empiremaker2 is playing 2-4 nl right now

[greg nice]

inflation is so rampant that it wont take 50 years to half the value of the money

[john voight]

wow. 2 mill?

I live in bay area cali, and could easily retire off of 1 million.

That is, support myself, as well as a wife and maybe 3 kids in future.

IDK what you guys do w/ money though, so who knows.

[Dire]

Just a quick naive question. It's not difficult to earn 5% anually on a smaller amount of money. Does this become a major issue with large amounts of money? 5% on 2mil would be 100k a year - more than the vast majority of people make, or will ever make during their lives.

What am I missing?

[gambler2k4]

i'm going to retire and live in a box.

[dDiabolical]

5% interest is easy to come by, for larger amounts of money (like $2m) you can negotiate even higher.

$2m is easily enough to live off for the rest of your life.

[Stinger88]

I'm fairly confident I could retire with what I have now if I so chose (~1 million invested earning nice interest). However I just think that no matter how great a work-free life sounds on the surface, it would get boring after a while. Sure, traveling would help but I still don't see it being very fulfilling.

[EmpireMaker2]

Made 20k at 3-6 the past 2 days....Booya

[otnemem]

[ QUOTE ]
wow. 2 mill?

I live in bay area cali, and could easily retire off of 1 million.

That is, support myself, as well as a wife and maybe 3 kids in future.

IDK what you guys do w/ money though, so who knows.

[/ QUOTE ]
I don't know much about the bay area. I'd assume that, like a lot of the nice areas of cali, real estate is ridiculously expensive, and there's no way you could retire at 20 on 1 mil.

[Jon1000]

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Sure, there could be problems, and you need to be smart and flexible, but it's simply not the case many people can't get through life on $2 million.

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Especially when you consider that most people don't earn $2 million when working their entire lives.

[/ QUOTE ]
That's not true. The median income in the US is around $45k. That's somewhere around 45 years work to earn $2 million. If you start work at 20 and retire at 65...

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this is one of those instances in which a mode is better to get a true average american income than a median because the top earners skew the median so much. so while i know 45k is probably a little more than what most people make, im not sure how much more.

[pizarro1]

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Made 20k at 3-6 the past 2 days....Booya

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But how much did you lose at 2-4?

Joke, pretty amazing result to win that many buyins.