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53901207 No.53901207 [Reply] [Original]

What is it like to be rich and not have to work? I just dream of having 7 figures earning interest that pays my bills.

>> No.53901562

>>53901207
depends on how much you have. It can be really boring if you have just enough to get by with a little left over each month. Say you have a million in a treasury fund earning 4.5% interest. Thats 3,750 dollars a month. Would that feed you, pay your rent and give you a lot left over to travel or buy whatever you want? No, it wouldnt. However if you had 5-10 million post tax earning interest you could live a pretty nice life not working. Anything less than 4 million you are still middle class

>> No.53901600

>>53901207
I dream of cutting the head off my boss and declaring myself the caliph of the office and take HR roasties as my wives but we all dream and dreams aren't reality. Im just a retarded engineer thats forced to spend weekends at the office without overtime pay because i live in Singapore which has horrid labour laws.

>> No.53901625

>>53901207
>Thinking you can make it on 7 figures
Lmao, it's not the 80s anymore grandpa. You're going to need 8 figures to coast, 7 figure hell is a total knife fight at the moment. You 6 figs and 5 figs wouldn't get it.

>> No.53901646

>>53901625
you can coast on 3-5 million dollars if its after tax gains. But you must own a home and have no other debts

>> No.53902196

>>53901207
it's actually kind of boring

t. retired Gen X'er who trades crypto for fun

>> No.53902247

test

>> No.53902268

>>53901600
lmao singacuck. is it that bad in singaland?

>> No.53902277

>>53901207
Depends in what situation you are rich, really. You'd live in the same life situation in which you'd be living if you weren't rich, you just wouldn't have to pay for things (in practical terms: you'd just always have the money). People ingratiate themselves to you more or they become resentful of you, because they're either greedy or because you being better off causes them discomfort. If you lived in Manhattan, say, you'd live as one would in Manhattan, with those dynamics added in. If you lived in rural Pakistan, then a life like in rural Pakistan, etc.
You'd also tend to become fearful of others. "Will they steal from me?", "Do they just love my money?", and questions like that will haunt you. People who really like you for your personality will remain, but even with them, it'll be a point of tension. It's a bit like a curse (in you being "bewitched" to always sperg out "about the fucking money" - bit of a weird metaphor, I know).

>> No.53902281

>>53901562

3.75k a month is quite a lot when you dont have to save any of it. i make 250k a year and my typical expenses are about 4k a month as a single guy and i live great.

>> No.53902551

>>53902277
>You'd also tend to become fearful of others. "Will they steal from me?", "Do they just love my money?"

This is why you just larp as a day trader or WFH person or whatever. Make people think you have a job, albeit a very flexible and independent one, so they don't know you have a bunch of money. People are gullible and will believe what they want to believe. I'd never tell someone I was living independently off my savings or investments. I'd ALWAYS tell them I am working even if I am not and just make up excuses on "I have a lot of leave" or "I work at nights" or whatever. People don't care and won't really ask

>> No.53902706

>>53901625
Youre a fucking idiot

Low 7 figures is FIRE. 2-2.5 million is all you need. Want to supplement that income? Go do uber one day a week or blog or some shit

Yea it’s still middle class but it’s freedom. And enough to vacation, travel abroad, etc. if you have a paid for house then you need even less than that

>> No.53902724

>>53901646
Wrong.

2 million with a 4% withdrawal rate is $80,000. Remember in this scenario you aren’t saving for retirement. So it’s equivalent to a 100k+ regular salary. And yes long term the above keeps up with inflation. If you can’t live EASILY on that you have problems

>> No.53902799

>>53902281
250k is a lot if you live in bumfuck Midwest. 250k is basically poor if you live in a costal city