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RE: Why One Million Dollars is NOT Enough
- Buy a modest 200K house with 1 acre at least. (cash)
- Begin growing many fruit trees and have an enormous garden.
- Put away 100K in precious metals for when the manipulation stops.
- Buy 100K in cryptos, just to speculate.
- Buy you and your wife nice 30K cars if you'd like.
- Invest in rental properties to have easy monthly flow of income.
- Put your kids through government schools (yuck) if you want to.
- Have 100K aside in a CD
- Have the rest in your bank account to buy food, etc.
- If your bank goes insolvent, you don't care, your house is paid for and you are growing your own food.
That's what I would do.
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Word. Can't live off a million? Pffft
Hand one of yours over Grant and I'll test the theory? 🤑
Lol as long as you don't get crazy about it, it's doable. Especially if you decide to become an expat and live in another country. Jesus, $1 million in Thailand and you could live like a king for two lifetimes.
Dude I'm with you all the way! If you can't invest a portion of that to give you 20/30k a year and spend some on bricks, in my opinion, you've done it wrong to say the least!
depends on what type of lifestyle you want to live. Not everyone wants to go a 3rd world country where cost of living is ridiculously low. Some people do want the more expensive things in life. Like a really nice car, a house with a view of the sea or lake and the ability to go on vacations around the world. Even the most optimistic bond paying 6 to 7% will only yield 70k a year and that is not counting taxes.
In my opinion better to strive to make 1 million a year than settle down and be comfortable with 1 million in the bank.