$2,000,000

[JenTay]

If you had that amount saved up, would you quit your job?

I mean, invested for income at 4% gives you a respectable $80k pretax. Also assuming that the principal will be untouched and the $80k will be adjusted upwards for inflation annually.

OR would you feel guilty by 'wasting' your college training (or whatever) for your respective field?

It's a tough question I think. I think I would get bored after a couple of months just doing leisure activities.

[el presidente]

Originally Posted by JenTay

If you had that amount saved up, would you quit your job?

I mean, invested for income at 4% gives you a respectable $80k pretax. Also assuming that the principal will be untouched and the $80k will be adjusted upwards for inflation annually.

OR would you feel guilty by 'wasting' your college training (or whatever) for your respective field?

It's a tough question I think. I think I would get bored after a couple of months just doing leisure activities.

Depends on how long it needs to last. Things like health insurance, income taxes (AMT anyone?), property taxes, charitable giving and general living expenses continue to rise. Wouldn't you want to travel and enjoy things a little more with all the free time you'd have?

80K pre-tax isn't enough without an additional pension or SSI.

[JenTay]

Originally Posted by el presidente

Depends on how long it needs to last. Things like health insurance, income taxes (AMT anyone?), property taxes, charitable giving and general living expenses continue to rise. Wouldn't you want to travel and enjoy things a little more with all the free time you'd have?

80K pre-tax isn't enough without an additional pension or SSI.

there's the rub. health insurance.

everything else on your list is controllable by me. 80k is below the amt threshold. property tax- i could rent, charitable giving-red cross will have to do without, general living expenses- i could move to a cheaper place to live.

the bigger problem i think would be boredom. plus, you lose the legitimacy of complaining about having to go to work. i'm strange, i know.

[el presidente]

You could always use the cash to pay for living expenses while going back to school, funding a small business or changing careers....use the opportunity to make some very positive changes (and yes, even new challenges).

[t walgamuth]

first you take a million.......











tom w

[GottaDiesel]

You're 4% is way off...

At worse, you could do 5.05% with an HSBC or other direct savings outfit... So now you're $ per year is way up.

$2 million, fully liquid -- I wouldn't stop doing what I do for a living, but I would only mfg. the things that make the best profits and kill all the lower-end items.

You can do a crap-load with $2M... first thing I would do is look at a nice commercial building to rent. That should get you closer to 9-10% PLUS appreciate, PLUS create tax benefits...

But that's just me.

[JenTay]

Originally Posted by GottaDiesel

You're 4% is way off...

At worse, you could do 5.05% with an HSBC or other direct savings outfit... So now you're $ per year is way up.

$2 million, fully liquid -- I wouldn't stop doing what I do for a living, but I would only mfg. the things that make the best profits and kill all the lower-end items.

You can do a crap-load with $2M... first thing I would do is look at a nice commercial building to rent. That should get you closer to 9-10% PLUS appreciate, PLUS create tax benefits...

But that's just me.

i could never be slumlord. you are going the other way on me. i want to simplify, not create more hassles.

[kerry]

A fair amount of my work is pretty satisfying so I'd have a hard time giving it up. I have enough time in my retirement system to retire but I don't want to because I think I would miss the satisfaction I get from work.

Slumlording is not that big of a hassle.

[aklim]

2 mil, no. 10 mil, yes.

[Hatterasguy]

I would not accept anything less then a 10% return on a sum of that size. Heck what are bonds these days? Can't get much more secure then that, I'd accept a lower return on those.


With $2m properly done you can take control of a lot of real estate. Like that $50m, 1,200 unit apartment complex that was for sale on Loopnet a few months back. With $2m and a bit of skill I bet it could be purchased, provided they let you assume the 42M note already on it. According to them you would net just a tick over $1m per year from cash flow. Of course if you buy right that would adjust for inflation etc. $1m a year is a heck of a nice income to have, just imagin what you can do....

I would look for a medium size income producing property, like the one mentioned above.

Slum lord? Only if you buy cheap, buy the most expensive apartments in town if you want.

I wouldn't quit my job, but I would work because I wanted to, not because I have to. Their is a big difference.

[Kuan]

$2 million is enough leverage to buy you 2-3 nice hotels with revenue of 4-5 million a year.

Hattie: Lemme tell you when I tried to buy some small potatoes investment apartments. We could get a loan no problem, trouble is everyone else plunks down cash. Is there a way around that?

[Medmech]

2 million will become 1 after taxes so invest wisely and don't spend any part of your core 1 million and find a to live on $50,000 a year------- whoops make that 35,000 after taxes.

lots of ands.

[Hatterasguy]

Originally Posted by kookookachoo

2 million will become 1 after taxes so invest wisely and don't spend any part of your core 1 million and find a to live on $50,000 a year------- whoops make that 35,000 after taxes.

lots of ands.

Well hang on here, she said $2m cash on hand.


It would be fun to put about $100k into a breif case and go and buy an S550. Pick out the car, the sales guy is like so how do you plan on financing it, we can offer you some good terms. I'd open the brief case and be like, I think I'll just pay cash.

[aklim]

Originally Posted by Hatterasguy

Well hang on here, she said $2m cash on hand.


It would be fun to put about $100k into a breif case and go and buy an S550. Pick out the car, the sales guy is like so how do you plan on financing it, we can offer you some good terms. I'd open the brief case and be like, I think I'll just pay cash.

You don't want to do that. It would trip a trigger somewhere just as surely as you walk into a bank to deposit the $2 mil. Over a certain sum in cash, they have to report it. In fact, if you even ask what the figure is, they have to report it.

[t walgamuth]

2 mil?

no.

why not?

a million won't buy what it used to.

tom w