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Can I live off of interest on $100 Million for life?

Discussion in 'General Mindset, Motivation, Beliefs' started by FastLaner007, Oct 25, 2018.

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  1. Arrived2015
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    Arrived2015 Contributor

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    Curious...

    Why is that sum so concerning for you?
    ________

    biophase's response is the reason for my curiousity especially as I agree with:

    I'm thinking unless you project to go from $0 to $100m within days, during your journey to your $100m target, it's impossible to avoid paying taxes (and more). Consequently, because those sums ($1mto$99m) are in the middle you'll have the answers to your questions by the time you reach $100m.

    Am I thinking wrongly?

    Isnt it, by the time you arrive at $100m, you'll be experienced enough to be able to tell us the answers here or correct those on Quora?


    Perhaps the guys who have arrived at your target figure of $100m (and beyond) are the best ones to motivate you in what to expect and answer you best.

    Similar to visiting a country you've never been before and wanting to take part in an activity of climbing their known treacherous mountain. Will you take advice and follow a local who has never climbed the mountain therefore being hypothetical with the best way for you both to climb to the top (peeps on forums or Quora)

    OR

    seek a trained recognised guide who because they have completed the climb so many times, they can do it in their sleep? (guys/experts you refer to)


    Worry is the interest you pay on a debt you don't owe. ;)
    Source: Unknown
     
    FastLaner007, SMH, Roli and 1 other person like this.
  2. GoGetter24
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    GoGetter24 Silver Contributor Speedway Pass

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    What percentage of that sum do you currently have, OP?

    Why people entertain these time wasters is beyond me.
     
    Real Deal Denver likes this.
  3. Roli
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    Roli Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    You know what? I don't think your question is stupid, and I get why you didn't 'just Google it'.

    The whole point of this forum is that there are people who have, or are close to making that kind of dough. So why not get answers from the horses mouth?

    To answer your question, that's a clear yes. Especially if you've already bought the house(s) you want to buy and you're happy living below your rather vast means.

    I personally know that with that kind of money, I probably wouldn't spend more than $200,000 per year.

    So that's 500 years before my $100 mil runs out without any interest at all.

    Basically as long as you don't have the mentality of a sidewalk millionaire, $100,000,000 will last you, your family and your descendants for a long time to come.

    Good luck getting there, hope this motivates you that tiny little extra bit!
     
    Lex DeVille and FastLaner007 like this.
  4. RichieG
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    RichieG Contributor

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    Kanye West, Jay Z..........
    Lebron James, Kobe Bryant
    Mark Zucherberg, Bill Gates

    These make millions and billions but can you break into their field?

    What is your field? Affiliate Marketing?
     
    Xeon likes this.
  5. Suzanne Bazemore
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    Suzanne Bazemore Act until echo. Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER

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    I think calculating if you can live off future earnings can be extremely motivating and eye-opening. It was for me (unfortunately the figure I was using wasn't $100 mil).
     
  6. 100k
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    100k Gold Contributor Read Millionaire Fastlane Speedway Pass

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    [​IMG]

    [​IMG]

    [​IMG]

    I feel like punching the OP.... but..... wooooosaaaaaaa.
     
  7. MJ DeMarco
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    MJ DeMarco Raving Lunatic Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    Admin Post
    There are people who live off $500,000 in savings. Granted they live in tents and call themselves minimalists, but it being totally FREE (subjective) can be done relatively inexpensively if you have your housing situation taken care of.
     
  8. Suzanne Bazemore
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    Suzanne Bazemore Act until echo. Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER

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    And think of how many people try to do just that. For people with jobs, like me, it's hard to even save $500K. It would be especially difficult for people with $100K of debt that they're actually paying someone else 10% interest on.
    This Is How Much Debt the Average American Has Now—at Every Age
    When I stumbled across TMF this past summer, I was actually trying to be frugal and save my way toward investing in properties. Then I read TMF and recognized myself in the definition of a Slowlaner trying to Scrooge my way to the Fastlane. What fun.
     
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  9. GoGetter24
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    GoGetter24 Silver Contributor Speedway Pass

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    How do these threads make it to 3 pages? Just tell systemic losers like these to f*ck off and hit the ignore button.

    Loser's been here since 2014 too. Done anything except wank since then OP? There should be an automatic ban on douchebaggery like this.
     
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  10. Real Deal Denver
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    Real Deal Denver Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    Let's take it up a notch! Let's talk serious money!

    tenor.gif
     
  11. ChrisV
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    ChrisV Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    This question is absurd. Of course you can live off the interest. You can live off $5/day if you want. And this is so lazy. Pull out a calculator and sere how much that will be per year. Can you live off it? WE DON’T KNOW YOU. You can live off $0 if you go live with your parents. It depends on your spending habits and interest. What the f***.
     
    Dramolion likes this.

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