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Old 05-30-2013, 03:28 AM   #1
tgan3
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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
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Old 05-30-2013, 03:42 AM   #2
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Default Re: How much money do you need to earn before you feel satisfied?

I'm not big on "earning" money
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Old 05-30-2013, 03:43 AM   #3
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Default Re: How much money do you need to earn before you feel satisfied?

I'd say a 6 figure salary is satisfactory.
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Old 05-30-2013, 03:50 AM   #4
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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.
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Old 05-30-2013, 04:31 AM   #5
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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.
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Old 05-30-2013, 05:04 AM   #6
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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.
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Old 05-30-2013, 06:12 AM   #7
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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.
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Old 05-30-2013, 12:17 PM   #8
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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
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Old 05-30-2013, 12:21 PM   #9
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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.
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Old 05-30-2013, 12:31 PM   #10
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Default Re: How much money do you need to earn before you feel satisfied?

Money's like ****** you can never have too much
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Old 05-30-2013, 12:41 PM   #11
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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.
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Old 05-30-2013, 12:53 PM   #12
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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
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Old 05-30-2013, 12:57 PM   #13
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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
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Old 05-30-2013, 12:57 PM   #14
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Default Re: How much money do you need to earn before you feel satisfied?

I don't have any real aspirations or anything so barring any rampant inflation I would be good with a mil.

Not if I have to work though. That defeats the purpose of being rich.
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Old 05-30-2013, 01:04 PM   #15
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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.
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