Welcome Guest
Log In | Register )
You last visited December 3, 2016, 12:35 pm
All times shown are
Eastern Time (GMT-5:00)

Living off of winnings VS living off of interest.

Topic closed. 53 replies. Last post 6 years ago by rdgrnr.

Page 4 of 4
PrintE-mailLink

How much money would you need to live off of without investing?

$500,000 [ 10 ]  [12.05%]
$1,000,000 [ 3 ]  [3.61%]
$5,000,000 [ 12 ]  [14.46%]
$10,000,000 [ 7 ]  [8.43%]
$20,000,000 [ 13 ]  [15.66%]
$50,000,000 [ 17 ]  [20.48%]
$100,000,000 [ 6 ]  [7.23%]
$1,000,000,000 [ 15 ]  [18.07%]
Total Valid Votes [ 83 ]  
Discarded Votes [ 7 ]  
savagegoose's avatar - ProfilePho
adelaide sa
Australia
Member #37136
April 11, 2006
3300 Posts
Offline
Posted: October 10, 2010, 12:28 pm - IP Logged

and with inflation eating away at the purchase power of cash it wouldn't be a good idea ot stash cash , letting inflation eat it away, if not taking it over seas, putting it into gold or other precious or commodities, a tip  inflation linked treasury bond might be a no loss way to store the wealth.

all i can say is its a prob id happilly try to deal with

2014 = -1016; 2015= -1409; 2016 JAN = -106; FEB= -81; MAR= -131; APR= - 87: MAY= -91; JUN= -39; JUL=-134; AUG= -124; SEP = -123; OCT= -84  NOV=- 73 TOT= -3498

keno historic = -2291 ; 2015= -603; 2016= JAN=-32, FEB= +12 , MAR= -86, APR = -77. MAY= -48, JUN= -29, JUL=-71; AUG = -52; SEPT= -43; OCT = +56 NOV = -33 TOT= -3297

    Avatar

    United States
    Member #94616
    July 24, 2010
    4735 Posts
    Offline
    Posted: October 11, 2010, 8:33 pm - IP Logged

    Details that I worked out. I found a nice piece of property for residental in Wyoming, 75 acres 2 miles out of Sundance WY.  Would offer convenience yet enough remoteness to make me happy. If I had millions I figure that I could afford to get 2 miles of cable layed. Otherwise, a bit slower, many areas that have telephone, also have DSL. Sattelite Internet, just plain sucks. High speed is only one way, and after you use too much bandwith they slow you down.

    For power, I would probably start with 50 KW of solar, and would get some big battery system for at night. Any wind power would be a kicker. Also there are solar thermal panels for hat water. To reduce need for power, I would look into energy efficient appliances and lighting.  But I would also have some extra demand things like an indoor pool, a couple of plug in hybrid cars, I really love the new Tesla S all electric car coming out. And the Polaris all electric ATV,  Ranger EV. And add super insulation for reduced heating/cooling, passive heating/light, and geothermal for additional heating/cooling.  If I need more heat beyond that a nice wood burner would heat the house. Add to that rain water collection, greywater collection, and a huge cistern. Hmmm, what else, Stranded Bamboo where I would use hardwood for floors, and recycled glass where I would use granite or marble. Vast pavers for my driveway.

    For Iowa farmland you want GOOD farmland. Avoid farmland that will get flooded and get good quality soil, which goes over $8,000 an acre. Iowa farmland went up in value even while the markets were crashing. For a farm, it probably be better to be on the grids. BUT one one of the newest ways to create power is by burning methane off manure from cows. Check the Crave Brothers farm in Wisconsin. Usually some sort of power generating requires expert help in putting it up. Affordable Solar has a nice web site with example systems. My dream Solar setup would be a 250 KW setup, which would power a bunch of the world. 

    I would NOT want to live in Iowa, the land would be rented out for investment. Iowa has taxes, and boring! I want mountains!

    MarkP

    Great to see someone talking about solar & wind power.  If more 'rich' people started investing/using that technology we "ALL" would benefit.  

    This is also the kind of set up I would spend money on.  

      psykomo's avatar - animal shark.jpg

      United States
      Member #4877
      May 30, 2004
      5114 Posts
      Offline
      Posted: October 11, 2010, 9:49 pm - IP Logged

      So I made an Interest Analysis in Excel showing how much interest I will earn at different APRs and different initial deposits. Then I thought about how much money I would need to live off of without ever having to work or earn interest from investing.

      Think of the tax benefits of not investing. You would only have to pay income tax for the initial winnings for the year you win in and nothing else after that because you won't be working or have any kind of earnings.

      It would need to be a large amount to do it but how much would YOU need?

      thank u 4>>>>>>>>>>>>this^^^^^^^^^^^^^^POLL>>>>>>>>>>>>>>>>>>>>>>>>!!!!!!!POLL^^^!!!!

      I voted  4>>>>>>>>>>>>$1,000,000>>>>>>>>>>POLL>>>>>>>rrrrrrrrrwas D>>>>>>>big ##POLL^^^!!!

      1ooo,ooo,ooo>>>>>>>>$1,000,000,0000>>>>POLL>>>>>>(ur not tonk'SOCIAL SECURITY}}<<<!!

      R U trying 2 INSULT UR congere$$man'$$$$$$RETIREMENT??????!

      PLEASE let THEM know>>>>>>>>>>>>>>>>>>>>>>>>>>>!!!

      U>>>>>will NOT<<settle 4 "crumes"!

