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  #61  
Old Posted Jul 17, 2018, 6:31 PM
Buckeye Native 001 Buckeye Native 001 is offline
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Permanent residence in one of the bungalows surrounding Downtown Flagstaff, some sort of place on St. Thomas or one of the other Virgin Islands.
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  #62  
Old Posted Jul 17, 2018, 6:58 PM
ThePhun1 ThePhun1 is offline
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Hooker Inn? I'd go somewhere with escorts if anything. Don't want anything too cheap.
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  #63  
Old Posted Jul 17, 2018, 7:11 PM
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I can't imagine needing more than 1-2 permanent homes (in which case, I'd keep one here and one in coastal Italy somewhere). Beyond that you may as well just stay in hotels and short-term rentals when trotting around the globe.
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  #64  
Old Posted Jul 17, 2018, 7:43 PM
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Yeah I wouldn't either. I would still get one permanent residence, though.
Not if you listened to your tax adviser.

And contra some others, I could easily justify owning properties in NYC, London and Paris and we haven’t even gotten to vacation homes yet. If you have the money, there’s no reason not to invest it in prime real estate instead of staying in hotels.
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  #65  
Old Posted Jul 17, 2018, 8:00 PM
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Not if you listened to your tax adviser.

I could easily justify owning properties in NYC, London and Paris and we haven’t even gotten to vacation homes yet. If you have the money, there’s no reason not to invest it in prime real estate instead of staying in hotels.
I wouldn't wanna make time for all that mishigas. I'd just stay in hotels.

I'm 48 now... If I had a billion dollars, I wouldn't ever have to worry about making money again. I doubt I'd spend all of that billion dollars in the next 30 years, and I have no children to pass it on to. I would just spend it until I croaked.
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  #66  
Old Posted Jul 17, 2018, 8:23 PM
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If I had a billion dollars, I wouldn't ever have to worry about making money again. I doubt I'd spend all of that billion dollars in the next 30 years, and I have no children to pass it on to. I would just spend it until I croaked.
If you had a billion dollars, it would be a full time job trying to avoid making money again if that were your goal. Even at the silly-low rates paid on savings accounts these days, the interest on a billion would count as "making money". About all you could do to avoid it is emulate my favorite cartoon character:


http://www.101qs.com/559-money-bin
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  #67  
Old Posted Jul 17, 2018, 8:26 PM
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Originally Posted by sopas ej View Post
I wouldn't wanna make time for all that mishigas. I'd just stay in hotels.

I'm 48 now... If I had a billion dollars, I wouldn't ever have to worry about making money again. I doubt I'd spend all of that billion dollars in the next 30 years, and I have no children to pass it on to. I would just spend it until I croaked.
Do you enjoy packing?

Personally it’s one of my most hated activities. And one of the nice things about owning a bunch of houses is that you don’t have to do it, you just leave your own shit in all of your various homes. That alone is worth it, if we’re talking about someone with a ten-figure net worth. Just buy X of everything.
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  #68  
Old Posted Jul 17, 2018, 8:36 PM
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Do you enjoy packing?

Personally it’s one of my most hated activities. And one of the nice things about owning a bunch of houses is that you don’t have to do it, you just leave your own shit in all of your various homes. That alone is worth it, if we’re talking about someone with a ten-figure net worth.
As someone who owns just one "second home" I can tell you that that too has its issues. Getting a GOOD house-sitter is not so easy but it's essential if you don't want to be driven crazy. Unoccupied houses have as many maintenance problems as occupied ones, maybe more. It seems like I can't spend my summer in SF without at least one phone call about something broken--usually the irrigation system which is essential to keep landscaping alive in the desert--down in AZ.

I realize liberal applications of money can minimize these issues and I assume that's how billionaires handle it. Their houses are probably big enough to have live-in caretakers who have slush funds enough to fix anything wrong, but still, staying in rental property where it's somebody else's problem when something goes wrong has something to say for it.

But that's why I like the idea of owning a big yacht. Don't move between big homes--move the home.
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  #69  
Old Posted Jul 17, 2018, 9:08 PM
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^ A yacht is rivalled as a money sink only by a plane. Or perhaps a wife.
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There is a cult of ignorance in the United States, and there always has been. The strain of anti-intellectualism has been a constant thread winding its way through our political and cultural life, nurtured by the false notion that democracy means that "my ignorance is just as good as your knowledge." - Isaac Asimov
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  #70  
Old Posted Jul 17, 2018, 9:22 PM
the urban politician the urban politician is offline
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^ A yacht is rivalled as a money sink only by a plane. Or perhaps a wife.
Damn, I hope your girlfriend doesn't read this forum!
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  #71  
Old Posted Jul 17, 2018, 9:23 PM
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Originally Posted by Pedestrian View Post
If you had a billion dollars, it would be a full time job trying to avoid making money again if that were your goal. Even at the silly-low rates paid on savings accounts these days, the interest on a billion would count as "making money". About all you could do to avoid it is emulate my favorite cartoon character:


http://www.101qs.com/559-money-bin
I thought I would just put a lot of the money in non-interest earning checking accounts, to be honest. Maybe my hypothetical billion would drop to just multi-millions... much easier to divvy up into non-interest earning checking accounts. No income earned, no income tax to pay, right?

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Do you enjoy packing?

Personally it’s one of my most hated activities. And one of the nice things about owning a bunch of houses is that you don’t have to do it, you just leave your own shit in all of your various homes. That alone is worth it, if we’re talking about someone with a ten-figure net worth. Just buy X of everything.
I hate packing. Which is why I travel light.

When I backpacked across Europe for six weeks in my 20s, I traveled very light, and used laundromats, which I actually thought was fun, watching the locals (and sometimes even conversing with them) while they did their normal everyday things. Sometimes, at some of the cheap hotels that I stayed at, if they offered the service, I had them do my laundry for me.

