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I wanna be rich (1 Viewer)
- Thread starter Otis
- Start date
Osaurus
Footballguy
ClownCausedChaos2
Footballguy
15M??? I could get away with 5M
ClownCausedChaos2
Footballguy
And a snazzy catchphrase, like, "Better contact Otis!" I mean, that's not a good one, but you get the idea.
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mquinnjr
Footballguy
Dan Lambskin
Footballguy
Take paycheck
Keep betting black until you clear $15M
If you lose try again next week
Keep betting black until you clear $15M
If you lose try again next week
Henry Ford
Footballguy
Two words: ball bearings
NutterButter
Footballguy
Another 120 years or so and you'll be there. Have patience.
NIU Kicker
Footballguy
See id be happy with owning my house and like a half mill. Then I could quit my professional job and work at a golf course.
Otis
Footballguy
5M?? What do I do in 5 years after I have burned through it all?? I won't settle for a penny less than 10, and 15 is far more realistic.
Otis
Footballguy
North of 15M I feel I'm getting just enough interest to offset some spend and therefore sustain the money much longer. I likely would continue to work in some capacity, on my own terms, and figure I could pretty easily supplement with some spending income.
Stop changing the subject. How do I go about getting 15MM?
Note: if you are thinking gambling is the answer here. I've already tried that and it doesn't work.
fantasycurse42
Footballguy Jr.
$7.5MM by 50 should be the goal... $250k a year til 80 and then lights out
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fantasycurse42
Footballguy Jr.
My sisters cousin makes $8,000 an hour sitting in front of her computer taking online surveys
Otis
Footballguy
Abraham
Footballguy
you just bought the house!
Jayrok
Footballguy
Jayrok
Footballguy
I have a friend who recently won a scratch game for $5M in a GA lottery game. Recently retired from civil service and was having trouble with the VA over disability and went home and his wife showed him the ticket. Problem solved. You could play and if you hit that prize 3 times you have your $15M.
johnnycakes
Footballguy
BigSteelThrill
Footballguy
5-ish Finkle
Footballguy
Well, write down how much you typically charge for a beej.
Divide 15M by that....and get to suckin'? (Or maybe factor in the cost of all the Chapstick first, then start.)
lod01
Footballguy
Ditkaless Wonders
Footballguy
You are rich. You have a loving wife and lovely kids, treasure enough for any man. Still, if its more money you need try man whoring with an emphasis on "specialty" services. You are an open-minded guy, make that pay. Concentrate on older broads and rich, twisted, gay dudes.
bigbottom
Footballguy
Wife and I have talked at length about investing in a McDonald's franchise. A friend of ours owns a couple and his dad owns something like 10. But I am concerned about the direction of fast food in this country - may end up a bad long term investment.Own and operate 8 average McDonald's franchises for 3 years.
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Dan Lambskin
Footballguy
OTI$
NCCommish
Footballguy
Start investing your money in businesses in Costa Rico. Build up a bit, live like a king. Down there a lot less than 15 million sets you up for life. Big American ex-pat community including lots of doctors and dentists. Oldest democracy in Central America. Becoming quite the destination for retiring Americans.
avoiding injuries
Footballguy
On the bright side, there are a lot of people who wish they were as rich as you are now.
Not this nonsense again...Own and operate 8 average McDonald's franchises for 3 years.
NewlyRetired
Footballguy
15m to retire? Holy crap your finances and spending habits must be outrageous. And I say that as some one who retired early.
You said you had $2million in debt so that would leave you with $13m.
If you get 3% a year after taxes from that $13 million that is almost $400k a year with never touching the principle.
With no debt and no mortgage would you really need to spend $400k a year to be comfortable?
You said you had $2million in debt so that would leave you with $13m.
If you get 3% a year after taxes from that $13 million that is almost $400k a year with never touching the principle.
With no debt and no mortgage would you really need to spend $400k a year to be comfortable?
Otis
Footballguy
Otis
Footballguy
NewlyRetired
Footballguy
It all depends on your expenses.
If you live on $100k or more per year it will be extremely tough.
If you live on $50k per year it is doable.
If you want to retire in the 2 million range you would most likely need
1) low household expenses
2) zero debt including house being paid off
3) if you have kids, already having college saved up or deciding not to pay for college for kids
If you have a mortgage/debt and expect to pay for college, retiring on $2m is going to be tricky if not impossible
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Otis
Footballguy
Fair point here. Is 3% a year after taxes a reasonable expectation?
Give me $200k a year. So let's say 9MM.
Let's talk about how to get $9MM. If I ask here where I can get gluten free elbow macaroni, someone will tell me. If I need to know how I can get a brass quarter inch hex bolt, the FFA will guide the way. How do I get $9MM?
I'll hang up and keep slaving at a sucker's job.
Otis
Footballguy
Buck Bradcanon
Footballguy
NewlyRetired
Footballguy
3% over time is pretty reasonable if you keep a good mix of fixed and variable investments, making use of tax free bonds where you can.
It is very conservative and you won't grow principle a ton n good years but it also protects you from downturns as well.
Nothing is certain of course.
BigSteelThrill
Footballguy
Being a restaurant franchisee isn't nonsense.Not this nonsense again...Own and operate 8 average McDonald's franchises for 3 years.
*Though having enough cash on hand to be qualified may be a stretch.
Peyton Marino
Footballguy
find the next big thing before it's big.
liquidate all assets into cash.
put all of your cash in that thing.
thing becomes big.
YWIA
liquidate all assets into cash.
put all of your cash in that thing.
thing becomes big.
YWIA
Phil Elliott
Footballguy
Harry Bailey was the richest man in town but he didn't have much money.
BigSteelThrill
Footballguy
How "rich" is the guy who owns 10 of them?Wife and I have talked at length about investing in a McDonald's franchise. A friend of ours owns a couple and his dad owns something like 10. But I am concerned about the direction of fast food in this country - may end up a bad long term investment.Own and operate 8 average McDonald's franchises for 3 years.
Henry Ford
Footballguy
Become a plaintiff's attorney and get one $25m verdict.
lod01
Footballguy
That's a tough call. The normal humans stay clear of McDonalds. Their 'food' has gone south. However the subhumans that frequent McDonalds are multiplying much faster than the normal humans. So you have that as a plus.Wife and I have talked at length about investing in a McDonald's franchise. A friend of ours owns a couple and his dad owns something like 10. But I am concerned about the direction of fast food in this country - may end up a bad long term investment.Own and operate 8 average McDonald's franchises for 3 years.
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