Here's $100,000 tax-free.

[Occulus]

At your current standard of living, how long would you be able to maintain your lifestyle- whatever that may be- on that $100,000?

Assume all debts are paid. I know that's not terribly realistic for many of us (mortgage, medical debts, school loans, etc.), but play along anyway.

For me, I'd say not more than three years. That scares the purple piss out of me, because I used to think a hundred grand in cash was a lot.

As it turns out, that's just not so. What about you?

[dkf]

1. 3 years is about right.

2 million to retire.

[sandnsea]

2. All debts paid?

Ten years at least, maybe longer. If I invested it and it worked out well? A lot longer.

What in the hell do you do with $2500 a month?

[notadmblnd]

12. What do you do with 2500.00 a month

no debt outside house:

House payment 449.28
House ins 100.00
Taxes 200.00
cable 120.00
gas 140.00 in winter, in Michigan conservative estimate
Elec 140.00
water 33.50
car insurance 187.00
phone 180.00
_______
1549.78
Gas for car 500.00 School and work (2 jobs)

That leaves 450.00 for food, clothes, personal items emergency repairs to car or appliances, home maintenance and entertainment.

You have seen the very very conservative monthly budget for me, my son and an unemployed sister.

When was the last time your investments were doing well? I had 50k in bank, 20k got sucked out into thin air, the rest I pulled out and rolled over into a down payment on a 85k house. Granted, If the house were paid off too, I would have an extra 450.00 a month. Maybe we could use that to pay office visits for the Dr. once a year?

[sandnsea]

13. "assume all debts are paid"

Including your doctors visits. That's how I read the OP.

Did I miss something?

[RandomThoughts]

3. My current living situation is unacceptable, as I see it :)

So not able to answer that question.


Although with 0 or millions I will hope to try to be the same person, although I have heard that is a difficult thing to do.

Side note, I would want to pay taxes on it.

[realisticphish]

7. the problem with millions

is that it seems to go quickly to zero, based on what I've seen from lottery winners


I suppose a lot of that is "I won the lottery! Time to quit my job!" without realizing that $1 million does a LOT but may or may not set you for life, and that assumes you're living at a fairly middle-class level, and not "NFL star" levels.

[RandomThoughts]

11. I was talking about worldly concepts about dollars and money

I find that I can think on both, but one has no type of measurements like money in my view.

I have never really figured out the money stuff, I mostly spend without much thought what I do have. Hence why for me, dole never works that well, since it does not change my zip code. It is the material position in my life that I find unacceptable. And that in itself is really interesting.

The other stuff in life I find really great, many great things to see, although in my view, it does not have a money concept with it.

Its like seeing life with two ways to see it, material, and spiritual. Although I can be wrong many times, the spiritual stuff has always been unlimited, and has nothing to do with money concepts. While the money stuff is something completely different.

Thats how I see it.

Thats not exactly correct, it is more that below some level of financial resources, all resources are the same, so have no value. That is more accurate.

[Hello_Kitty]

4. At my current lifestyle and with no other debts it would last me 8 years.

Without the expense of housing $1000 a month would take care of me.

[hfojvt]

9. I was figuring some housing expenses

even with my mortgage paid off I still have to pay taxes, and sometimes insurance, and utilities. The first two are about $150 a month and the others fluctuate. Figure about $90 a month for gas and electric and $35 a month for water, sewer and trash.

[realisticphish]

5. 10 years

though that requires I get a roommate again. Without a roommate, maybe 6-8 years, something like that.

I wonder what it'll be like when I get a real job? Basically like winning the lottery, I would think.

[hfojvt]

6. with a 5% interest rate, about twenty years

assuming I am not buying health insurance. At current interest rates, about twelve years.

[Frank Booth]

8. 8 years at least

that's assuming I can't get interest or invest it.

[MrScorpio]

10. Five years

Location, location, location

[Jamastiene]

14. Maybe six years, assuming no major damage happened to the

house that needed major repairs.

Even at that, I'm not 100% sure other unintended expenses might come up.

Of course, I live in an area with a lower cost of living, overall. To be on the safe side, I would say 5 years.

[Q3JR4]

15. Well student loans and a credit card

make up around 25% of my debt. With both of them out of the way, I'm looking at total costs of around $415 a month.

I don't have a car (no gas or insurance) and I don't have anybody to support but me, so food costs wouldn't come to much. If we're generous say $300.

With no bills I could live my current lifestyle at around $800 a month, thus with $100,000 I could live for 10 and a half years.

If, on the other hand, I had to continue to pay all of my bills, that same $100,000 would last me around 9 years.

Q3JR4.

[Subdivisions]

16. If I stayed put and spend no more than I spend now, it would last me 7 years. n/t

[Scuba]

17. Not long, It takes $384,000 a week just to maintain my yacht....

...Paul Allen, co-founder - Microsoft

[Vinca]

18. If all debts were paid I could probably stretch it out to 5 years.

The biggest expenses would be property taxes and utilities - otherwise I can be very frugal. Oh . . . wait . . . I would be tempted to buy health coverage if I had money. Make it a couple of years.