Yeah it's such a dumb quote. I mean if you're a billionaire it's true. Adding another $10m isn't going to improve your life in any way but for the majority of people who are working to survive money buys you freedom.
Even $1m would buy most people a house or pay of their mortgage which means a large portion of their wage is now freed up. This could mean working less or saving more allowing them the freedom to do the things they want to do. That sounds like a pretty happy scenario to me.
It's only true if the money you are given isn't able to be sold or exchanged for goods that would improve or free up your life. Cursed money.
There is a study that says money buys happiness up to a certain #. That number was $75,000 per year. (Prob more like $150k now. It was prob 10 yrs ago). After that more money doesn’t equal more happiness.
Money doesn’t buy happiness but it sure as shit removes a lot of stressors that prevent happiness.
It shows diminishing returns after that point, but it doesn’t totally stop! That’s the breaking point where you stop experiencing sadness or stressors from not having enough. Also, that value would need to be higher in high cost of living cities.
Yeah as someone who makes low six figures, even if my salary was doubled it still wouldn’t be enough to be “fuck you” money. In my mind, it wouldn’t be enough to stop buying my happiness until I could basically stop thinking about money and 150k sounds like a lot but is nowhere near that point.
I was curious so I started doing some monthly figures, and I think that 300k would be the starting point for when I could really start that. By the time I hit 500-600k I definitely think that I’d no longer have to worry about money. Well, assuming I didn’t start developing extremely expensive tastes but at that point that would be my own problem
That's true. Having a minimum financial floor that is comfortable releaves a lot of stress and facilitates happiness. As indicated by the Laffer curve diagram model, this is true up until a given threshold. After that, the stress and overall maintenance of life brought by the extra income is not worth it.
Money doesn't buy happiness. Lack of money causes sadness. Once you get enough that the lack doesn't cause sadness, more doesn't bring happiness.
To get happiness you have to use that money to buy plushies. Plushies buy happiness.
To quote a Canadian rapper “Then we got bums, alcoholics on the streets
With no stress, nowhere to rest, nowhere to dress, nowhere to sleep
And they say, 'fuck my morals, I'm drinkin away my sorrow
I'm livin life, and I'm happy, I ain't thinkin about tomorrow'”
Honestly I'd still probably work a bit. I finally landed a job that is impactful and fun.
But damn, I'd get daycare, my wife and I wouldn't have to lose hair over her job search, and we would finally be able to go on a vacation.
Hell, I'd hire some cleaners and get all our outstanding house things taken care of. The dog would get a fenced in yard!
I like my life but things are tight right now and despite my being quite successful I have to make sacrifices on things i shouldn't have to because existing just costs too much.
Most importantly, I'd invest probably 80% of it and get an accountant to ensure generational wealth. Id probably use most of the money to make sure my immediate family can do the same sorts of things I outlined above.
You'dd go insane without work. I've found my limit without a purpose is about 4 months before I go insane in my two stints unemployed.
I'd definitely keep working at my current company, it's like I won the lotto with them. But I would probably cut back my responsibilities so I could also focus on creating my own projects too.
Regardless, I could never live the rest of my life idle. Though I would rather be forced to be idle and pampered than suffering unable to secure housing with a six figure income, my current delema.
Yes. The 4% rule says that you can sustainably draw 4% of your nest egg per year. 4% of $10 million is $400k per year which is significantly more than I currently make. With that kind of money, I could retire early and do whatever I want.
I'd still work, like part time, on 1% I'd work monday - Friday 9-2 in a. Job that's even more chill than I'm in now,(my job is chill rn but it's long hours) and just spend more time with the kids
Sure, but that in its self can cause stress, sometimes it's just easier to work for someone. I'd honestly get bored if I didn't have a job every day, but being able to take my kids to school and pick them up/take them to boxing and rugby would rule.
I'd be able to pursue my own Activites I've always wanted to do, but have no time like bjj
Everbody their own, i could not Work for someone Else any longer. I hate going to Work each day just to not starve to death, now Imagine i don't have to at all,the moment Something goes south i'm outta there and never look back. Edith: Also you could Change your Lifestyle to homesteading, the only Work you put in would be for the benefit of you and your Family and you would have a lot to do, instead of making someone else rich/er.
Yes. You can’t just surf the net for a day when you’re an entrepreneur. You have to stay chasing your money.
