What do you believe to be a large amount of cash?

Quote from eagle488:


A house is a speculative instrument and sometimes a liability. I would never label it as a long term investment. . .
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Shelter is a basic need. You either buy the 500k house in cali or you pay 5k a month in rent there. Pick your poison.


Or you could always move to Texas where a decked out house is only running 80$ a sq ft new.
 
Quote from volente_00:

Shelter is a basic need. You either buy the 500k house in cali or you pay 5k a month in rent there. Pick your poison.
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Hehe. Keep up that thinking. Thats exactly what drove the tech boom. Tech is a basic a need. You can either buy a computer or use the internet...

There are many other options besides the ones you listed.

If you go to Craigslist, you can rent a room out of what appears to be a nice house in Orange County for $400 a month. A very nice luxury apartment appears to go for between $1000-1500. Which apartments in SoCal go for $5000 a month?

I said Socal, not downtown Manhattan. I think I can even find a luxury apartment in Manhattan for much less then $5000. Actually, my buddy rents a 1 bedroom in a nice high rise doorman apartment on the upper east side for $2300 a month. Great view of Manhattan.

If your paying $5000 a month, then I dont want you handling my cash at all...
 
$400 dollar rooms in SoCal are not that nice. I would say $600 minimum is okay if youre in your 20s and living with 3-4 other roommates. $1000-$2000 a month for an OK place living by yourself. a $500k house 15 miles from the beach will get you a dilapidated ranch house with 3 bedrooms, and holes in the wall. everyone here is over-leveraged on their loans (not only their houses) and the re-financing craze has begun for those still hopeful.
 
Quote from malaka56:

$400 dollar rooms in SoCal are not that nice. I would say $600 minimum is okay if youre in your 20s and living with 3-4 other roommates. $1000-$2000 a month for an OK place living by yourself. a $500k house 15 miles from the beach will get you a dilapidated ranch house with 3 bedrooms, and holes in the wall. everyone here is over-leveraged on their loans (not only their houses) and the re-financing craze has begun for those still hopeful.
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Is it true that MALAKA means a wanker in Greek?
 
No, Im serious. Look on Craigslist. Lots of homeowners with new condos and houses looking for borders minutes from the beach. I will give you some good examples:

THis doesnt appear so nice, but its in Brentwood. Nice area. Hehe. The kitchen doesnt look so clean.

http://losangeles.craigslist.org/wst/roo/219248046.html

Room out of a house in Venice right near the beach. $740. Love Venice.

http://losangeles.craigslist.org/wst/roo/219246113.html

A little more expensive. Hollywood Hills.
http://losangeles.craigslist.org/lac/roo/219199249.html

Valley Village apartment
http://losangeles.craigslist.org/sfv/roo/219173442.html

Santa Monica student special. Looks like a fun setup.

http://losangeles.craigslist.org/wst/roo/219082183.html

Beverly Hills. $750 a month.
http://losangeles.craigslist.org/wst/roo/218957618.html

Lets move onto 1 bedroom apartments:
Mission Viejo. 1100/month
http://orangecounty.craigslist.org/apa/219181761.html


My point is that there are always cheap options. I wouldnt mind living with the female students in the Santa Monica pad. I can only imagine the X-rated time to be had.

Believe me, I lived in SoCal at one time and worked for a bank. Interest rates will rise and the economy will pull back. There are not that many industries there. All these rents and housing prices will steadily decrease.

The only thing I really liked about SoCal was the x-rated times and good weather. The pay sucks, the attitudes are too snooty, and people act like hedge fund managers when they make 42000 a year. I have met many a CEO and hedge fund manager in NYC who act very humble and most of all REAL.
 
Quote from eagle488:

No, Im serious. Look on Craigslist. Lots of homeowners with new condos and houses looking for borders minutes from the beach. I will give you some good examples:

THis doesnt appear so nice, but its in Brentwood. Nice area. Hehe. The kitchen doesnt look so clean.

http://losangeles.craigslist.org/wst/roo/219248046.html

Room out of a house in Venice right near the beach. $740. Love Venice.

http://losangeles.craigslist.org/wst/roo/219246113.html

A little more expensive. Hollywood Hills.
http://losangeles.craigslist.org/lac/roo/219199249.html

Valley Village apartment
http://losangeles.craigslist.org/sfv/roo/219173442.html

Santa Monica student special. Looks like a fun setup.

http://losangeles.craigslist.org/wst/roo/219082183.html

Beverly Hills. $750 a month.
http://losangeles.craigslist.org/wst/roo/218957618.html

Lets move onto 1 bedroom apartments:
Mission Viejo. 1100/month
http://orangecounty.craigslist.org/apa/219181761.html


My point is that there are always cheap options. I wouldnt mind living with the female students in the Santa Monica pad. I can only imagine the X-rated time to be had.
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Living with housemates get old very quickly. It's not a bad tactic for while you're saving up cash, but I would never base an early retirement decision on the calculation that I'd be rooming the rest of my life. Get real.

Personally, I'm seriously considering 'retiring' early in another five, maybe ten years. I'd only have some $500k, so I'm looking at somewhere in the balkans (where I'm from) or maybe south america. I've done the sums, and even at very modest returns, that's enough to provide a good living in those countries. Well, good enough for my standards, anyway. Wouldn't really work for an American (or any westerner really), because people's attitudes, habits and mentalities in those countries will quickly wear you down; unless you're rubbing shoulders with the upper class, who are more civilized, but at $500k you wouldn't be. For me, though, it's looking like a decent plan. I mean, never having to work again, that is indeed enticing.
 
Buying a house in San Diego, might use up a million...and its not much of a house....

If you shop at Whole Foods and drive a Hummer H2 and your annual family income is 75k-125k, then your in the norm and should not be driving a Hummer H2 (trade it in for a H3 and always buy used from a private party).

If you over 40 and have not saved any retirement money, then your screwed.

I would say that in the "perspective" of things that a large amount of money is tough to generalize.

I really do not know...its all the same though...each day can be a challenge. Life is pain and its meaning.


Michael B.
 
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