RochesterRob Posted September 18, 2018 Posted September 18, 2018 On 9/17/2018 at 10:54 PM, Gray Beard said: $1,000,000 isn’t $1,000,000 anymore. You really need $10,000,000 to have $1,000,000 these days. Expand Good point. A million dollars is not like it was a few decades ago when we were much younger (if we were around at all). But I will roll with the OP's premise. Pay off mortgage, replace PU with new PU, replace wife's car, and bank the rest. I'm not old enough to live off the rest and not need more before my presumed age of death. Still would have to earn income for a while and with the bad breaks in the last decade retirement is far off. Came close to making a million when the Microsoft IPO came along in 1986. I was at college and there were guys talking about it like it was a sure thing. I had 2,000 dollars put aside I could have used to buy stock but decided the word of a few guys who really did not know anybody on the inside was not enough. But even that would have not been enough as you would have to hold the stock untouched through Dec. 1, 1999 when it peaked to get that million plus dollars. I will repost this story for the next "if you had a time machine" thread. 1
Chef Jim Posted September 18, 2018 Posted September 18, 2018 I'd buy a restaurant!! I hear having money corrupts to that would take care of that.
RochesterRob Posted September 18, 2018 Posted September 18, 2018 On 9/18/2018 at 7:30 PM, Chef Jim said: I'd buy a restaurant!! I hear having money corrupts to that would take care of that. Expand I thought that you were supposed to farm it away?
Mark80 Posted September 18, 2018 Posted September 18, 2018 Pay off any and all debts, invest the rest, retire by 50 at the latest.
Augie Posted September 18, 2018 Posted September 18, 2018 On 9/18/2018 at 2:36 AM, Fadingpain said: You've used that line here before Augie! Re: the change, ask Dr. Krentist! I'm sure he'll help you out, if he has any that is. Expand I’ve only got like three lines, and I keep them in a rotation. Don’t expect much from me and you won’t be disappointed. Ask my wife! ? 1
RochesterRob Posted September 18, 2018 Posted September 18, 2018 On 9/18/2018 at 7:58 PM, Mark80 said: Pay off any and all debts, invest the rest, retire by 50 at the latest. Expand If you are fairly young there is time to grow that million less debts so you can retire young. I just would not count on the market being as bullish as it has been at times recently and further into the past.
Chef Jim Posted September 18, 2018 Posted September 18, 2018 On 9/18/2018 at 11:00 PM, RochesterRob said: If you are fairly young there is time to grow that million less debts so you can retire young. I just would not count on the market being as bullish as it has been at times recently and further into the past. Expand Thanks for the advice but...................wait, what?? 2
WhoTom Posted September 19, 2018 Posted September 19, 2018 On 9/17/2018 at 10:54 PM, Gray Beard said: $1,000,000 isn’t $1,000,000 anymore. You really need $10,000,000 to have $1,000,000 these days. Expand "A nickel ain't worth a dime anymore." - Yogi Berra 1
Augie Posted September 19, 2018 Posted September 19, 2018 On 9/18/2018 at 11:24 PM, BUFFALOKIE said: I'd be broke by Tuesday. Expand Self aware, I like that! 1
Matty the Dustmop Posted September 20, 2018 Posted September 20, 2018 I would call the office to give my notice, I would tell them did you notice that I am not there.....I !@#$ing quit...... 1
Augie Posted September 20, 2018 Posted September 20, 2018 On 9/17/2018 at 10:54 PM, Gray Beard said: $1,000,000 isn’t $1,000,000 anymore. You really need $10,000,000 to have $1,000,000 these days. Expand I thought this was a good time to repeat the above. You will get almost zero return and be eating into principal immediately. You will also not be contributing to any tax deferred retirement plans. Some of the folks here should have been professional athletes, as they share the same sense if fiscal sensibilities. ? 1
BuffaloBill Posted September 20, 2018 Posted September 20, 2018 On 9/17/2018 at 10:54 PM, Gray Beard said: $1,000,000 isn’t $1,000,000 anymore. You really need $10,000,000 to have $1,000,000 these days. Expand Just pop the bubble .... bastage 1 1
Soda Popinski Posted September 20, 2018 Posted September 20, 2018 pay off house, buy rental property, buy 25' Dusky forward cuddy CC and take it to the keys. Probably go from my 1500 ram to an F250 4x4 diesel to pull bigger boat. Buy wife whatever she wants. pay kids tuition. Go on elk hunting trip in New Mexico or Wyoming. Buy 250 acres in South Carolina to hunt/lease. Trust me I could do it all i'm craft with $$
Augie Posted September 20, 2018 Posted September 20, 2018 On 9/20/2018 at 1:43 PM, Soda Popinski said: pay off house, buy rental property, buy 25' Dusky forward cuddy CC and take it to the keys. Probably go from my 1500 ram to an F250 4x4 diesel to pull bigger boat. Buy wife whatever she wants. pay kids tuition. Go on elk hunting trip in New Mexico or Wyoming. Buy 250 acres in South Carolina to hunt/lease. Trust me I could do it all i'm craft with $$ Expand We LOVE the idea of zero debt, but were advised that the dirt cheap money we owe on the house comes with a tax advantage, and we could get a better long term return on that money elsewhere. As much as it’s not what we wanted to hear, it did make sense to us. 1
Gray Beard Posted September 20, 2018 Posted September 20, 2018 On 9/20/2018 at 10:03 PM, Augie said: We LOVE the idea of zero debt, but were advised that the dirt cheap money we owe on the house comes with a tax advantage, and we could get a better long term return on that money elsewhere. As much as it’s not what we wanted to hear, it did make sense to us. Expand I’ve heard this argument many times. I paid off my house a few years ago, but I don’t pay cash for cars. Those zero interest car loans are too good to pass up, even for a person as debt averse and nervous as I am. 1
Augie Posted September 20, 2018 Posted September 20, 2018 On 9/20/2018 at 10:07 PM, Gray Beard said: I’ve heard this argument many times. I paid off my house a few years ago, but I don’t pay cash for cars. Those zero interest car loans are too good to pass up, even for a person as debt averse and nervous as I am. Expand I’ll drive a car forever to avoid doing the whole car buying nightmare. My wife, however, sees the negotiating as a game and loves the process. She’s a bit goofy, I’m afraid. MANY years ago, when cell phones were still fairly new, we were leaving a gym somewhere after a kids game. Her phone rang and I had to keep the kids quiet while she saved a deal. When she finished her business, she turned to my kids and said firmly “THAT is my sport!”
Gray Beard Posted September 20, 2018 Posted September 20, 2018 On 9/20/2018 at 11:12 PM, Augie said: I’ll drive a car forever to avoid doing the whole car buying nightmare. My wife, however, sees the negotiating as a game and loves the process. She’s a bit goofy, I’m afraid. MANY years ago, when cell phones were still fairly new, we were leaving a gym somewhere after a kids game. Her phone rang and I had to keep the kids quiet while she saved a deal. When she finished her business, she turned to my kids and said firmly “THAT is my sport!” Expand It sounds like her sport is pretty worthwhile. She should be encouraged.
mead107 Posted September 20, 2018 Posted September 20, 2018 I would pay for Gugny to come to all home games for a year. 2
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