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  #23  
Old 09-30-2019
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Default Re: how much money is needed to live a rich life?

http://money.com/money/5157625/ideal-income-study/

Interesting article, according to this the opimal amount for happiness is $100k a year in North America

Or move another country and you can live like a king for less than half that
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  #24  
Old 09-30-2019
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Default Re: how much money is needed to live a rich life?

Quote:
Originally Posted by agent006140 View Post
student loan is not just for tuition and books,it also covers living- room and board and partying and boozing
Whether you are student or not student,you still have to pay for food and lodging,this cannot be forgiven,
Uncle SAm is the only lender who would lend money to those who have no income,
You mean to say I can use Uncle Sam's money for booze & pot?

Wow, that sounds dandy!
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  #25  
Old 09-30-2019
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Default Re: how much money is needed to live a rich life?

Go to collage, earn 4-year degree and become a public school teacher.
The salary is so low, the teachers need to do a side hussle.

Now, this is where our friend, H4ck comes in...
If the teacher is good looking enough, she could be his "Sugar Momma".
H4ck already made a thread about this topic previously.

Here is an example how these college educated ladies can make extra money just to make ends meet.

Teachers are turning to 'sugar daddy' dating site to supplement their salary
https://www.yahoo.com/lifestyle/teac...145919281.html

"Nolah used to serve weeknights at Red Lobster — a third job she took in addition to tutoring to supplement her teaching salary. Now, thanks to the "sugar daddy" dating website SeekingArrangement.com, she's the one getting served. "I can go on a date, I can have steak and lobster, be gone for three hours after my kids are already asleep and come home with $500," she tells Yahoo Lifestyle."

I find this sad, yet interesting at the same time.
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  #26  
Old 09-30-2019
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Default Re: how much money is needed to live a rich life?

No need for 10mill

Invest 400-600k, delete PayPal & you are done

10mill in your bank will drain to 0 in 30-40 years
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  #27  
Old 09-30-2019
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Default Re: how much money is needed to live a rich life?

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Originally Posted by H4ck View Post
the only time I hear this crap is from poor people.
Your ignorance and vanity cancels any hope of good discussion.

Of course, if you are still wearing diapers, this might explain everything.

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  #28  
Old 10-01-2019
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Default Re: how much money is needed to live a rich life?

Quote:
Originally Posted by agent006140 View Post
school teachers working a second job is nothing new,housewives too and students as well.
we choose our vocation,if we are not happy with the pay or the job,then switch.
Teachers get summer off,who else get 3 months off with pay and then find a summer job pleasing sugar daddy?
They can also sell on Ebay.
I have met enough teachers in my lifetime,I dont recall anyone starving.
What really kills me are the people who spend $50k on student loans to go to school to study Liberal Arts, Fashion Design, Music, Art, etc. Most of them are hard pressed to find any other work making peanuts or slightly above minimum wage and wonder why.
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  #29  
Old 10-01-2019
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Default Re: how much money is needed to live a rich life?

It doesn't lead to happiness, trust me. I'm in my 20s, and taking a little break from my business. But at its peak I was doing $2.2MM in revenue. I lived life to the fullest. I was in all sorts of magazine like Marketwatch, Yahoo Finance, Businessweek. Everyone flocked to me. I was happy at first thinking its great I have all these friends. Then reality hit. Put the business on a hiatus. They all bailed on me. That kinda stuff hurts so bad. Some people I've known since middle school are still with me though, so I cam't complain.

I would say ideally $600=$700 would be alright. I'd consider that to be rich but but low end rich.
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  #30  
Old 10-03-2019
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Default Re: how much money is needed to live a rich life?

I have a much different type of outlook towards money. Their will never be enough of it so if I make 50k a month or even 100k a month....my behavior won't change all that much.

because you have to look at the entire picture, your entire life, your family, your kids, their kids,

mansions, newest cars, newest clothes, freshest food with finest cut meats and seafood,
the list goes on and on and on.
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  #31  
Old 10-04-2019
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Default Re: how much money is needed to live a rich life?

I don't want a rich life, just want to live comfortable.

I dont need a Ferrari just give me a Bimmer.

Don't need a mansion, a regular house will do.
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  #32  
Old 10-04-2019
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Default Re: how much money is needed to live a rich life?

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Originally Posted by yungsc1005 View Post
I don't want a rich life, just want to live comfortable.

I dont need a Ferrari just give me a Bimmer.

Don't need a mansion, a regular house will do.
boring...........I want it all.
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  #33  
Old 10-04-2019
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Default Re: how much money is needed to live a rich life?

