Let's say you're 30yo and you don't have any savings (retirement or otherwise). If you miraculously landed a job that paid $10M/year, how long would you work? Would you keep working for 20-30 years just because the money's so good. Or would you work 2 years (or something similar) and then quit working forever?
You could get me to shovel $h1t for 10million/year.
Three months.
I'd stay long enough to set myself up for life and then I'd be out like a fat kid in dodgeball. so to answer your question, 5 years, if your smart you could save let's say 25 million as a very low number and then coast for the rest of your life... with 25 million only and hypothetically no interest in your money you could spend half a million a year for fifty years... bam
10 years, saving every penny of it and conservatively investing for solid returns.
After I quit/retire I would spend the rest of my days doing the following activities
1. strippers
2. hookers/"escorts"
3. cocaine
4. jet skiing in a South Pacific
Jet skiing in a South Pacific what?
I am pretty sure you would love a job that paid $10m a year
sugar free wrote:
Let's say you're 30yo and you don't have any savings (retirement or otherwise). If you miraculously landed a job that paid $10M/year, how long would you work? Would you keep working for 20-30 years just because the money's so good. Or would you work 2 years (or something similar) and then quit working forever?
Andrew Bynum, is that you?
I'm not exactly thrilled with my current job, and I get paid a lot less than $10 million. I'd have the same attitude I have now of only working long enough to retire. At $10 million/year, 2 years should be enough to bank about $10 million, which I could live well on for the rest of my life.
Are you out of your mind. You need 50 mil to be secure?
GORUN1600 wrote:
I'd stay long enough to set myself up for life and then I'd be out like a fat kid in dodgeball. so to answer your question, 5 years, if your smart you could save let's say 25 million as a very low number and then coast for the rest of your life... with 25 million only and hypothetically no interest in your money you could spend half a million a year for fifty years... bam
I would work for many years and use the extra money to help to poor, feed the hungry, etc.
lol!
GORUN1600 wrote:
I'd stay long enough to set myself up for life and then I'd be out like a fat kid in dodgeball. so to answer your question, 5 years, if your smart you could save let's say 25 million as a very low number and then coast for the rest of your life... with 25 million only and hypothetically no interest in your money you could spend half a million a year for fifty years... bam
I would do the same, although I would work less time. Showing up and doing the job for one year would be a piece of cake.
If you work for one year, about 40-50% of that gets taxed, depending on where you live. So say goodbye to that.
So then you have this $5-6 million chunk of change. With a 1% interest rate, you could gross $50000/year, lose 15% of that in short-term capital gains taxes, and still have $42500 to spend every year without touching the principle. Phenomenal. And you could easily find low risk assets that provide better returns.
I currently only make $44,000 before tax as a single guy and live a good life, never wanting of anything.
I would work 4months a year for 5-6 years.
I live pretty cheap and this is more money than I could ever dream of.
Anyone who "needs" 50 million is an idiot.
2 years time $10m/year = $20m. Take out taxes and I'd have maybe $12m? That seems like more than enough to live very comfortably for a lifetime.
So, less than or equal to 2 years.
Work 10 years then retire and enjoy good life with all that cheddar
I would probably stay about 5 years. I would retire and live a life with lots of world travel and doing whatever I wanted whenever I wanted.
How many hours/week?
How many weeks vacation?
Is part time possible?
My guess is that I would work 20-30 years if the work was interesting and tolerable. My wife has a good job and I could quit working now if I wanted to, but I really have no interest in stopping working now, so I don't think that a super high paying job would be different.
I would work for a year and save every penny (well except for the like 50k I would spend to live on plus mortgage that year).
Then at the end of the year, I would use the money to start a really shady strip club that everybody knows if you are willing to pay enough, you can get anything you want. This way I could have my pick of the hottest strippers in the place. I could play favorites to get them vying for my favor.
Then after the strippers had made me enough money, I would sell the business to fund my dream of starting a youth track club in inner city detroit, revitalizing the neighborhood and starting the second american running revolution.
I would be lauded as a hero in the running community and Mary Cain would want to shlog my knob. Of course, she would probably be about 35 by then, so I probably wouldn't let her, because there would be a new 18 year old super fast runner by then that I would choose as my prize instead.
Unfortunately, this would probably land me in the tabloids, because I would be famous and probably married after accidentally knocking up one of the aforementioned strippers. But then I would be vindicated when I get a paternity test and prove the brat isn't even mine. After the divorce, I would win back the hearts and minds of the public by adopting the stripper spawn as my own child.
But I would be broke at this point, so he would have to go to community college before transferring to a state school, but hey, it is better than his mother ever would have done for him.
Probably 2 years. I'd work less, but would like to be able to provide some support to family.