- although I'd probably keep working to avoid getting bored in the winter.
@Wingboy, but the $$ would make things easier. You could renovate or move into a place that is easier for her to move around. Have better help if needed, etc.
That brings up a good point, what would do after blowing a couple of mill?
I’ve often thought what am I going to do when I get closer to the retirement. I’m lucky in a way that I love my job, the environment and people at work, been doing it for 32 years, it’s a second home. I’d still like to do a 3 or 4 day week, just to the keep the mind active and have some purpose. Both my Father and Grandfather went back to work after a couple of years of being retired.
Around 1-1.5M. Would invest the money to get 5-8% return. Quit my job and move to somewhere in Asia like Thailand where cost of living isn't much. Live off the return. Something along those lines ....
If I had that much money right now, I would mostly invest in tech and mining (not Bitcoin, but actual metal mining) stocks because that's what I know now. I don't think there can be one investment that would return 5-8% consistently, rather I don't know of one. Would involve some risk taking.What would you invest in for a reliable 5-8% return ?
Sent from my iPhone using Tapatalk
While it's nice to fantasize about a huge windfall changing your life, I think there are several factors that would dampen its effects:
70% of all lottery winners spend it all and more, ending up broke within a few years. Most people live paycheque to paycheque, spending whatever they make. This applies to all income-levels earners, not just those at the poverty level. Some of the higest-earners fall victim to "lifestyle creep", ratcheting up their spending to match or even outpace their increased earning power.
They never developed good savings habits, so winning a lottery would just be another (rather large) paycheque to spend. I'd bet that the 30% who did have good money management skills are the ones that were able to keep or even grow their winnings over time.
The average income to "buy happiness" is betweeen $60-$75K. If the idea is to put a number on a "life-changing" windfall, it might be a lot lower than you think.
If you've got the basics covered off, food and shelter, etc., there's a point that your underlying pre-disposition to happiness would re-emerge no matter how much *more* money you had. This is called "hedonic adaptation".
If you're generally a miserable SOB who is unsatisfied with having to shop at Food Basics instead of Pusateri's, no amount of money will change that. You'll just be a rich and miserable SOB who is still unsatisfied with how slow the service is at the Michelin-rated restaurant you're dining at.
Not to get all "universe being a manifestation of vibrational energy" and all, but I think "life changing wealth" is cultivating meaningful relationships with the people around you, and focusing on being happy with what you do have instead of being unhappy with what you don't have.
"universe being a manifestation of vibrational energy"
All of the premises of defining life changing are based on some sort of life expectancy estimation and realistic world order. Unless you own a crystal ball you don't know what you will need to survive in the future.
While it's nice to fantasize about a huge windfall changing your life, I think there are several factors that would dampen its effects:
70% of all lottery winners spend it all and more, ending up broke within a few years.
I cant argue with Wingboy, if you have bags of cash and cant enjoy it, they point is lost.
This is a legitimate fear I live with.
Every time I don't play the lottery, I win a buck or two, guaranteed.