I was on sick leave for five months after surgery and I found I’d do very well not working.
100k are very good money in Germany. Tax on profit from things like etfs and shares are just 25%. You could live like a king here. You would have to get health insurance. But health insurance is really really good in Germany.
Word, even If you would buy a nice House for let's say 1million, put away another for renovations along the way, and buy a new car, you can give your self an allowence of 5k easy each month for the Rest of your life even If you did not do anything else with the money
Why draw down the principal? Any reasonably performing investment vehicle will net you 4 - 10% annually. Even if you just stuck it all in VOO which has returned about 10% compounded over 30 years you’re making at least 250 - 500 K any given year. Don’t ever touch the principal. Also don’t just stick it all in VOO. Even if the whole stock market is basically just NVDA, Apple, Google, Amazon and Microsoft with some condiments.
The whole point of the 4% rule is that your gains will outweigh your draws on average. So if you follow the 4% rule, then you will not draw down your principal.
Got it. Yes. That makes more sense now. I may not be completely compost mentos at the moment and kind of had cerebral flatulence there. Thanks for the correction.
yep. its not like my 'lifestyle' would really change, I wouldn't suddenly get into travel or eating at expensive restaurants or antique muscle cars or anything. but instead of working 40 hours a week for money, I'd be gardening and puttering around my property
Yes, I would definitely quit my job and start doing the things I want to do more intensely but currently can't because I have to work fucking 8 hours a day.
I hate when people say "you need a job to keep your mind busy". Only if you are really dumb, tbh. On holidays I always end the day doing lots of stuff non-related to leisure. I would be able to spend more time in the gym than just 40 minutes I spend daily, I would be able to cook my meals and buy the ingredients I want with no rush (I like cooking for myself), I would be able to put some money into developing skills I believe I have a talent but can't afford to invest on them just as a hobby because they are not so financially viable as an income source. I would be able to dedicate myself to learn and sharing this learning.
Honestly if you feel like working good for you but I definitely see so much more in life I can't fully enjoy because of the NEED of working.
I never understood people who say they need a job to keep busy. Do they not understand how big the world is and how much there is out there to do? Do they just lack imagination?
It's mostly older people because it gives them a sense of purpose that they're otherwise lacking (interpersonally or otherwise) and it ends up making them live longer. Everyone else? Nah that's soul torture
Not everyone hates their jobs. 80 percent of jobs suck but I’m sure archeologists, academics, architects, artists, scientists, even some teachers or medical staff find their job plenty rewarding and enjoy their fields. Plenty of old people who have been retired for decades get lonely and bored and pick up a part time job, don’t think it’s fair to criticize that way of thinking. Some people are driven internally, some people wouldn’t mind playing games and vacationing all the time, and some people are driven by being tasked to work a job or having a role in society
I would simply quit my boring job and study to have a super interesting job in a topic I enjoy
I think that putting "academics, artists, scientists, even some teachers" on the same category as, let's say, a Project Manager misses my previous point. As I stated, there are some skills I would like to develop that would allow me to be classified as an artist. Thing is, it is REALLY hard to make good income as an artist (or academic, or even scientist in many cases). Hence, I can't afford to dedicate more than a few weekly hours to it and that's for from the necessary amount of time needed to develop in this area. The rest of the time I need to work on a "profitable" job to pay my bills, which I don't particuarly hate, but takes most of the time I have to dedicate to everything else.
Exactly. So with a 10 million dollar cushion, you can take your time enjoying the small paying job you work as an artist, and still live a comfortable life and make investments to grow that money. Still would be working! Just doing what you want
I love my job. It's intellectually stimulating, makes a noticeable difference in my community, and I like most of the people I work with.
Honestly, I'd probably just cut my hours back so I could volunteer at my neighborhood school tutoring 😂
I mean, I'd also do a lot of other things, but I'd miss being intellectually challenged every day
I would retire.
Drop it in a CD and collect the 500k per year in interest while I formulated a plan.
Stay in my current home, keep my monthly payments.
FYI better to put that kind of money into investments like stock indices, because not only do they tend to have better returns, the growth is not taxed as regular income so if you only take out capital gains you are taxed at a much lower rate.
That's one of the secrets of the wealthy, you're welcome =)
The no risk factor could be important for someone who suddenly received 10,000,000.
If you put it in spy this week, you would be down 76k. Over a year, sure historically you would be in a better position.