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Originally Posted by H4ck View Post
boring...........I want it all.
You will never be happy then
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  #34  
Old 10-04-2019
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Default Re: how much money is needed to live a rich life?

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Originally Posted by JamesNorth101 View Post
You will never be happy then
Well If I ever have it all...I will let you know how I feel
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  #35  
Old 10-04-2019
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Default Re: how much money is needed to live a rich life?

did you guys know that the average millionaire in usa is roughly 65 years old.....

also being a millionaire at 65 years old means you failed....
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  #36  
Old 10-04-2019
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Default Re: how much money is needed to live a rich life?

Quote:
Originally Posted by H4ck View Post
did you guys know that the average millionaire in usa is roughly 65 years old.....

also being a millionaire at 65 years old means you failed....
And that's why most of the financial advise you hear throughout your life is for the masses.

The best most people can hope for to get "rich" is through an inheritance, lottery win, or to get extremely lucky with a business and investment venture.

For the rest of the "suckers" it's the stuff in the Wall Street Journal or what your pedestrian stock broker tells you.
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  #37  
Old 10-04-2019
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Default Re: how much money is needed to live a rich life?

Give me that your profits which u will be able to make in 2 years , I will put you in the champions league
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  #38  
Old 10-14-2019
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Default Re: how much money is needed to live a rich life?

being a millionaire after 60 years old you have a 14 percent chance,

being a millionaire under 40 years old you have about a 2 percent chance.

when you think of those odds its a very huge extreme

basically being a millionaire in a young age requires a lot of either luck, and/or doing something highly illegal,

2% is even lower than harvard acceptance rates......

being a billionaire......well you have a 1 out of 91000 chance far below 1% chance.......better odds than the powerball lottery which is 1 and 175,223,510 I believe......

Last edited by H4ck; 10-14-2019 at 04:39 AM.
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  #39  
Old 10-14-2019
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Default

some of the early MSFT programmers retire after making a million,they are burnt out and turn into beach bums.
I hope they have gone back to work,as they are no longer young now.
Making a million is not easy,holding on to that million is even harder.

basically being a millionaire in a young age requires a lot of either luck, and/or doing something highly illegal,
------------------------------
Google and FB have turned young folks into millionaires,who is that co founder of FB,he took his millions and moved to Singapore.
Some have moved to places like Spain and follow their dreams to start a vineyard,

I take wealth over happiness any time,with wealth I can generate happiness!
With wealth,I dont have to work my fingers to the bone,I can sleep like a baby,I can be generous ,hospitable,benevelent ,I can make other people happy

Quote:
Originally Posted by FlyTo View Post
Money is never enough. You always want to have more than you have, such human greed.
thats not true,ask any multi billionaires,managing money can be very challenging !
Once you reach a certain age and xx billionaires,your interest in life indulgence wane,you start thinking of death ,and legacy you want to leave behind,in most cases,they want to do some goods before they are gone.
There is no need for wealth tax,you cant take it with you,just encourage them to do good deeds,your heirs dont need billions to live,in fact it could hurt them.

Quote:
Originally Posted by farazc View Post
100% agree with you. Do what makes you happy not what makes you rich.
making yourself rich makes you happy,TRUST ME!
You just spare yourself the agony of meeting rent/mortgage payment,food on the table,utilities all paid,health insurance and medicine all paid,you are welcome everywhere you go,people tend to laugh at your jokes,before you open your mouth,they tend to agree with you more.
How many times have you been told by someone who is out of a job-he is not invited to functions,his phone calls are not returned,no one wants to have lunch or drinks with him,the longer he stays unemployed,the worse his resume looks,he is deemed a loser !
You start to shop for day old bread,lost and found,clip coupons,dollar store,bargain bins,cut your old hair or not cut at all.
Handwash your clothes and hang it dry the mother nature way,wear heavy underwear in winter.
Once I ran into a shopper and I pointed out chicken legs for 29 cents a pound is a steal BUT he said,it would take too long to cook,run up my gas bill !

