How long could you live off 1 Million dollars
- Thread starter KingTxo
- Start date
Rest of my life
Move to somewhere cheap and live a decent life
Move to somewhere cheap and live a decent life
blockburna420
Consecutive thumbs up
After buying a new crib i would still say the rest of my life. I've stretched 50k for 2 and a half years. 
Fillerguy
Veteran
The rest of my life. I spend less than 1000 a month, excluding my bills, on myself. 1k a month for the next 40 years is going to be less than 500k. Could stretch it even longer in say DR or Costa Rica.
In today’s world, it’s not a lot of money tbh.
But if I can lay my hands on $1million cash - I’m investing everything within a week & I’ll continue living how I’m living.
But if I can lay my hands on $1million cash - I’m investing everything within a week & I’ll continue living how I’m living.
Live yes, thrive, very unlikely.
Go live out in the middle of nowhere, buy a house, live of the land. Max out you Roth IRA every year. And theoretically you could survive for the rest of your life.
If you want to thrive do the same thing but invest in yourself and get a high paying job and work for 20-30 years and you could take 2-3 expensive vacations a year and still have FU money.
Go live out in the middle of nowhere, buy a house, live of the land. Max out you Roth IRA every year. And theoretically you could survive for the rest of your life.
If you want to thrive do the same thing but invest in yourself and get a high paying job and work for 20-30 years and you could take 2-3 expensive vacations a year and still have FU money.
IsThatBrothaMouzone?
Veteran
OP said you can't invest the money and you can't have other income streams (jobs, side hustles etc).
So the question is, how long can you live on $1 million cash without being able to add to the pot or make the money grow?
My current HHI is around $160k maybe $170k but that's gross. So, I'd probably budget for $10k/month = $120k/year tax free....taking home a bit more money and that should last 8+ years.
Or......spend $400k on a crib and then spend the remaining $600k over 5 years at $120k/year.
So the question is, how long can you live on $1 million cash without being able to add to the pot or make the money grow?
My current HHI is around $160k maybe $170k but that's gross. So, I'd probably budget for $10k/month = $120k/year tax free....taking home a bit more money and that should last 8+ years.
Or......spend $400k on a crib and then spend the remaining $600k over 5 years at $120k/year.
R.E.N. Spells Ren
Veteran
You don’t need to be “frugal” to make $1M last 5-10 years. You Coli brehs stay killing me with this shyt. 
Sir Richard Spirit
Superstar
this.. people have let people trick them when they say a million dollars ain’t no money..
Give me 1 million and my kids would eat after I die.
at 1 million cash not being a lot of money.
That's $50K per year for 20 years.
I don't make that now. I have made a little over that for a several year stretch, but my average is prolly well below $50k
I have always had my own car, own crib (with chicks often enough tho). I've been to almost all 50 states and on a couple cruises.
Me personally I could cut the $50K to like $30K cause I live in a paid for house. If shyt got grimy and I had to dig deep.. I could likely scrape by on $1500 per month or so.
If I got $1MM in my real life situ I would keep working and try to forget I had it. Definitely invest in something super safe for a few points. A $million can last a lifetime for sure.
1% of a $million is $10K. If you can muster 5% on investment, then there's your $50K right there. And never touch the $milly
I don't make that now. I have made a little over that for a several year stretch, but my average is prolly well below $50k
I have always had my own car, own crib (with chicks often enough tho). I've been to almost all 50 states and on a couple cruises.
Me personally I could cut the $50K to like $30K cause I live in a paid for house. If shyt got grimy and I had to dig deep.. I could likely scrape by on $1500 per month or so.
If I got $1MM in my real life situ I would keep working and try to forget I had it. Definitely invest in something super safe for a few points. A $million can last a lifetime for sure.
1% of a $million is $10K. If you can muster 5% on investment, then there's your $50K right there. And never touch the $milly