Quote:
Originally Posted by eschaton
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.
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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.