Quote:
Originally Posted by Steely Dan
and that's why i picked $5M.
it's more than enough of a windfall to allow a regular person who feels "stuck" somewhere to get the hell outta dodge.
no, it doesn't buy you a billionaire's row penthouse, but with $5M in free money, if you felt stuck in anytown USA and had always dreamed of living in the big apple someday, for example, you'll find something very livable in NYC for that amount.
this exercise wasn't about "if you won $1B in powerball, what model of private jet would you get and where would you purchase your private island?", it was more about regular people feeling stuck in a given place because of finances, and whether or not they would pull the trigger on going elsewhere if the pressure of day-to-day finances was taken off the table.
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Reminds me how I read that 70% of lottery winners lose all their money, and a third go bankrupt. If you don't come from a reasonably well-off background and understand asset management, the first instinct when you win a few million is to quit your job, and start acting like money is no object. Maybe give lots of money to any friends/family who need it. As a result it can go away pretty quickly.