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#21
08-14-2006, 05:36 PM
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Re: $6M Gross - What Do You Do
3.5 million? I take 500k, and blow it (100k car, dp on a big house, hookers, and blow) I put 3 million in an account getting 5% interest, use that 130k to pay bills, etc, per year. I could probably get by on 100k, and put 30k back into the principle, and start looking for a job I really really want to do.
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#22
08-14-2006, 05:36 PM
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Re: $6M Gross - What Do You Do
[ QUOTE ]
[ QUOTE ] A modest return of 6% on $6M would be $360k/annum. I.e., don't get funky, just invest and live fine off the juice for the rest of your life. [/ QUOTE ] I agree. Fwiw, you can lock in 5.11% for the next 30 years with a US Treasury Bond. [/ QUOTE ] Yes - but would you do that? There's the personal utility / pleasure issue that this money affords - perhaps my OP was misleading when I said "optimal". I guess I mean what you would do with the money. [ QUOTE ] WTF IS GOING ON AROUND HERE PEOPLE?!?!?!?!?! H O O K E R S A N D B L O W I sware, some days it seems like I have to do everything around this place! [/ QUOTE ] Exactly [img]/images/graemlins/grin.gif[/img] -Al
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#23
08-14-2006, 05:37 PM
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Re: $6M Gross - What Do You Do
[ QUOTE ]
[ QUOTE ] [ QUOTE ] Leave LA for someplace with a far lower cost of living, invest the lump and cruise off of interest. Is the $6M before or after taxes? A modest return of 6% on $6M would be $360k/annum. I.e., don't get funky, just invest and live fine off the juice for the rest of your life. [/ QUOTE ] Exactly. $360K a year is more than enough for two people to live in a comfortable manner in a non-urban environment. [/ QUOTE ] Don't forget the tax burden. They're looking at about $3.5M in after-tax money. [/ QUOTE ] OK. $200K a year is more than enough for two people to live in a comfortable manner in a non-urban environment.
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#24
08-14-2006, 05:38 PM
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Re: $6M Gross - What Do You Do
[ QUOTE ]
I live in LA and am married. I'm bound to LA for the immediate future for family reasons. Figuring $3.5 - $4 million after taxes, I buy a nice house in the Oaks for cash, invest 3/4 of what's left, and keep the remainder ($100,000 or so) for fun money. Then it's back to work. [/ QUOTE ] You'd buy a home cash? With ~ 6% interest rates? I understand that people want to feel 'secure' and not have to worry about their home, but that's just a terrible investment idea. Given 3.5 million after taxes, I would: Put about 1.5 million in something steady that can yield me around $100k (6-7%) for use in everyday living Invest 1.5 million in a mix of mutual funds. Play with 500k (vacations, a nice car, summer home)
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#25
08-14-2006, 05:39 PM
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Re: $6M Gross - What Do You Do
[ QUOTE ]
I live in LA and am married. I'm bound to LA for the immediate future for family reasons. Figuring $3.5 - $4 million after taxes, I buy a nice house in the Oaks for cash, invest 3/4 of what's left, and keep the remainder ($100,000 or so) for fun money. Then it's back to work. [/ QUOTE ] This line is similar to the one taken by alot of my friends (who don't want to leave LA), which, of course, doesn't really leave you with enough to retire on. -Al
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#27
08-14-2006, 05:39 PM
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Re: $6M Gross - What Do You Do
[ QUOTE ]
[ QUOTE ] [ QUOTE ] [ QUOTE ] Leave LA for someplace with a far lower cost of living, invest the lump and cruise off of interest. Is the $6M before or after taxes? A modest return of 6% on $6M would be $360k/annum. I.e., don't get funky, just invest and live fine off the juice for the rest of your life. [/ QUOTE ] Exactly. $360K a year is more than enough for two people to live in a comfortable manner in a non-urban environment. [/ QUOTE ] Don't forget the tax burden. They're looking at about $3.5M in after-tax money. [/ QUOTE ] OK. $200K a year is more than enough for two people to live in a comfortable manner in a non-urban environment. [/ QUOTE ] but what if you want to live in an urban environment?
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#28
08-14-2006, 05:40 PM
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Re: $6M Gross - What Do You Do
[ QUOTE ]
I buy a nice house in the Oaks for cash [/ QUOTE ] boooooooo use other peoples money
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#30
08-14-2006, 05:40 PM
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Re: $6M Gross - What Do You Do
[ QUOTE ]
[ QUOTE ] I live in LA and am married. I'm bound to LA for the immediate future for family reasons. Figuring $3.5 - $4 million after taxes, I buy a nice house in the Oaks for cash, invest 3/4 of what's left, and keep the remainder ($100,000 or so) for fun money. Then it's back to work. [/ QUOTE ] This was the line alot of my friends (who don't want to leave LA) took, which, of course, doesn't really leave you with enough to retire on. -Al [/ QUOTE ] Your friends need to pull a Raymer and move to Raleigh. I'll sell them a frigging castle for what a hovel would cost in LA.
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