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If you want to travel a lot -- either because you like traveling, or because you want to meet many interesting people over the world -- you will need to pay for
by Viliam1234 6y ago
If you want to travel a lot -- either because you like traveling, or because you want to meet many interesting people over the world -- you will need to pay for hotels. In some places it could be like $100 a night. So if you have $100,000 a year, a third of that budget would already go to hotels. Okay, sounds doable.
The next life-improving expense would be to hire a personal assistant. Someone who would e.g. book the hotels and the airplane, so that I don't even have to think about the boring technicalities. With kids, I would probably also want a babysitter. And both of them need a room in that hotel, too. Seems like I have already exceeded the $100,000 a year. But maybe $200,000 or $300,000 would do.
Okay, I admit that at this point I am mostly out of ideas. I imagine I could use more than one personal assistant, e.g. one to take care about my everyday life (things I don't want to think about), and another to help me with my projects (things I want to think about, but prefer if someone else does the difficult research). More generally, in some situations being able to pay people to do stuff for me could save me time.
Above cca $500,000 a year I don't really have good ideas.
- vmception 6y agoIt's a fun exercise, my Amex Platinum concierge has been good enough in doing organizing for me, presenting me options for hard to get arrangements. Both airline and hotels were mostly free using points and status. I would only be booking for myself and only maybe a companion as the reality is that I have likely another companion in the destination. No kids, by design. The luxury wore off pretty quick and hostels were inherently more social, so the fixed dollar cost again dropped by an order of magnitude, with decompressing - and the improved possibility of privacy with a companion I may have met earlier in the week - happening at hotels on the weekend. This is the first year that $10mm in a 30 year bond would only yield $133,000. Last year the record low rates would yield $300,000. I would probably speculate with some of it, hoping for a 10-bagger or 20-bagger. If not, oh well, wait for the next coupon!
- sjtindell 6y agoWhere are you seeing this number of a 30% return ($300,000) on bonds?