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

1 million is a lot of cash.

period.

Anything above 3 million starts for a single male, becomes big pimpin lifestyle.

Anything above 6 million starts to get wasted because one guy can't really spend that much money unless he's throwing free parties.
 
I think this qualifies for me.

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BTW, that's 12 Million Dollars. Nice going Jamie
 
You have a paid off House and no kids in college....5 million is good...

Otherwise 7.5 mil would do the trick


I am taking donations if anyone is feeling generous:D
 
Quote from eagle488:

I look at things in 7 year cycles. A 10 percent gain each year for 7 years will double any given amount of cash (when taxes are not factored into the equation).
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These rules of thumb are just that- first of all, there's no guarantee that you can get 10% per year. Secondly, of course you have to factor in taxes- we have to pay them, right? That takes a huge chunk out. Also have to factor in inflation. The net $ you can make off of $1MM isn't as much as it seems.

I beg to differ about $6MM+ being more than you can spend, by the way. You can blow through that pretty darn easily if you wanted too. Of course you could live off of it forever if you did it right, but not even close to being more than you can spend, IMO.
 
Quote from eagle488:

I view anything over $1 million dollars to be a large amount of cash.

Under a million is still nice, but its not enough where I would feel truly comfortable.

A million dollars invested wisely enough can be turned into multi-millions in a 7 year time frame. Even just socking it away in the Vanguard Wellington Fund and you would nearly double your cash to 2 million.

On the other hand 300,000 just turns into 600,000 in that same mutual fund. It could be turned probably into over a million with aggressive enough investing. 600,000 is still a nice amount of cash, but its not a million.
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"Narrowing our search to "salary," we found that the Bureau of Labor Statistics reports the average annual wages in the U.S. as $36,764."

so considering that a risk free rate of return right now is around 5%. that means a nestegg of 800k could be enough if your lifestyle was average.
 
$1 million is just a start, but it certainly is not enough, at least not in the NY area. Trust me I know.

Like some have said maybe in some parts of the country it would be enough. I wouldn't know about middle America or what things cost out there.

I think for myself, I would need to be in the $5 million+ range to feel like I'm set.
 
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