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how much money is needed to live a rich life?
 

how much money do you think is needed to live a rich life?

I believe you need at minimum 10 million dollars in 2019 money......to live a fairly nice life in America or the 1st world countries to really enjoy all that life has to offer and that is for 1 person from 20 years old all the way to 95 years old......provided that the person has an education and continues to reinvest their money properly.

10 million / 75 years = 133k/year

11k/month

personally thats why I kind of want to give up on life........I will never reach that goal most people in their 60s generally retire with only about 200k in their savings account on average

people think I am crazy that I should be the happiest person on earth raking in 30-50k a month in profit but its hard to sustain I think I can only sustain this for another year or two. I don't pay attention to 1 or 2 years of money I pay attention to the entire lifespan and how much it costs to live like a king on earth every single day until you die.

back then,American middleclass household by the time they retire,they can sell their house (mortgage free) and move to Florida ,buy or rent a condo and park the rest in a bank earning 10-12%.
They have their SS checks ,401k/pension checks to meet their day to day expenses,travel and enjoy their golden years.
Now,they could have a reverse mortgage on their house or second mortgage so by the time they sold their house,the net proceeds could be a lot smaller.
Then comes medicare and medigap premium,prescription drug which is not covered by either.
Some move to MExico,Costa Rica,Malaysia,Ecuador,Thailand,Portugal.
Mexico seems to be quite popular now.

Someone once said in the future there are 2 kinds of people,those who work on automation and those who play video games all day.
You can imagine those who play video games all day are living on some fixed stipends and dont expect them to walk into an auto showroom and buy the latest model of any luxury car or any new car.
what is going to happen to a society ?
Do young people still want to get married and raise a family?
Is it still worth it to go to college?
Do we still need all the fast food,slow food restaurants?
Are we still be expected to leave 20% tip for lunch and 25-30% for dinner
How about being a professional student all you life aint bad idea?
You dont need fancy clothese,you eat in cafeteria,you learn something every day,you dont have to look for a job,and everyone around you is in the same boat?

if making money is so easy,why arent we all rich?
why are we wasting time chatting on this board?
Making money is hard,darn hard.
As for college,it helps you develop the ability to conceptualise,you know we live in an advanced society,we dont run around with loin cloth and sleep in cave.
Many entrepremeurs wish they have attended college or take a few courses in finance and accounting,but never can spare the time to do so

HAVE You tried walking out of a grocery store with a bag of grocery without paying for it?????

well,now all the knowhow have been plucked from human into robot,robot advise you how to plan,spend,save and retire.
but someone has to tweak the robots,and these are college graduates with advance degree.
But I agree,that 4 years of undergraduate study can be shortened ,some of these courses have been covered in high school already,if they have not,then revise high school education system

No one ever guarantee a college degree will make you successful or rich,but if you are the employer and you have 2 candidates,one has spent 4 more years studying assorted subject matters and you arent the one who paid for it,who would you hire ?
it is like you have $50 to spend,you can have either a prime rib or a burger,your choice,what would you choose?

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,

dont you know?
after 2008,those who cant find job went back to school with a studentl oan,at least they get a roof over their head and 3 meals a day,free concerts and lots of company.

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.

Many of us do not have role models to learn early in life that certain skills are in demand by society and awarded with higher pay and prestige,also young folks are idealistic,they follow their interest and want to pursue a career in line with their life goals and interest.
Some just dont have the ability/IQ/perseverance/interest to get into certain industries ,engineering,IT,medicine,law ,finance etc.
American Bar Association said there are just too many lawyers but law school is a money maker,universities spent money on law library,after that,it is a good cash cow.
Law school is expensive,you could spend a fortune and end up as ambulance chaser

depends on where you live,your house could be worth over a million.
sell it and move to the south

Re: how much money is needed to live a rich life?
 

thats just it, you have to settle for a lot less.

After 1-2 years when I am done with this money making idea I will be out of the job.

so this 300-400k after 2 years of work I bet it will only last me give or take 10 years while being unemployed and my life is not glamorous type of living either

its not like am living in a mega mansion in los angeles by the beach fvcking pornstars day and night and driving around in lamborghinis...

for the next few generations and your entire family to be cared for, you would need mark zuckerberg type of money.....where your entire blood line would be rich for ages.

Re: how much money is needed to live a rich life?
 

