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If you had one million dollars, would you stop working completely?

MrPrez

Well-known member
Put it in a bank. Get out of Pakistan.
I mean, if I actually got the money I'd probably actually use part of it or one of those investment visas to move to the UK or the US. I'd be there now if I could get a job/visa, but as a 24-year-old without any grandfathering capabilities there aren't many options.
 

MrPrez

Well-known member
You need to take inflation into account, and you still pay tax on dividends and interest.If you go look at the numbers a R1 million rand gets you around R 5000 a month in real terms for about 20 years before that money is gone assuming a 6% return on investment in real terms i.e 12% interest (high) subtracted by 6% inflation (low). You start eating into capital after about 12-14 years.
It's a million dollars though, not a million rand.

That said, as I mentioned in a previous post, I'm 24 so I'm sure I'm way off as my financial knowledge is still limited.
 

MrPrez

Well-known member
I'm still not sure I follow but i cba considering its a hypothetical that definitely won't happen to me lol.
 

cpr

Well-known member
If I had the means I would never work a day in my life again. Don't understand anyone who would continue to work on any level. There are so many things to do and see.
I suppose it's what you define as work really. Certainly I'd never go be employed by someone ever again. However just a million would make me conscious about the well running dry at some point. Certainly blackjack and hookers are eating into a fair chunk. I'd be looking at investing in property as a money maker, which when you think about whats going on with it (renovations, refits, renting, some other words begining with r) it does become an employment as such. Even tracking markets for investing is a kind of work in a way.

Certainly life would be at my pace, I'll go where I want, when I choose, but at the same time I'm gonna have to put a little effort in to make sure the quality of life can be kept


One of the things I'd do if I came into a medium sum (ie enough to set me up, not quite enough to retire with a new Aston Martin every other year) would be to study law then spend my time working cases for those who can't afford legal help, and have been shafted by our less than generous legal aid system - people fighting evictions, council decisions, maybe some other area's of political law. That way I could pick and choose my work, get a bit of money in from wherever, and feel like I'm giving back
 

trundler

Well-known member
Money, money, money
Must be funny
In the rich man's world
Money, money, money
Always sunny
In the rich man's world
Aha aha
All the things I could do
If I had a little money
It's a rich man's world
It's a rich man's world
 

D/L

Well-known member
Freedom from financial worries is a good thing, if honestly achieved. Work is a means to an end, not an end in itself and quite over rated. Imagine a situation where one is only given a short time to live. How many would say they wished they had spent more time at the office (or wherever)?
 

Agent TBY

Well-known member
If I had the means I would never work a day in my life again. Don't understand anyone who would continue to work on any level. There are so many things to do and see.
Yeah, this. I already only work 10-15 hour weeks and provide a more than comfortable life for myself and my family. I could work normal hours and earn way more money, but what's the point? I probably won't live to make fifty, and the family will be gone before that too.

I would jump at the chance to take a normal job overseas in exchange for a ticket out of this hellhole of a country, but that's probably the only incentive I have left.
 

cpr

Well-known member
Freedom from financial worries is a good thing, if honestly achieved. Work is a means to an end, not an end in itself and quite over rated. Imagine a situation where one is only given a short time to live. How many would say they wished they had spent more time at the office (or wherever)?
Genuinely prefer being in the office than at home sometimes. I get home and I just want to veg in front of the TV doing nothing. Not to say it takes forever to get there thanks to rush hour traffic. I actually stay an extra 2-3 hours in the office in the evening trying to do something productive on my laptop (i don't actually take that home anymore, the distraction of just monging out in front of football manager is high) or just simply reading . Then its a nice easy 15 min drive home.
My big mistake was signing up for a gym near home, not realising that 80 mins sat in the car every evening would put me in a foul mood and make me want to go home and eat chocolate. Intend to switch it to one just down the road from here in the hope i use some of that evening time to get fit instead
 

GoodAreasShane

Well-known member
If I had a spare million first thing I would do would be hire a full 18 piece orchestra just to play Sandstorm on loop all day long

I'm weird.
 

DriveClub

Well-known member
For someone living in sydney this is easy. Buy a house so that I don't have to work for survival anymore. 1 mil is not going to get me a mansion in sydney
 

Daemon

Well-known member
Out here a million would get me a decent place. A 3 bedroom condo unit 30min from the city by public transport. I’d need one room and could rent the other two out for a total of $2,000/mth (rental yield here is roughly 2-3%). That’s not even close to being enough so I’d just continue working and treat the $2k as an increment.
 

Daemon

Well-known member
Alternatively I could purchase 6 houses and a farm in NZ and surround myself with doggos for the rest of my days
 
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