Could you live on $2mil for the rest of your life? - Think about it

Could you live on $2mil for the rest of your life? - Think about it - Printable Version

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- Ronin - 10-25-2002

Ok, I posed this question to a couple of my coworkers and i had some mixed reactions. Here it goes.

Lets say, right now, you received $2 million dollars and ordered to quit your job. Could you live the rest of your life just on the $2 million dollars?
Rules:
1) It could not influence your life at all. In other words, if you had your heart set on living in NJ for the rest of your life, then you would have to do that. If you planned on getting married and having 6 children, you would still have to do it. The thing is that it could not effect the way you live right now or the way you planned on living. If you had the dream of opening your own store, that would be fine, because the $2 million didn't influence you to open the store.
2) You would not to be able to work again though, unless you planned something special before receiving the money.
3) You could not invest the money unless it is just in an interest bearing account at a bank.
4) The money is NOT taxed.
5) This would include children's weddings, colleges, your mortgage(s), your vacations, your cars, medical conditions, master's degree(s), etc.. Remember, if you planned on living in NYC, then that's more than living in East Conn.
6) Remember, it is you receiving the money. if you are married, you and your wife count as one person, so your wife would have to quit work. but if you get married after receiving the money, she could continue to work.
7) This is providing that you don't have to leave anything to your children after your death.

I think these were all the rules we came up with.

I think I could do it. What do you guys think? If you can't, how much could you think you could live on?

- Goatweed - 10-25-2002

Two million? Bah....that's chump change ;-)

- nerdo5 - 10-25-2002

no. by the time i have kids, 2 million dollars would be three semester's worth of tuition. of course the whole wife still having to work thing is quite intriguing. i need to find a sugar mama. then i could.

- Maynard - 10-25-2002

I could do it if I wanted to. But I hope to earn a bit more than that in my lifetime. It would be fun to try though.

- Arthur Dent - 10-25-2002

$2 million invested wisely with a 10% annual return will give you $200,000 a year without deducting from the original $2 million. That, I could definitely live off of.

- nerdo5 - 10-25-2002

ronin, do you have 2 mil i could practice on before i commit?

- crx girl - 10-25-2002

well, i've been planning to go back to school then i wanted to own my own bar, so could i use the 2 mill for that, because then yes, i think i could...

- The Sleeper - 10-25-2002

too many rules

- Ronin - 10-25-2002

Quote:$2 million invested wisely with a 10% annual return will give you $200,000 a year without deducting from the original $2 million.

Remember you can't invest it unless it's in a bank.

The point of the thing is could you live comfortably for the rest of your life, without any influence, with just $2 million dollars?

Yeah, i have the $2 million right here.. here you go:
[Image: left2.gif]

Edited By Ronin on 1035578686

- Maynard - 10-25-2002

Question.....

were you and your friends :fuggin: when you came up with this?

- Spitfire - 10-25-2002

Yes!

I could definitely live somewhere remote, like in Maine or BC comfortably on $2 mill, subsidizing my cash with a green crop :fuggin:

- Ronin - 10-25-2002

it was just my brother and i talking about the lottery. because you hear that alot of the lottery winners go bankrupt because they spend all the money.
so we were talking about it. so we cut out the influence factor and the excessive about money. and we both agreed that $2mil would be enough to live on. $1 million is just too low.

- Arthur Dent - 10-25-2002

Quote:Remember you can't invest it unless it's in a bank.

4% Savings Account will give you $80,000 a year, and I KNOW I can live off of that. :thumbs-up:

- Ronin - 10-25-2002

Quote:I could definitely live somewhere remote, like in Maine or BC comfortably on $2 mill, subsidizing my cash with a green crop

But were you planning on doing that BEFORE receiving the money?

- Spitfire - 10-25-2002

Yes. I don't like people.

- Galt - 10-25-2002

Absolutely I could. I could put in $2,000,000 at 5% and take out $80k for life. By the time I'm old, it won't amount to anything, but I'm single, so when I get married, the bitch can work, and I can live off $80k TAX FREE which is like making $110k + what she earns.

No question. I could do it. But I don't think I would since it would cap my earnings and I actually enjoy working sometimes.

For you to get (present value) tax free $2 million assuming a 28% tax rate. Over the course of the next 50 years it would equal making an average of $55,555. And that doesn't take into account inflation, which would make the money even more attractive.

- diceisgod - 10-25-2002

Quote:Could you live the rest of your life just on the $2 million dollars?

If I had 2 million the rest of my life would probably be very short but fun as Hell.

- OAS - 10-25-2002

Well, with what little life I have left, that is one Hell of a lot of pussy. So I could rough it and make ends meet.

- Sweet Angel - 10-25-2002

I'm pretty sure I could do it, but it would be tough to know it's just sitting there and not be able to spend it.

- 2 tired 2 give N F - 10-26-2002

I don't think I could...$2M isn't that much when you're buying houses and educations and things...