11k a month while good, it’s not exactly going to give you a ‘rich’ life style. So it really depends on what you mean by rich.... in that level of money your not going to be able to have Ferrari’s, 1st class holidays every month etc. You can be comfortable but 11k can quickly vanish if you are still renting and trying to maintain a expensive life.

Re: how much money is needed to live a rich life?
 

A rich life is a life being content with what you have.

Go and see how the poor live and that will make you greatful for what you have.

Re: how much money is needed to live a rich life?
 

the only time I hear this crap is from poor people.

Re: how much money is needed to live a rich life?
 

Why are you talking to poor people?

You're better than that. :laugh:

Also, IMO, a self made person never considers themselves rich unless they make $50mil and retire. Some kid who inherits millions would call themselves "rich" but I'd like to think those who are motivated enough to make themselves wealthy wouldn't become content so easily.

Re: how much money is needed to live a rich life?
 

I heard this from my poor family and friends growing up......when I hang out with the upper class they don't think like this....

the upper class people are real greedy people and they are incredibly clever and creative

Re: how much money is needed to live a rich life?
 

Hence their upper class status. Smart people make money, dumb people vote for people who they think are going to give them free money.

Still though you hate your family, so screw 'em. They're dragging you down. They're trying to steal your glory and your money. I don't think you should mess with them.

When do you have chances to hang out with upper class people? You're always saying you're a loner who wears all black + boots 24/7 as you fantasize about women. Are you really chillin with CEO's and whatnot?

Re: how much money is needed to live a rich life?
 

LOL :pound::pound:

Re: how much money is needed to live a rich life?
 

I hung out with a lot upper class folks online and in person and I have contacts we discuss certain things and they are quite different

Re: how much money is needed to live a rich life?
 

What pisses me off are these poor people who think they are entitled to everyone elses stuff or demand higher taxes from the rich and sit on their lazy asses all the while complaining.

Complaining without putting forth the effort and earning is a huge pet peeve of mine. If you are not happy with your $12 wage from WalMart, then do something else instead of just bit&hing and whining about how poor you are or play the victim.

Only idiots think they need a college degree to make big money. You only need to be creative, and put forth the effort. It doesn't always have to do with intelligence.

There is a lot of cash to be made especially in this economy for those who truly want it.

Re: how much money is needed to live a rich life?
 

WTF does that even MEAN?!? :lol:

Re: how much money is needed to live a rich life?
 

Not necessarily.



Necessarily! lol

Re: how much money is needed to live a rich life?
 

No money is needed but it certainly makes it easier :)

Re: how much money is needed to live a rich life?
 

Money is a trick of the mind, a group of men have figured out this long time ago and they have been punking everyone ever since.

Re: how much money is needed to live a rich life?
 

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.

Re: how much money is needed to live a rich life?
 

I don't. They are TOLD what to preach to children, and we know who is doing the telling!

Re: how much money is needed to live a rich life?
 

Of course, this is a fact. Indoctrination of our kids.

Lies start at an early age.

Re: how much money is needed to live a rich life?
 

Exactly. Keep us poor, and paying interest on student loans for 30 years! =}-

Re: how much money is needed to live a rich life?
 

A fact:

As many as 44.7 million Americans have student loan debt, according to a 2018 report by the Federal Reserve Bank of New York. The total amount of student loan debt is $1.47 trillion as of the end of 2018 — more than ALL outstanding credit cards or auto loans.


And you wonder why I call it a SCAM?

Re: how much money is needed to live a rich life?
 

Crazy, isn't it. My better half went to law school in London, and 20 some years later, still owes in the low/mid 5-figure range.

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

Re: how much money is needed to live a rich life?
 

You mean to say I can use Uncle Sam's money for booze & pot?

Wow, that sounds dandy! :thumb:

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.

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

Re: how much money is needed to live a rich life?
 

Your ignorance and vanity cancels any hope of good discussion.

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

:rip:

Re: how much money is needed to live a rich life?
 

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.

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.

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.

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.

Re: how much money is needed to live a rich life?
 

boring...........I want it all.

Re: how much money is needed to live a rich life?
 

You will never be happy then

Re: how much money is needed to live a rich life?
 

Well If I ever have it all...I will let you know how I feel :d

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....

Re: how much money is needed to live a rich life?
 

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.

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 :thumb:

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......

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

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.

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,

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?