      Jack-in-the-BoxPartyBananaHyperWhite BounceWhite BounceWhite BounceWhite BounceWhite BounceWhite BounceWhite BounceWhite BounceWhite BounceWhite Bounce

        psykomo's avatar - animal shark.jpg

        United States
        Member #4877
        May 30, 2004
        5114 Posts
        Offline
        Posted: October 12, 2010, 7:48 pm - IP Logged

        thank u 4>>>>>>>>>>>>this^^^^^^^^^^^^^^POLL>>>>>>>>>>>>>>>>>>>>>>>>!!!!!!!POLL^^^!!!!

        I voted  4>>>>>>>>>>>>$1,000,000>>>>>>>>>>POLL>>>>>>>rrrrrrrrrwas D>>>>>>>big ##POLL^^^!!!

        1ooo,ooo,ooo>>>>>>>>$1,000,000,0000>>>>POLL>>>>>>(ur not tonk'SOCIAL SECURITY}}<<<!!

        R U trying 2 INSULT UR congere$$man'$$$$$$RETIREMENT??????!

        PLEASE let THEM know>>>>>>>>>>>>>>>>>>>>>>>>>>>!!!

        U>>>>>will NOT<<settle 4 "crumes"!

        Jack-in-the-BoxPartyBananaHyperWhite BounceWhite BounceWhite BounceWhite BounceWhite BounceWhite BounceWhite BounceWhite BounceWhite BounceWhite Bounce

        12 people on dis POLL R greedy & should run 4 CONGRESS

        {01} person on dis POLL R a LIER & should run 4 SENATE!

        GO finger it OUT>>>>>>>>>>>>>>>>>>>>>>>>>>>>>???!White BounceWhite BounceWhite BounceWhite BounceWhite BounceWhite BounceWhite BounceWhite BounceWhite BounceWhite BounceWhite BounceWhite BounceWhite BounceWhite BounceWhite Bounce

        VOTE>>>>>>4>>>>>>>JOB's 4 >D>chillion$$

          Colt45ML's avatar - 4eyes
          Jawja
          United States
          Member #87469
          February 25, 2010
          109 Posts
          Offline
          Posted: October 13, 2010, 4:46 am - IP Logged

          Singapore is in your neighborhood.  Their dollar is backed 100% with gold.  Plus, they have the fastest growing economy in the world.  An extraordinary financial center in every way.  If there is a downside, they don't like juviniles marking up their walls with graffiti.  I'spect five good whacks on the bare backside stings a bit.Shocked

          Be sassy and be happy.

            Avatar
            Milwaukee, WI
            United States
            Member #3131
            December 27, 2003
            665 Posts
            Offline
            Posted: November 4, 2010, 11:05 pm - IP Logged

            Great to see someone talking about solar & wind power.  If more 'rich' people started investing/using that technology we "ALL" would benefit.  

            This is also the kind of set up I would spend money on.  

            Sometimes it just becomes a competition....

            Who can be the greenest kid on the block....

            Last I heard, Larry Hagman had the largest home solar system at 103KW.....

            *I* would want to have the biggest....

            500 KW would require  2173   230W panels....

            Or 7,243 FT wide of solar panels...

            Stack the 7 rows high it makes it 1034 feet wide...

            Divide that into 3 racks would make the rows 345 ft wide by 39 feet high.....

            And $1,234,481 for just the panels alone...

            Now THAT would be cool! That would be over 2 MWH of power per day...

            Now I need the big lottery for that.

            It's more than just being green, it would be being totally self sufficient if necessary.... 

            MarkP

              rukiafae's avatar - box
              NC
              United States
              Member #100192
              November 7, 2010
              125 Posts
              Offline
              Posted: November 8, 2010, 8:20 pm - IP Logged

              hubby said $5 million and live a modest lifestyle (that friggen japanese simplicity crap! LOL)

               

              i say im already living a modest lifestyle and know what that is like so maybe i would like more (that friggen american materialism LOL) so I would say $50 million.

                tiggs95's avatar - Lottery-036.jpg

                United States
                Member #47420
                November 4, 2006
                3930 Posts
                Offline
                Posted: November 8, 2010, 9:32 pm - IP Logged

                hubby said $5 million and live a modest lifestyle (that friggen japanese simplicity crap! LOL)

                 

                i say im already living a modest lifestyle and know what that is like so maybe i would like more (that friggen american materialism LOL) so I would say $50 million.

                Friggen A..Now let's get friggen lucky and go out and buy some friggen lucky numbers..We friggen hit we can all go to friggen Tenn and get friggen drunk with friggen ridge and Sugar Britches..What you fruggen say??...After thie tiggs is friggen tired..

                  rdgrnr's avatar - walt
                  Way back up in them dadgum hills, son!
                  United States
                  Member #73904
                  April 28, 2009
                  14903 Posts
                  Offline
                  Posted: November 11, 2010, 4:25 am - IP Logged

                  Friggen A..Now let's get friggen lucky and go out and buy some friggen lucky numbers..We friggen hit we can all go to friggen Tenn and get friggen drunk with friggen ridge and Sugar Britches..What you fruggen say??...After thie tiggs is friggen tired..

                  Sugar Britches don't drink but bring her share anyway and I'll drink it.

                  Just make sure you stop in Lynchburg and get genuine Tennessee Whiskey.

                  Don't be bringin me none o' that cheap Kentucky Bourbon, tigger.

                  Ah cain't drank thet friggin stuff.


                                                               
                                       
                                                           

                   

                   

                   

                   

                                                                                                                     

                  "The only thing necessary for evil to triumph is for good men to do nothing"

                                                                                                              --Edmund Burke