If I had a billion dollars, I could just buy what I needed when I got to my destination. I'm a t-shirt and jeans kind of guy; if I were that wealthy, once the t-shirt starts fraying, I would just chuck it and buy another.

One thing I've learned over the years (thanks to my Buddhist partner), is that the fewer attachments you have, the more free you are. Like the Janis Joplin song says, "freedom's just another word for nothing left to lose."

But yeah, the more attachments you have, the more weighed down and worried you are. I would not want to worry about more than one house. I'd rather be free to roam the earth.
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  #72  
Old Posted Jul 18, 2018, 4:21 AM
CaliNative CaliNative is offline
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Quote:
Originally Posted by Pedestrian View Post
If you had a billion dollars, it would be a full time job trying to avoid making money again if that were your goal. Even at the silly-low rates paid on savings accounts these days, the interest on a billion would count as "making money". About all you could do to avoid it is emulate my favorite cartoon character:


http://www.101qs.com/559-money-bin
Agree. A $billion at the 3% available in US treasury notes & bonds would yield $30 mil. a year without digging into the pricipal. Anybody can live very well on $30 mil a year. You can only spend so much. Give the rest to charity. Somebody like Jeff Bezos with $150 billion, I don't get that. Set up a foundation like Bill Gates and help people.
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  #73  
Old Posted Jul 18, 2018, 5:08 AM
mhays mhays is offline
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Think of the urban cool things you could buy...fund better transit, maybe counter the climate deniers' ad campaigns, support the local schools....
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  #74  
Old Posted Jul 18, 2018, 5:25 AM
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NYC and Amalfi Coast or French Riviera.

And a yacht.
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  #75  
Old Posted Jul 18, 2018, 9:04 AM
CaliNative CaliNative is offline
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Originally Posted by Pedestrian View Post
As someone who owns just one "second home" I can tell you that that too has its issues. Getting a GOOD house-sitter is not so easy but it's essential if you don't want to be driven crazy. Unoccupied houses have as many maintenance problems as occupied ones, maybe more. It seems like I can't spend my summer in SF without at least one phone call about something broken--usually the irrigation system which is essential to keep landscaping alive in the desert--down in AZ.

I realize liberal applications of money can minimize these issues and I assume that's how billionaires handle it. Their houses are probably big enough to have live-in caretakers who have slush funds enough to fix anything wrong, but still, staying in rental property where it's somebody else's problem when something goes wrong has something to say for it.

But that's why I like the idea of owning a big yacht. Don't move between big homes--move the home.
Or when on land, a land yacht, a very huge and fancy RV. I've seen some cost $500K....nothing for a billionaire. In the old days the super-rich used to keep their own railroad cars to travel around. I guess a billionaire could afford a decent sized jet, but them you have all the associated costs, but maybe they are affordable for a billionaire.
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  #76  
Old Posted Jul 18, 2018, 9:13 AM
CaliNative CaliNative is offline
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Think of the urban cool things you could buy...fund better transit, maybe counter the climate deniers' ad campaigns, support the local schools....
Anything over $100 million is just gravy. I'd take that part over $100 million and just help people, but maybe you'd be deluged with hands out and it would take all your time. So just do it anonymously, like that old 1950s/60s show "The Millionaire' about a rich dude who went around giving poor people wads of cash, or rather he hired someone to hand out the dough. I'd love to see a megabillionaire tackle the homeless problem. Bezos-Gates-Buffett....solve homelessness. You'll feel good doing that.

Last edited by CaliNative; Jul 18, 2018 at 9:23 AM.
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  #77  
Old Posted Jul 18, 2018, 9:49 AM
Pavlov's Dog Pavlov's Dog is offline
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I would continue to live where I live and spend time with friends and family.

Houses are a lot of hassle so I'd want a big penthouse in Oslo with a view of the water. A penthouse in Portland, Oregon where I grew up and have a lot of friends. A house in Pebble Beach close to my sister and niece in Santa Cruz. Those three places have pretty much everything I'd want or need in life.

For travel and adventure I'd just stay at nice hotels. Owning too much stuff is often more trouble than its worth since those things end up owning you.
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  #78  
Old Posted Jul 18, 2018, 12:11 PM
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Far away from urbanity as I possibly can. Kinda like Brock Lesnar but not that much of a hermit. It'll still be in the USA, provided that I was able to become that wealthy here. I'm not the most patriotic dude but I'd want to give back to the place that allowed me to to become successful, and that's by spending money into its economy.

I guess coastal Maine or one of the Washington state islands. Maybe SW Florida coast or Palm Beach. Or a gated community in New Hampshire, Northern Virginia(near Dulles) or Northern Nevada. Driving? I'd hire someone or take an Uber/Lyft if they exist in those areas.
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  #79  
Old Posted Jul 18, 2018, 2:11 PM
mhays mhays is offline
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Originally Posted by CaliNative View Post
Anything over $100 million is just gravy. I'd take that part over $100 million and just help people, but maybe you'd be deluged with hands out and it would take all your time. So just do it anonymously, like that old 1950s/60s show "The Millionaire' about a rich dude who went around giving poor people wads of cash, or rather he hired someone to hand out the dough. I'd love to see a megabillionaire tackle the homeless problem. Bezos-Gates-Buffett....solve homelessness. You'll feel good doing that.
A foundation could do it much better, and give to worthwhile organizations.

I wouldn't give anything to random individuals.
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  #80  
Old Posted Jul 18, 2018, 2:52 PM
the urban politician the urban politician is offline
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Do you enjoy packing?
^ How many billionaires pack? Or carry their own luggage?
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