If I were Filthy Rich
By Sufficient_Tooth_949+66 What are you doing if you win an amount that's not enough to truly be set up for life?
People have different numbers, needs and lifestyles, but let's say 100k to 300k
Its not enough to truly be set up for life, its a number that you have to be smart with what your doing, even up to just 1 million it doesn't go far if your not strategic
Personally I'd be looking at becoming a citizen of a country with an extremely low cost of living, that I COULD be set up for life with on those numbers
The average monthly income in Columbia is $700 according to google, beautiful country, and you can ride the white stallion to your hearts content hehe, the main draw is early retirement while young and stretching what is okay money in America to live like a king money in another country
What would you do with that amount?
Recent responses
+53 @pendletonskyforce Put the winnings in index funds and continue working until that amount reaches $2mil.
+42 @hexadecimaldump For me, I would pay off my house and any bills I have and invest anything left over. Having no mortgage or monthly bills to worry about other than electric, gas, and such and have an instantly bolstered nest egg would eliminate a lot of financial stress and give me much more confidence in being able to retire comfortably.
+21 @eastkent I'm 60. I don't need a lot to retire so I'd do that.
+17 @kraigNJ Great thread. My F-U number used to be $3M but now at 59 and my wife 60 if I could get $300k to pay off my mortgage that would be life altering
+13 @alwaysmyfault Oh, I can actually answer this! I won a prize worth 130k. After taxes, it was about 97k, give or take a few bucks. I'm in my late 30s, so this amount is nowhere near enough to retire. I also have a decent job, making just shy of 6 figures. So I invested it in the stock market. It will either help me retire earlier, or live a more comfortable life in retirement when I do retire.