Message Board Basketball Forum - InsideHoops

Go Back   Message Board Basketball Forum - InsideHoops > InsideHoops Main Basketball Forums > Off the Court Lounge

Off the Court Lounge Basketball fans talk about everything EXCEPT basketball here

Reply
 
Thread Tools
Old 05-30-2013, 03:28 AM   #1
tgan3
Local High School Star
 
Join Date: Dec 2007
Posts: 1,875
Default How much money do you need to earn before you feel satisfied?

I probably be satisfied with 5 million.

I will use 1 million for a super car.

4 million to invest in houses and collect rent so that I have a perpetual income.

Use the rent money for food/entertainment
tgan3 is offline   Reply With Quote
Old 05-30-2013, 03:43 AM   #2
Cali Syndicate
College star
 
Cali Syndicate's Avatar
 
Join Date: Aug 2011
Location: New York
Posts: 3,756
Default Re: How much money do you need to earn before you feel satisfied?

I'd say a 6 figure salary is satisfactory.
Cali Syndicate is offline   Reply With Quote
Old 05-30-2013, 03:50 AM   #3
Königspinguin
LandValueTax=Future
 
Join Date: Apr 2013
Location: Locked self out of ISH. BYE!
Posts: 401
Default Re: How much money do you need to earn before you feel satisfied?

"Earning" money stops for most people in the millions. The most of them just own privileges and don't actually contribute to the economy with wealth production. They own land, or they own spectrum allocations, or they own minerals, or they own patents and copyrights, or they own slaves. It's all idle taking from what others create with very little "earning" involved.
Königspinguin is offline   Reply With Quote
Old 05-30-2013, 04:31 AM   #4
macmac
Gov'n
 
macmac's Avatar
 
Join Date: Jun 2006
Posts: 4,775
Default Re: How much money do you need to earn before you feel satisfied?

Quote:
Originally Posted by tgan3
I probably be satisfied with 5 million.

I will use 1 million for a super car.

4 million to invest in houses and collect rent so that I have a perpetual income.

Use the rent money for food/entertainment

So you're gonna put 20% of your money into a devaluating toy and the rest in one fluctuating domain instead of diversifying your portfolio. I would warn you about the pitfalls of such poor decisions if your remarks didn't have me convinced that you don't have the capacity to ever face such financial dilemmas.
macmac is offline   Reply With Quote
Old 05-30-2013, 05:04 AM   #5
BlazerRed
Teen heartthrob
 
BlazerRed's Avatar
 
Join Date: Apr 2013
Location: Rocky Mountains
Posts: 9,179
Default Re: How much money do you need to earn before you feel satisfied?

Quote:
Originally Posted by macmac
So you're gonna put 20% of your money into a devaluating toy and the rest in one fluctuating domain instead of diversifying your portfolio. I would warn you about the pitfalls of such poor decisions if your remarks didn't have me convinced that you don't have the capacity to ever face such financial dilemmas.
Boom.
BlazerRed is offline   Reply With Quote
Old 05-30-2013, 06:12 AM   #6
Orlando Magic
Decent college freshman
 
Orlando Magic's Avatar
 
Join Date: May 2007
Posts: 2,737
Default Re: How much money do you need to earn before you feel satisfied?

Quote:
Originally Posted by macmac
So you're gonna put 20% of your money into a devaluating toy and the rest in one fluctuating domain instead of diversifying your portfolio. I would warn you about the pitfalls of such poor decisions if your remarks didn't have me convinced that you don't have the capacity to ever face such financial dilemmas.

The car comment was stupid. Investing the entirety of the remainder into housing was also stupid... but to act as if now is still not a prime opportunity to invest in housing is ludicrous...

Unless you are able to foreshadow one of two things...

1) The entire collapse of the US dollar. The only reason this hasn't happened yet, imo, is it's still the world standard. Once the rest of the world goes away from it... goodbye. Will they? When will they? Bigger questions. But if that were the case this guy'd, along with the rest of us, have much bigger problems than his wasted investments.

2) Nuclear war.


If you can't foreshadow 1 or 2, it's pretty disingenuous to insinuate that investing in housing is an extremely poor decision because of the potential "pitfalls". lol. If you wan't to say it's because he took ALL of his money and put it there, then... sure, I'd agree.
Orlando Magic is offline   Reply With Quote
Old 05-30-2013, 12:17 PM   #7
Stuckey
ifirtworld
 
Stuckey's Avatar
 
Join Date: Oct 2010
Location: igloo
Posts: 7,633
Default Re: How much money do you need to earn before you feel satisfied?

3 million

enough to retire and get the kids through college
Stuckey is offline   Reply With Quote
Old 05-30-2013, 12:21 PM   #8
chosen_one6
Earned not given
 
chosen_one6's Avatar
 
Join Date: Jun 2012
Location: San Diego
Posts: 3,143
Default Re: How much money do you need to earn before you feel satisfied?

I'd be good with a cool million. I would find ways to multiply it.
chosen_one6 is online now   Reply With Quote
Old 05-30-2013, 12:31 PM   #9
longtime lurker
Very good NBA starter
 
Join Date: Jun 2011
Posts: 8,665
Default Re: How much money do you need to earn before you feel satisfied?

Money's like ****** you can never have too much
longtime lurker is offline   Reply With Quote
Old 05-30-2013, 12:41 PM   #10
macmac
Gov'n
 
macmac's Avatar
 
Join Date: Jun 2006
Posts: 4,775
Default Re: How much money do you need to earn before you feel satisfied?

