Pays 12% dividends so you will get a quarterly payment of $3,000 - enough to cover your food expenses easily and have some entertainment money. also, likely to avg 5% growth over the next 10 years.
>Buy 100,000 of LAND stock. Pays ~7% dividend, but will likely appreciate by 20-30% over the next 18 months. also - $600/month cash payment
>$125,000 in StreetShares account. Pays ~5% interest. only touch this when you need to.
>leaves you $475,000
>10% tax preferenced bonds ETF
>10%High Yield (junk) bond ETF
> 15% diversified energy ETF
> 20% developing country ETF
> 10% World wide stock value ETF
> 15% world growth ETF
> 20% high yield US ETF
specially in the US, with xtreme healthcare costs, you never know
it's good that you will have financial independence, but it's better if you're sure you can be like that forever.
400K is a bit on the low side
why arent you factoring in any earnings or appreciation of assets in your scenerios
[email protected] i am a poorfag but looking to lurk and get started. What crypto will anyone gift me and how to trade up
Its clearly green
>coinmarketcap.com
best site for tracking coin prices
>coinbase.com
where you buy bitcoins with usd or other fiat from your bank account
>what exchange should I use
They're all shit, it comes down to personal preference
>What coins should I invest in
If you want free money divide your investment amongst Siacoin, NXT, and Steemit
t. low iq subhuman
You obviously should. Unless she pays for food and other expenses.
I recently started this whole cryptocurrency trading gig and I find myself staring at market charts the whole day. Now I'm a fucking neet with a lot of hobbies to do but holy shit I think I'm slowly sliding down the rabbit hole into day trading, I only ment to buy a few coins and hold it long term. Jesus christ Veeky Forums what did I get myself into.
HAH 1 million dollars is nothing today..oh wait i'm a poorfag that's losing money in crypto