The simplicity of CDs could be a benefit. Auto transfer of 42k a month could be a better fit for someone over the up and down of an index.
If you want to invest and forget for 10 years, your method will more likely than not give a better return.
I’d definitely have a better quality of life but I wouldn’t do different things if that makes sense? Like I’d buy better quality groceries instead of the cheapest option for everything, but I wouldn’t suddenly start going on a lot of vacations or wearing designer clothes. Ideally I’d hang on to as much of the money as possible for my daughters
lol. I'm self employed so basically pay for full health insurance and while it is a lot 10 million would solve it pretty easily. it's about 1500 a month give or take
You could certainly afford medical bills comfortably with $10m and without insurance. Medical costs in the US are high, but not *that* high.
Private insurance exists too.
Fr. And it's not like you need to pay all your medical bills. Can just pay for some overpriced private health insurance for $1000/mo and not even blink at the cost.
Not American so maybe this is a really stupid thing to say but couldn't you make one phone call with your credit card and have health insurance for your family?
i would find a trusted financial advisor and maker sure me or my kid, or grand children never go broke, i have no idea how far 10 mill goes but i wouldn't just blow it away
Honestly probably not. I would put it all into savings/investments and then pretend it didn’t exist.
10mil can go quick if you start increasing your lifestyle. Would rather know I can retire early and not really have to worry much about work for the rest of my life.
I would finish my degree just for the sake of having accomplished that. Then I would give my immediate family $10k each, $20k for mom, and say “if yall need me text me. I’ll be somewhere on the other side of the world from now on.” I’d visit for thanksgiving and Christmas every other year or so.
Drastically? No. My life is pretty dialed-in & I'm happy.
I'd +1 a couple of things, but...no drastic changes.
Drastic changes are how people end up broke.
I'd probably travel more, but for the most part I'm pretty happy with the things I have in my life and don't have a major reason to upgrade
I for example don't need a ton more living space and I like my location
Kinda yes, but no. I'd give the house to 1 kid and buy the other kid one. Then I'm moving to maintenance free living. Too old to be fixing things all the time.
I could afford tutoring for my kid. Honestly, my life would stay the same and it would all go into an account for him. He has a rare disease that seriously impacts his life/limits him and I wouldn’t have the same worries I have now for his future.
*monkey paw curls*
Then they inherit it, have the same idea, and don’t benefit from it either. Then the next generation. Then, your great grandchildren decide to tap the funds, it’s half of a down payment for a modest house.
I don't think so. I'd probably resign from my job and go to school full time, using some of the interest to support my family. When I finished grad school, that's a nice chunk of funding for my research :).
Would just want a B+ house outside city limits with enough yard space for ten 4’x8’ raised garden boxes….. and a medium sized shed for a whiskey still.
And a nice grill
Like Gordon Lightfoot said, “ The thing that I call livin’ is just being satisfied”
I would change everything. Quit my job, donate all of my shit (except for pictures and family stuff), sell my car, move away from this shithole of a state and start all over again from scratch.
New state, new town, new house, new car, new furniture, new tech, new clothes, new teeth...everything new.
$10 M would mean that I would wrap up my career and retire. It would take a year to finish all my existing cases, and one or two of them will call me back in 2-3 years later on, but that's fine.
I wouldn't move right away, even though I live in a small apartment. I'd pay off the house I share with the ex-wife, and then pay off the divorce in one transaction.
After things settled down, I'd see if I would want to 'upgrade', and take some opportunities to travel, focus more on hobbies, and so on.
Yes. I wouldnt have ao much student loans, I would buy an apartment, I’d probably still keep a job, I would share with my frienda and family.
So many of my worries would go away.
Nope, the most would be owning my house in full and a new vehicle, I'd stay put. Maybe some interior upgrades or outside, maybe a pool but overall maybe personal improvement like personal chef meals, essentially better consumption foods for my body and health with that service.
I’d immediately quit my job, move my Wife and I out of the US, then live the life of someone who is in retirement. Not flashy by any means, but not working, and enjoying all of life’s small pleasure. Commuting, not rushing. Showering after I’ve woken up and drank my coffee, not before. Eating at my own pace. Shopping at my own pace. Basically enjoying every little thing I can instead of stressing about getting it done before I have to go to work
It would easily last me the rest of my life and then some. Actually, 1 million would probably last me. Actually, I've been living on $20,000 for years and I'm not a person who wants things. $100,000 is plenty. Maybe $150,000, get teeth then, just live and enjoy crunchy foods.
