Suppose you win 100 million. What do you actually do with it? Banks only guarantee 250,000. Do you have to invest it? Is there anywhere you can just let it sit and draw interest?
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Two million is hardly anything for retirement. If you’re in your 50s then that’s only 66k a year until you’re 80. Unless you’re about to die that’s an absolute pittance. If you’re younger then that’s even less per year. You can’t think of retirement as “oh I only need this much money”, you have to think of it as paying yourself your yearly salary until you die. Life expectancy has massively gone up, so has inflation. If you live to 65 in the USA you have an average extra expected years of 15-20, so up to 85 years life expectancy in certain states. If you’re retiring at 30 you’ll be looking at 55 years of paying yourself. If you want a decent “salary” you’re looking at at least 5.5 million.
What? $66K in the USA is more than most. It can be a really great life. How the fuck can $66K be a pittance?
Editing to add: Real median household income was $70,784 in 2021
Just a reminder that !personalfinance@lemmy.ml exists in case people want to discuss this kind of questions
Thats only for people who want to live like paupers until they can die
Two chick’s at the same time.
Those are some expensive chicks
More than once I bet
Keep trying to bring down the patriarchy!
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I’m pacifist. You can only find peace through peaceful actions.
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fund guerrillas?
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If you have any decency, get rid of most of it, preferably to charities or political causes.
That sort of wealth in the hands of a single person is obscene, and spending it on luxury when there are people starving and homeless in the world is the height of immorality.
Charity exists so that rich people can pretend to help, but also get to be a petty tyrant. Charity is scam.
I would buy me an American senator. Always wanted to have one.
Only need somewhere around 250k for that, you may as well go big.
The real answeris, get in contact with the accountants of other people who have 100mil and have them take care of it. I’d probably squirrel away some in precious metals just in case. Also, I would not post a single thing on the Internet about the fact that I’m rich.
So, you’re rich?
I wish
Finally get rid of the biggest barrier to a better world for at least 300million people, primary/buy-out every single politician of the democrat party to ensure the things that are ostensibly in their platform are actually enacted. Also ensure that every single current non-elected neo-liberal “policy wonk” and their sycophants never have any influence in any future government again.
