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If I were Filthy Rich
By dudunoodle
+299 If you just won $5m after tax, what will you plan out your life?

No mega winning, just $5m which is too poor to be rich figure. Mathematically you can only withdraw $200k a year (4% rule). What will you do with the winning money?

Will you quit your job?

Will you buy an expensive a million $ home?

Slow travel the world ?

It seems everyone is envisioning a drastic life change with mega $100m kinda of figure but curious to see what folks would do with a smaller winning.

ADDING MY OWN: 1. Quiet quit my job and waiting to be laid off; I like what I do and I like the people. 2. Take $500k out to learn how to trade options, sell calls. 3. Build a greenhouse and learn how to garden and be self sustainable 4. Invest in VOO, QQQ and then allocate maybe $250k buying JEPQ , QQQI for income 5. Play entire collections of Final Fantasy, Halo, And a few other classic franchises. 6. Vape with my cat.

Recent responses

+137 @chickenfightyourmom Stop workinggggggggggggg!! I would keep living my life and stay in my house. I'd just stop going to work.

+61 @drivera1210 There would be signs. But keep it as low key as possible.

+38 @BabiesatemydingoNSW I'd invest it and live off the 7% annual return. $350k may not be Rockefeller money but I could live *very* comfortably on it and travel.

+38 @Ngata_da_Vida All debt paid, college accounts beefed up for the kids, proceed as normal. But retirement would be sooner (I’m 50)

+27 @Nugget_Brain "Five's a nightmare...... Can't retire.....not worth it to work. Five will drive you un poco loco, my fine feathered friend. Poorest rich person in America The world's tallest dwarf......the weakest strong man at the circus." -Succession

+24 @abyssomega 5 million? That's easy. Work for the next year, while the interest accures for the next year. Sell off anything that doesn't need to come with me on the next adventure. (Bed, table, chairs, electronics, clothes, pots and pans.) If I have debt, use savings to pay them off and make sure that nobody can come after the money because I owe them. Start looking for an house/apartment that is very easy to maintain (2-3 bed, 1-2 bath, little to no yard). That's my base. Using a 2% withdraw ($100k), I start wandering the world. Just make sure I come home every 3 months to make sure that nothing untowards has happened to my base. Go to the doctor's, dentist's, make sure parents and siblings are still ok. And then I'm off again. Maybe I'll meet someone, maybe I won't. But I would wander around, eating food from across the globe. I'd keep my spending to $1k a week for lodging. Travel budget is $2k a month. Food is $1k a month. Still leaves me $1.3k a month to just enjoy wandering. (This budget changes if I buy the house/apartment. Just substract that from monthly totals.) That's what I would do.

+19 @Lord_Cheesy_Beans I’m 60, 5 million retires me.

+18 @Beautiful-Cat245 I’m retired. I don’t have debt but I would probably get a new car since I have an older car. The rest I would divide into savings, cds, investments, and donations. Probably do some traveling as well. Simply getting the extra money would take away some of the stress given the cost of healthcare and nursing homes if I need it.

+14 @Inevitable_Cat_7878 I would be totally happy with winning this. I wouldn't change anything. I would quit my job, invest the winnings wisely, and just do slow travel around the world. Spend a month or so in one place and just explore like a local.

+14 @breadad1969 $5 million is an amount that poor people think you’re rich and rich people think you’re poor. But it’s more than enough for most people to live comfortably the rest of their lives if they plan accordingly. No mansion on the beach but a solid house in the suburbs. I’m closer to the end of my working years than the beginning so it would go farther for me since I’ve already got the house, car, raised the kids, etc.

+13 @cnation01 200k a year is plenty for me. Probably get some land, hunt, and fish for my meals. Hang out by the wood stove with a nice bourbon and a good dog. Plant some crops, and grow a beautiful garden. That's making it to me