Hawaiians once said we dont worry about the ones from the mainland taking over our islands,after 1-2 years,they all get homesick and they want to go home.
J Paul GETTY lived in England for many years,in his last years,he would like to go home but afraid to fly.
If you go to a foreign country because you can live cheap and good,you have to adjust,you may not like the way they brew their coffee,their customs,you hang out with people like yourself every day and soon you get tired,eventually you get homesick and want to come home.
They can eat leftover without refrigerator,just boil it again with some vinegar !
They wear the same clothes for several days,spots and stains are fine,these are battle scars to show you worked.
They dont whiten their teeth ,their teeth are crooked but they dont mind,they dont wash their hair or take a shower daily,they may not even have a shower stall,or bathroom.
They dont have napkins,they just wipe their mouth with the back of their hands.
They dont know what you are talking about-American football,baseball,streaming?
organic food,what is that?
Oh,dont be afraid to spit on the street !

not having enough money can make your life miserable,

yeah,gas is always more expensive overseas than here,ask those who live on the Carribean islands.
and healthcare,I have heard a case-someone went to India as tourist and come back in an urn.
Good luck if you miss a good hamburger the American way or a good juicy steak the American way,even in meat hound countries like Brazil and Argentina,their beef is different,

Quote:
Originally Posted by dan_ebay View Post
Comfortable yeah but not really luxurious atall. Luxury items tend to be more expensive like I said. Nice cars, good quality food etc as it's all imported and/or taxed to death. The only big saving is cheap (slave) labor, so I could get a cheap cook, maid etc if I wanted to but the last 1 tried to burn my house down so I don't fancy it to be fair lol.
There are many Philipino women who work in Singapore,HK,Taiwan,Japan ,Saudi Arabia,Canada as maids,some are college educated,some are even wives of professional and politicians,it seems to be a fad that your kids go to boarding school and study and these wives left their family to make that extra money to afford children boarding schools,some are married to lawyers and even governor of a province.
It is sad that the men cannot afford to support the family and their women have to be doing menial work,in foreign countries and many are mistreated.

In the old days when that greenback is King,folks will take their SS$ and retire to where they come from,but not anymore,may be Mexico,do what locals do,take the bus,shop in open market,be happy with landline,DSL,and shop local produce and boil your water.

what good is health if you aint got the money,soon you will not be healthy if you dont have money to buy food or a place to sleep.
How many healthy homeless people have you met?

Last edited by TGMT²; 07-02-2020 at 03:33 PM.
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  #40  
Old 11-20-2019
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Default Re: how much money is needed to live a rich life?

happiness and wealth are two different things
https://en.wikipedia.org/wiki/World_Happiness_Report
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  #41  
Old 12-26-2019
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Default Re: how much money is needed to live a rich life?

Quote:
Originally Posted by nickopedia View Post
Having a college degree is no longer a guarantee of financial success. This may have been true 20 years ago, but all the rules of the success game have changed dramatically. Employers are beginning to realize the really smart people didn't necessarily graduate from an ivy league university with some fancy piece of paper.

I find it amazing that high schools still tell lies to students they won't amount to much unless they go on to College/University. In my opinion, the US education system is one of the biggest scams going of the 21st century.
But that's were they learn to party hardy.
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  #42  
Old 12-26-2019
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Default Re: how much money is needed to live a rich life?

Quote:
Originally Posted by Kingcookie View Post
No need for 10mill

Invest 400-600k, delete PayPal & you are done

10mill in your bank will drain to 0 in 30-40 years
Not really sure what your saying.

If you have 10 million you can live of that for the rest of your life. Certain colleges have federal funds that guaranty %8 return yearly at the minimum. 10,000,000 X.08 $800,000. I dont know about you but I would love to have 800,000 a year to live. with 10 million invested right you are more likely to see your money increase over 30-40 years.


Getting to 10 million is the hard part. Even you are a professor with the department chair you still have to live modestly for 25-50 years to reach 10 million. I hope I can enjoy the money when I am old.

The best way to get 10 million (young) is to become a famous musician or actor. Followed by Being a hugely successful business own funded by a great idea that creates investors or by rich family.
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  #43  
Old 12-26-2019
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Default Re: how much money is needed to live a rich life?

Quote:
Originally Posted by agent006140 View Post
I take wealth over happiness any time,with wealth I can generate happiness!
With wealth,I dont have to work my fingers to the bone,I can sleep like a baby,I can be generous ,hospitable,benevelent ,I can make other people happy
The real happiness is spiritual tranquility created through mental state of positive senses and deep understanding of one's true self.
Wealth is material abundance which mostly serves to satisfy your egoistic needs. The best it can offer is "an illusion" of happiness.
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  #44  
Old 12-26-2019
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Default Re: how much money is needed to live a rich life?

Quote:
Originally Posted by Frodo View Post
The real happiness is spiritual tranquility created through mental state of positive senses and deep understanding of one's true self.
Wealth is material abundance which mostly serves to satisfy your egoistic needs. The best it can offer is "an illusion" of happiness.
100% agree with you. Do what makes you happy not what makes you rich.
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