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If you had X amount of money, you'd never work again (pg. 2)
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| b4k-oz |
| quote: | Originally posted by d!abolic
If you've got money and a good imagination, you can very easily keep yourself highly occupied for the rest of your life without ever working again. Trust me, there are so many things to do, places to see and people to meet out there! With that said, i voted 20-35 million. This amount of money would be enough for me go anywhere and do anything for the rest of my life. |
I so agree with your numbers. I think to be safe I'd have to say 27 mil. Well if your into numerology, that adds to 9 which is a number of completion in a cycle. That's if your into that sh^t.
But seriously, I know someone who won the 7.5mil a few years back. You know how they say that lotteries are tax free.....Don't believe it. Come year end, if your money was sitting in a bank, you HAVE TO pay taxes on that money. This person I know, lost in the 1st year alone, 3 mil. How, well it was a combined effort of bad investments, advice and shyster lawyers, accountants and banker fees. Now that doesn't mean that he lost it all...the following year....bcuz by the next year end, he got wise and invested in the only thing that's a sure shot-->acquiring real estate as assets and using that as collateral to bank roll R.E. development projects which do bring in a nice comfortable living. So the moral of this little story is...anything below 27 mil won't get you very far, you have to go through heavy losses and lessons for the first 2 years before you get your bearings and forge a comfortable (not lavish) life.
imo, a lavish life is a very vain way of accomplishing a meaningful existance. You'll definately live better, enjoy more and be remembered if you do good things for others once your able to aford it. Just my opin :D |
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| starsearcher |
So that i'll never have to work again...damn with the lifestyle i think only 100+ will be enough...I'm a big spender -- International spender lol :toothless
Thus I'll keep on working towards my fortune :thepirate |
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| St_Andrew |
| quote: | Originally posted by Durafei
Well, i'd probably work again regardless of how much money I would have. |
same here, although i would probably not work as much (a lot more vacations etc)... but i would still work :)
edit:
voted 100+ btw ;) |
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| Provitex |
I'll always be a designer...
100+ or not ;) |
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| StereoPrincess |
i would work no matter what.
my brain would turn to mush if i didn't.
i would probably start a biotech company and create a lot of jobs for scientists.
also i would throw awesome parties. |
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| starsearcher |
| quote: | Originally posted by StereoPrincess
i would work no matter what.
my brain would turn to mush if i didn't.
i would probably start a biotech company and create a lot of jobs for scientists.
also i would throw awesome parties. |
You can work on your Big Yaht...or a nice garden to your mansion :stongue: Jokes...
but yeah youre right I am the kinda person that just can't sit still for too long i'd go insane... |
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| Crazy Serb |
| quote: | Originally posted by St_Andrew
same here, although i would probably not work as much (a lot more vacations etc)... but i would still work :)
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Oh yeah, I would still work as well...
...maybe an hour a day or so. |
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| LoCa |
| I'd say 100 + but then again i think i'd keep working anyways. It would feel weird not to work... get bored too easily. |
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| trancehed99 |
Believe it or not no amount of money would keep me from working.
an idle mind is the devils workshop.
I wouldnt work for a company for like a job, but Id always have my own goals to reach. and with that kind of money, Id own multiple business and that would be my work.
its like donald trump, hes got tonnes of cash but he works everyday.
basically if I had 500 000 I'd be comfortable to do what I wanted for the rest of my life. |
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| PartyHarlequin |
I concur, private banking is awesome, I love it! :)
| quote: | Originally posted by rabbitjoker
A few ways would help me turn at least 20 points:
1) Private Banking
Every major bank has a private banking unit that you get to work with when your net worth is high (anywhere from $750k to $1.25 mil - depending on the bank).
Private Banking in the . Why? First you don't wait in regular teller lines to meet a teller - you have 1 point of contact at the bank (usually in private offices) who you deal with. Not only is it this person's job to manage your day-to-day banking - but also to help you increase your wealth (more wealth for you, more money for bank). These private banking managers will do everything from sell your house, arrange auction buys, etc, etc - but they will also keep a day-to-day look at all your investments and get experts involved in managing your money for you. Private Banking managers talk to you daily (and thus watch your money daily).
2) Leverage
Have a million in (liquid) assets?? Leverage them. How? Borrow against them to invest ($1 mil. turns into $1.5 mil) {some call it margin}. Start working option's on stocks/commodities (puts/calls). Seriously look at hedge funds (with class A units, not regular fund units).
3) High Return Funds
Believe it or not - but I know of 2 mutual funds that have returned a MINIMUM of 15% per annum (after MER is deducted) EVERY YEAR for the last 10. 1 of those funds has returned over 20% (after MER) for 5 of those 10 years (and that same fund turned at least 30% from 1998 to 2000).
4) Donations (to decrease income/tax - thus boosting return)
Isn't CCRA nice? They let you deduct the full MARKET VALUE of donations (even if you didn't pay market value for the donation). There are a number of options in this respect - but usually they work out to a $1000 (cost) investment equating out to a $10,000 (market value) donation - talk about ROI!
If you wanna hear more, pm me. |
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| Orko |
| i would always work, although they would more of hobbies, but still they are jobs which we have today...but they would be the things i have always wanted to do, but never could...like start a race car team |
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| starsearcher |
| quote: | Originally posted by Orko
i would always work, although they would more of hobbies, but still they are jobs which we have today...but they would be the things i have always wanted to do, but never could...like start a race car team |
Call me up for that one, we'll head straight to the Formula 1 Circuit |
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