Quote:
Originally Posted by Orlando Magic
The car comment was stupid. Investing the entirety of the remainder into housing was also stupid... but to act as if now is still not a prime opportunity to invest in housing is ludicrous...

Unless you are able to foreshadow one of two things...

1) The entire collapse of the US dollar. The only reason this hasn't happened yet, imo, is it's still the world standard. Once the rest of the world goes away from it... goodbye. Will they? When will they? Bigger questions. But if that were the case this guy'd, along with the rest of us, have much bigger problems than his wasted investments.

2) Nuclear war.


If you can't foreshadow 1 or 2, it's pretty disingenuous to insinuate that investing in housing is an extremely poor decision because of the potential "pitfalls". lol. If you wan't to say it's because he took ALL of his money and put it there, then... sure, I'd agree.

Reread my post. I was talking about diversifying his portfolio, and not putting all his eggs in one basket. Also, his post didn't indicate he was talking exclusively about the American market. I can tell you that Canadian real estate hasn't taken the same hit as our southern neighbor and that major cities like Vancouver and Toronto are quite expensive to own property in.

Finally, you are telling me nothing new about the housing market. I own two income properties and am currently on board a plane that will take me to Miami for game 5 and then, to look at ocean front condos in Fort Lauderdale, Aventura and Hollywood in South Florida.
macmac is offline   Reply With Quote
Old 05-30-2013, 12:53 PM   #11
-p.tiddy-
the Sho Kosugi of ISH
 
-p.tiddy-'s Avatar
 
Join Date: Feb 2011
Location: -dallas, texas-
Posts: 14,870
Default Re: How much money do you need to earn before you feel satisfied?

enough to retire wealthy, spend the rest of my days traveling the world, and have plenty left over for charity work...

$5 mill will NOT cut it for me...I need closer to $500 million, maybe $1 Billion
-p.tiddy- is offline   Reply With Quote
Old 05-30-2013, 12:57 PM   #12
-p.tiddy-
the Sho Kosugi of ISH
 
-p.tiddy-'s Avatar
 
Join Date: Feb 2011
Location: -dallas, texas-
Posts: 14,870
Default Re: How much money do you need to earn before you feel satisfied?

Quote:
Originally Posted by Cali Syndicate
I'd say a 6 figure salary is satisfactory.
it's not, at all

no "salary" is satisfactory...a "salary" implies that you still have to go to work every day in order to make ends meet
-p.tiddy- is offline   Reply With Quote
Old 05-30-2013, 01:04 PM   #13
Nanners
NBA lottery pick
 
Nanners's Avatar
 
Join Date: May 2009
Location: oregon
Posts: 5,937
Default Re: How much money do you need to earn before you feel satisfied?

Quote:
Originally Posted by Königspinguin
"Earning" money stops for most people in the millions. The most of them just own privileges and don't actually contribute to the economy with wealth production. They own land, or they own spectrum allocations, or they own minerals, or they own patents and copyrights, or they own slaves. It's all idle taking from what others create with very little "earning" involved.

Nailed it.

Your comment reminds me of a documentary I watched last night called Park Avenue (aka Citizen Koch). They talk about how social mobility in America is like a monopoly game where all of the property and money is already owned by the other players before you even start playing. Basically, the game is openly rigged and some players win by default.
Nanners is offline   Reply With Quote
Old 05-30-2013, 02:10 PM   #14
Doctor Rivers
Good college starter
 
Doctor Rivers's Avatar
 
Join Date: Dec 2009
Posts: 2,965
Default Re: How much money do you need to earn before you feel satisfied?

Quote:
Originally Posted by macmac
Reread my post. I was talking about diversifying his portfolio, and not putting all his eggs in one basket. Also, his post didn't indicate he was talking exclusively about the American market. I can tell you that Canadian real estate hasn't taken the same hit as our southern neighbor and that major cities like Vancouver and Toronto are quite expensive to own property in.

Finally, you are telling me nothing new about the housing market. I own two income properties and am currently on board a plane that will take me to Miami for game 5 and then, to look at ocean front condos in Fort Lauderdale, Aventura and Hollywood in South Florida.

I thought he was talking about Afghan real estate
Doctor Rivers is offline   Reply With Quote
Old 05-30-2013, 02:40 PM   #15
InfiniteBaskets
Decent college freshman
 
InfiniteBaskets's Avatar
 
Join Date: Jun 2007
Posts: 2,919
Default Re: How much money do you need to earn before you feel satisfied?

The OP's question talks about being "satisfied". No one is really satisfied unless they're rich enough to be completely independent from further work income?

Here's "satisfied" for me.

9-5 daily job
flexible 2-3 days work from home
low-stress, manageable deadlines
35+ PTO/sick days per year + national holidays
top 30% salary for my geographic location


Yes, I'd love a billion to just drop into my bank account and retire, but it's not going to happen. If you're not born into wealth, you can either work like crazy to break into the top 10% of America's wealth, or take your time and enjoy life while you're young. If you happen to love something that will also make you tons of money then consider yourself lucky.
InfiniteBaskets is offline   Reply With Quote
This NBA Basketball News Website Sponsored by:
Reply


Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


All times are GMT -4. The time now is 12:10 PM.




NBA Basketball Forum Key Links:
InsideHoops Home
NBA Rumors
Basketball Blog
NBA Daily Recaps
NBA Videos
Fantasy Basketball
NBA Mock Draft
NBA Free Agents
All-Star Weekend
---
High School Basketball
Streetball
---
InsideHoops Twitter
Search Our Site















Powered by vBulletin Version 3.5.4
Copyright ©2000 - 2016, Jelsoft Enterprises Ltd. Terms of Use/Service | Privacy Policy