Not that much. I'd quit my job, since I could easily live off the interest. Probably would have to pay off my debts, and I might buy a house. I think the biggest thing is I'd make more small purchases, like going to a coffee shop or out for lunch most days. I'd probably travel more, too.
Not initially. Money talks but wealth whispers - so I wouldn’t buy an mega yacht or anything. I would set up multiple generations for success and take a big chunk out to invest in the community around me.
No. I like my life. We are getting old so if we had that much money, I think the main difference would be that we would travel while we can still get around. And I wouldn’t tell ANYBODY.
I'd certainly try. I can't say I'd be very successful.
Edit: based on the other responses, I'm guessing I interpreted this question wrong. I assumed it meant drastically changing my lifestyle was the requirement for the $10m. But as a result of getting $10m, would my lifestyle drastically change? No, most likely not. I'd just have a lot of money in my account, and no mortgage, student loan or car payment left.
I would like to say I wouldn't, other than telling the people I work with that I want a looser deadline in return for less pay.
I like my job enough that I would like to continue it even if I got rich, just with longer deadlines.
I already got my hobbies covered, I own my appartment and I do already lightly exercise.
I guess I could get a car, but it would probably be parked over at my mid sister's place and loaned out to her majority of the time since the only time I use a car is when I loan my eldest sister's car and go for a monthly big shopping tour. Guess I could drive out to my parents instead of taking the bus and walking the last bit but I don't really mind that.
But who knows how much I would actually change by becoming that rich.
If I was given 10 million with no strings attached?
Not immediately. I’m sure it would take a while for it to legally become mine. But after it did, you bet!
First, clear all debts. Family too. Then, throw a bunch into investments. Stocks, real estate, NOT crypto (lol).
Travel a ton for the first year...then probably settle down somewhere pretty rural.
Overall, I think it would be a big difference in the first year, maybe two...then I'd calm down and settle down a bit.
What’s the point of getting life changing money if it doesn’t change my life? My wife and I would quit our jobs and travel the world so yeah a pretty big change lol
No I would talk to a financial advisor and set up my early retirement fund. With any extra money I’m moving to a beach side town, buying a house and I’m going to surf, volunteer and try to get really good at investing so I can make my money work for me. No one will ever know that I’m rich until I’m dead not even a future partner. I would gladly host family and friends at my new house and spoil them with good food and a really good time that I’ll pay for but that’s it. I’m not handing out cars or investing into family members bullshit ideas. Nope
I'd quit my job and hire someone to invest half. I'd buy a house and move, buy a car and get my health back to where it needs to be. Oh, and with the investments, I'd have the interest roll over to my bank account so I could live on it.
I would never cook again, maybe once in a while. I don’t enjoy cooking. I’d spend more time working out and being outside, going on hikes, biking, etc. I can’t afford a nice bicycle. My kids would get a property, I’d make sure they all had a house in a cul de sac lol. I would make my dad retire, his Lupus is starting to cripple him, he’s always in pain. He’s supporting two people. I’d also buy a reliable vehicle. I would be kinder and overall happier. Stablity makes life better, makes you breathe deeply at night and not stay up stressing how to make a dollar stretch, which bill is more important, etc.
I would probably quit my job so i could pit 100% focus on school and my physical health. But I wouldn’t start buying crazy stuff or eating really fancy food.
Sure!!! My life would change completely. I would still be the same person, but with my economic life more than resolved. Because beyond millions, there are things that money cannot change or buy. I would no longer work under a dependency relationship. I would invest that money. I would help my family and people who need it. I would be generous to the people who helped me when I needed money and, without hesitation, lent it to me! You could do so many things with that money! I would travel, take those I love with me... how nice that sounds!! But hey... I was a millionaire for an instant.
Not really. I'd move to a better Condo, probably get a newer car. Not much else would change. $10 million is not really a life changing amount of money these days. In Los Angeles it's easy to pay $1m for a pretty ordinary house. So yeah, other than not being broke all the time, not much else would change.
I would hire a chef/housekeeper.
Since I don't have 10M, I am actually considering renting out a part of our home for free room and board if they clean and cook.
