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Old Posted Sep 30, 2022, 3:37 PM
eschaton eschaton is offline
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Join Date: Dec 2013
Posts: 5,210
$5 million? Net or gross?

Either way, no, I don't think so. $5 million is enough that I could theoretically stop working and just live off of the proceeds of an index fund for the rest of my life (Maybe make $250,000 annually off of the interest, so a little more than twice our existing net), but it's not enough to be rich rich. It's not enough to afford to live absolutely anywhere I want.

Add to that that I have two school-age children, my in-laws are local to the area and nearly 80, my mom has moved out here and is in her early 70s...too much still tying me here, even if I (and I guess my wife) would theoretically be able to prop our feet up.

I might consider buying a different house in Pittsburgh. but this cuts down on the amount of money an index fund could get me. I'd more likely pay off my house and maybe trick it out with some renovations.

I would certainly want to skip town when my kids were college age, provided the elderly parents were no longer a concern.
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