7 ms·
If you live in a modern 1st world country and have a family, at least 1 child or some old relatives and at least minimal ambition to eat good food and have okay
by aristofun 9mo ago
If you live in a modern 1st world country and have a family, at least 1 child or some old relatives and at least minimal ambition to eat good food and have okay level of life - 10M is not much at all.
It’ll get you okayish to allright property (depending on the region), will cover all basic expenses and (if you don’t have anyone with serious illness or financial problems) some non basic ones. For up to 10 years max.
Then what?
If you want to hear people’s passions I suggest using vague “F U money” term instead of a pretty small specific number.
- teom 9mo agoThis makes no sense. By this logic, anyone spending less than 1M per year only has an "okayish" lifestyle.
- aristofun 9mo agoDo you have a family? How many?
- jpollock 9mo ago10 million earning 4% is 400k per year. That's a good bay area salary.
- aristofun 9mo agoRead my whole message carefully. 1 bay area salary is nothing special if you live in bay area and support _family_
- bob001 9mo agoI mean, $10m comes out to $400k in year at the 4% rule which is top 2-3% income in the US. And top 1% in Europe. I guess being in the top 1% is barely scraping by nowadays.
- podarize 9mo ago[dead]
- deleted 9mo ago[deleted]
- queenkjuul 9mo agoAbsolutely ridiculous. $1M/year is TEN TIMES what i spend for a gorgeous apartment and all the entertainment and food i can manage in Chicago. I could last 100 years on $10M. Well, maybe 80 when you factor healthcare :)
- aristofun 9mo agoDo you have a family? How many people do you support?
- queenkjuul 9mo agoJust me. But my 4% APY savings account would net me 400,000/yr on $10M, so 4x what i make now; my hypothetical family would also be fine for 100 years
- aristofun 9mo agoIf you carefully read my message and all the conditions you’ll see that 400 will melt faster than you think. Also it will be closer to 200-300 because you spent part of the sum to buy a house.
- queenkjuul 9mo agoI could raise a kid in my apartment, plenty of room. My parents raised 4 kids on less than i make, even adjusted for inflation. My friends with kids are not making 400k/yr and doing just fine.
- aristofun 9mo agoThis is why my remarks about "where you live" and "ambition"