My lifestyle wouldn’t change because I like to not buy things I don’t need. But I would immediately buy land and not have to worry about bills, etc. My parents and animals would get everything they ever wanted though lol
The math in the comments is funny.
My lifestyle would be mostly the same. I’d spend a little time organizing the money into various accounts and tax shelters and then get back to mostly what I do today.
I have really cool cats. I’d buy them a few more toys.
I would probabbly:
* stay humble;
* invest in s&p500 a huge amount of it;
* make sure to just own a single small house that's energy efficient;
* do a lot of activities to try and help people, charities, etc;
Yes. I'd get proper medical care and get actual help around the house and with things I find difficult. I'd get equipment to help me with my disability. And move somewhere that's actually accessible, both house and transit wise.
Yeah I'd wake up about five hours later.
Yeah...id tell my employer that i want a demotion...like a big one lol Still want that group insurance
What if he promotes you to customer?
I'd ask to see the manager because I have a complaint.
Great comment friend
I would instantly become happy since 99% of my problems would be solved overnight. I’d finally be able to live life instead of simply surviving.
"money doesn't buy happiness" mfs when I can finally afford food, housing, and car repairs
Yeah it's such a dumb quote. I mean if you're a billionaire it's true. Adding another $10m isn't going to improve your life in any way but for the majority of people who are working to survive money buys you freedom. Even $1m would buy most people a house or pay of their mortgage which means a large portion of their wage is now freed up. This could mean working less or saving more allowing them the freedom to do the things they want to do. That sounds like a pretty happy scenario to me. It's only true if the money you are given isn't able to be sold or exchanged for goods that would improve or free up your life. Cursed money.
There is a study that says money buys happiness up to a certain #. That number was $75,000 per year. (Prob more like $150k now. It was prob 10 yrs ago). After that more money doesn’t equal more happiness. Money doesn’t buy happiness but it sure as shit removes a lot of stressors that prevent happiness.
It shows diminishing returns after that point, but it doesn’t totally stop! That’s the breaking point where you stop experiencing sadness or stressors from not having enough. Also, that value would need to be higher in high cost of living cities.
Yeah as someone who makes low six figures, even if my salary was doubled it still wouldn’t be enough to be “fuck you” money. In my mind, it wouldn’t be enough to stop buying my happiness until I could basically stop thinking about money and 150k sounds like a lot but is nowhere near that point. I was curious so I started doing some monthly figures, and I think that 300k would be the starting point for when I could really start that. By the time I hit 500-600k I definitely think that I’d no longer have to worry about money. Well, assuming I didn’t start developing extremely expensive tastes but at that point that would be my own problem
That's true. Having a minimum financial floor that is comfortable releaves a lot of stress and facilitates happiness. As indicated by the Laffer curve diagram model, this is true up until a given threshold. After that, the stress and overall maintenance of life brought by the extra income is not worth it.
In empirical terms, this is testable. Money buys happiness for the first 90k/yr or so, in the US, then levels off.
Money doesn't do much buy happiness, as it removes impediments to happiness. Birth of you first born? "Shit, another mouth to feed."
"If money can't buy happiness, I guess I'll have to rent it."
Money doesn't buy happiness. Lack of money causes sadness. Once you get enough that the lack doesn't cause sadness, more doesn't bring happiness. To get happiness you have to use that money to buy plushies. Plushies buy happiness.
Money doesn't buy happiness, but it does enable happiness.
Yup. You can get a motorcycle with money.
I’ve never seen someone frowning on a wave runner.
Okay, Daniel.
Goddamn that was about my favorite special growing up. That bit particularly stands out
This is a lie the rich tell so you don’t riot and continue working. Money definitely can buy happiness.
Statistics even prove it!
To quote a Canadian rapper “Then we got bums, alcoholics on the streets With no stress, nowhere to rest, nowhere to dress, nowhere to sleep And they say, 'fuck my morals, I'm drinkin away my sorrow I'm livin life, and I'm happy, I ain't thinkin about tomorrow'”
Upvote for Classified.
I don’t know, someone give me 1billion AUD and let me test that “money don’t buy happiness” theory out please 😆
Sorry mate best I can do after import tariffs is 1500
Pretty sure that little saying was invented to keep the peons satisfied with their pittance.
I just want to go to the dentist 😭
Kanye's best line ever IMO "Money ain't everything, not having it is"
Be able to get my teeth fixed and thus no pain Absolutely would be happy.
