If you just received 5 million dollars

[running_bare]

Makes me laugh how people always seem to respond to this topic with the philosophical BS response about how miserable they were as an investment banker/(fill blank) earning $X and how happy they are now trading their own a/c making less $$$.

The question should instead be rephrased:

'All other things being constant would $X million....'.

That is, with the same job, same partner, same friends...
Put this way, seems there's little doubt about the preference.

And as error_404 stated many people here can't even dream big, they think $5M is a lot of money??
(no offence meant. and spare me the comparisons with the 3rd world etc...)

 

[DHOHHI]

Quote from running_bare:

Makes me laugh how people always seem to respond to this topic with the philosophical BS response about how miserable they were as an investment banker/(fill blank) earning $X and how happy they are now trading their own a/c making less $$$.

And as error_404 stated many people here can't even dream big, they think $5M is a lot of money??

I have no clue as to whether you work at some traditional job or trade full time. I can only reiterate that making LESS money trading beats the heck out of working in the corporate world. I have total freedom ... I can CHOOSE to do whatever I want each and every day. Sorry, but most people don't have that luxury.

As to your statement about $5 million not being "a lot of money" perhaps you're a consumption oriented consumer trying to BUY your happiness through material possessions ... I don't know. But many people, who have reasonable intelligence, could do quite well with that amount. A 5% CD would kick off $250K/year. And if one is a competent trader they could make a heck of a lot more.

 

[marketsurfer]

Quote from running_bare:

Makes me laugh how people always seem to respond to this topic with the philosophical BS response about how miserable they were as an investment banker/(fill blank) earning $X and how happy they are now trading their own a/c making less $$$.

The question should instead be rephrased:

'All other things being constant would $X million....'.

That is, with the same job, same partner, same friends...
Put this way, seems there's little doubt about the preference.

And as error_404 stated many people here can't even dream big, they think $5M is a lot of money??
(no offence meant. and spare me the comparisons with the 3rd world etc...)

ahhh, 5 million free and clear is enough seed money to start just about anything OR to live the upper middle class life forever on the interest. yeah, you will not be owning a G5 or a yacht but most of us could live nicely on 5 million free and clear.

best,

surfer

 

[vanilla2]

ok fine, with 5 mil i would pay running bare to live in a philippine slum for 10 years. would you do it running bare?

then you could really run bare

 

[axeman]

I would take less money per year trading instead of my
high paying job as well.

Time is one of the things money cant buy.

Hell.... Ill take a 50% salary cut if I could be off work
at 1pm every trading day on the west coast.

It would be like being retired.

Then I could run off and have some serious fun instead
of boring work.

peace

axeman

Quote from DHOHHI:



I have no clue as to whether you work at some traditional job or trade full time. I can only reiterate that making LESS money trading beats the heck out of working in the corporate world. I have total freedom ... I can CHOOSE to do whatever I want each and every day. Sorry, but most people don't have that luxury.

As to your statement about $5 million not being "a lot of money" perhaps you're a consumption oriented consumer trying to BUY your happiness through material possessions ... I don't know. But many people, who have reasonable intelligence, could do quite well with that amount. A 5% CD would kick off $250K/year. And if one is a competent trader they could make a heck of a lot more.

 

[marketsurfer]

what would i do with 5 million free and clear ??

1. one million to blow on cars, travel, adventure

2. one million to my school / helping specific individuals

3. two million in an irrevocible trust for my two boys

4. one million pay everything off-- mortgage, etc. and remainder in trust for property taxes.



that is how i would spend 5 million free and clear---doesn't get you very far does it ??

best,

surfer

 

[axeman]

Would be easy for me since im still single, plan to stay single,
and live very very light. 5 mil clear would put me on the
beach and doing everything I enjoy for the rest of my life.

Trading would be an intellectual hobby that would grow
those funds as well.

Once you cross the multi million dollar line, things get
much much easier. There is no looking back, unless
you do something real stupid, or something crazy
happens in your life.

No doubt i'll get there one day. Just trying to accelerate
the process by learning the markets.

peace

axeman

Quote from marketsurfer:

what would i do with 5 million free and clear ??

1. one million to blow on cars, travel, adventure

2. one million to my school / helping specific individuals

3. two million in an irrevocible trust for my two boys

4. one million pay everything off-- mortgage, etc. and remainder in trust for property taxes.



that is how i would spend 5 million free and clear---doesn't get you very far does it ??

best,

surfer

 

[marketsurfer]

Quote from axeman:



No doubt i'll get there one day. Just trying to accelerate
the process by learning the markets.

peace

axeman

no doubt, axe, NO DOUBT, my friend.

have a great night !

surfer

 

[dbphoenix]

Quote from DHOHHI:

As to your statement about $5 million not being "a lot of money" . . .

Actually, $5M is not a lot of money. The first thing I'd do with it is pick up 4 or 5 duplexes . . .

 

[marketsurfer]

Quote from dbphoenix:



Actually, $5M is not a lot of money. The first thing I'd do with it is pick up 4 or 5 duplexes . . .

dude,

one usually does not buy investment real estate for cash. since real estate is a cash flow/ tax game, financing your properties is the way to go. start out with 100 duplexes / mortgages then wrap the mortgages and watch your net worth increase---hopefully !

surfer