Talk Elections

Probably a mix of 2 and 3 for me.

I like my job, but would not work there anymore I guess.

Probably chill out and travel a lot, focus on photography and the family and maybe set up my own company later because of the saved capital.

Voted option 3.

What about you ?

I don't have a job, but I'd slack off until fired if I had one.

€ 1 million is a lot of money, but it's not enough for a lifetime to relax on.... Even if you put it in the bank, you're only looking at an interest payoff of like €20,000 a year. Add inflation over the next several decades of life....

You can survive on it, but you won't be living an upper class life with lots of traveling and all...

It would have no impact whatsoever.

I second this

20.000 to 50.000€ in interest/yield from investments a year would be totally enough for me. I only need about 900€ right now for monthly payments, so I could spend the rest on travel from the interest alone - without even tapping the 1 million of capital still in the bank.

Consider, though, what the 20.000€ will be worth 10-20 years from now.

I would still have enough money for my standards for the next 100 or so years ... :P

that's $1.3M USD.  assuming that is after tax I could (with my likely to come inherited wealth) live in leisure for the rest of my life.  I could lock literally $1.2M+ in a trust or mutual fund of sorts and get 4% interest in the lowest risk investments.  that's $48k/yr.

of course less after inflation.

::)

Well it wouldn't. 

Braggart.

As for myself, obviously I have a fine talent for enjoying life that is almost entirely (and oh so tragically) thwarted by the continual humiliation of paid employment. 

Option 2 for me. I'd start a bar & grille, and do that for a living.

And you'd be your best customer? :)

I think owning the shop would really spoil the enjoyment of the product/service.  I for example would never open a brothel.

Where are you getting 4% a year returns on low risk investments? 

No. It's not enough for retirement at my age. Even at a good level of interest it's not at that level to do any more than supplement my income. Without any kind of serious investment at all it would only last me 20 years to support my current lifestyle, give or take a few depending on various factors. Less if I married and had kids.

I think I could do it at $3 million though. If I take half and have someone really good managing investing it to get a high rate of interest on it I could live off of that, and keep the other $1.5 million in savings for backup.

Either save it like the miser I am, or try to make that money productive.

Yeah that sounds a bit high.. in the US I guess you'd just get about 1.5-2% or so?  I think here you might be able to get 4% for a big amount like that, but then you'd be in baht.  Just checked, looks like more around 3.5%. (http://www.bot.or.th/english/statistics/financialmarkets/interestrate/_layouts/application/interest_rate/IN_Rate.aspx)

I'd disperse it among my investments and continue to live life the exact same way I already am. While a extra million dollars would be very nice indeed, it wouldn't be a serious game-changer to my finances.

Do you have real estate in Hong Kong or something?

()

If I won that amount of money 10 years from now, I'd keep working because nowadays, the market is very uncertain. Besides, who doesn't like money? ;)

But good lord man, have you ever worked?  It is horrible.  At least you could spend the 1.3 million and have like a 10 year holiday, and then just work when you're old.

To be fair, when I was young I always imagined I would 'do the necessary' rather than give in to the humiliation of paid employment, but, to my never ending shame I didn't have the guts.  So I can't totally recommend the spend-it-all-and-then-away-in-a-blaze-of-glory strategy.

Time to buy real estate (an NOI of 4% for something in a solid neighborhood is now quite doable). Heck I am getting very close to 3% on my quite expensive house in Silverlake that I plan to retire to (expensive houses don't make very good rentals). The real return on low risk investment like short bonds is negative at the moment actually.  A good rule of thumb to project the expected real rate of return outside the real estate game, where the numbers bounce around, is to look at the dividend yield on stocks, currently at about 2%, and of course TIPS, which have a negative inflation adjusted yield.

I'd be able to take a lower paying job that I actually want to do, like coach debate.