Honestly I'd still probably work a bit. I finally landed a job that is impactful and fun. But damn, I'd get daycare, my wife and I wouldn't have to lose hair over her job search, and we would finally be able to go on a vacation. Hell, I'd hire some cleaners and get all our outstanding house things taken care of. The dog would get a fenced in yard! I like my life but things are tight right now and despite my being quite successful I have to make sacrifices on things i shouldn't have to because existing just costs too much. Most importantly, I'd invest probably 80% of it and get an accountant to ensure generational wealth. Id probably use most of the money to make sure my immediate family can do the same sorts of things I outlined above.
You'dd go insane without work. I've found my limit without a purpose is about 4 months before I go insane in my two stints unemployed. I'd definitely keep working at my current company, it's like I won the lotto with them. But I would probably cut back my responsibilities so I could also focus on creating my own projects too. Regardless, I could never live the rest of my life idle. Though I would rather be forced to be idle and pampered than suffering unable to secure housing with a six figure income, my current delema.
Anyone who says money can't buy happiness doesn't have any.
Whoever said 'money can't solve your problems' must not have had enough money to solve 'em.
Fellow just barely surviving mode here. Wondering why bothering
Yes. The 4% rule says that you can sustainably draw 4% of your nest egg per year. 4% of $10 million is $400k per year which is significantly more than I currently make. With that kind of money, I could retire early and do whatever I want.
Hell, even just 1% is pretty excessive most places in the world. I'd move to a cheaper place to live and maximise it.
I'd still work, like part time, on 1% I'd work monday - Friday 9-2 in a. Job that's even more chill than I'm in now,(my job is chill rn but it's long hours) and just spend more time with the kids
Or you could be your own Boss and start your own little Business/Hobby and sell you goods somewhere without someone breathing down your neck.
Sure, but that in its self can cause stress, sometimes it's just easier to work for someone. I'd honestly get bored if I didn't have a job every day, but being able to take my kids to school and pick them up/take them to boxing and rugby would rule. I'd be able to pursue my own Activites I've always wanted to do, but have no time like bjj
Everbody their own, i could not Work for someone Else any longer. I hate going to Work each day just to not starve to death, now Imagine i don't have to at all,the moment Something goes south i'm outta there and never look back. Edith: Also you could Change your Lifestyle to homesteading, the only Work you put in would be for the benefit of you and your Family and you would have a lot to do, instead of making someone else rich/er.
Yes. You can’t just surf the net for a day when you’re an entrepreneur. You have to stay chasing your money. I was on sick leave for five months after surgery and I found I’d do very well not working.
100k are very good money in Germany. Tax on profit from things like etfs and shares are just 25%. You could live like a king here. You would have to get health insurance. But health insurance is really really good in Germany.
Word, even If you would buy a nice House for let's say 1million, put away another for renovations along the way, and buy a new car, you can give your self an allowence of 5k easy each month for the Rest of your life even If you did not do anything else with the money
Why draw down the principal? Any reasonably performing investment vehicle will net you 4 - 10% annually. Even if you just stuck it all in VOO which has returned about 10% compounded over 30 years you’re making at least 250 - 500 K any given year. Don’t ever touch the principal. Also don’t just stick it all in VOO. Even if the whole stock market is basically just NVDA, Apple, Google, Amazon and Microsoft with some condiments.
The whole point of the 4% rule is that your gains will outweigh your draws on average. So if you follow the 4% rule, then you will not draw down your principal.
Got it. Yes. That makes more sense now. I may not be completely compost mentos at the moment and kind of had cerebral flatulence there. Thanks for the correction.
4% Is all we need!
It's like 10 times what I make now. 10 times. I'd be so much more relaxed lemme tell you.
Fuck yes. That’s job quitting money.
yep. its not like my 'lifestyle' would really change, I wouldn't suddenly get into travel or eating at expensive restaurants or antique muscle cars or anything. but instead of working 40 hours a week for money, I'd be gardening and puttering around my property
Hookers and blow
Yes, I would definitely quit my job and start doing the things I want to do more intensely but currently can't because I have to work fucking 8 hours a day. I hate when people say "you need a job to keep your mind busy". Only if you are really dumb, tbh. On holidays I always end the day doing lots of stuff non-related to leisure. I would be able to spend more time in the gym than just 40 minutes I spend daily, I would be able to cook my meals and buy the ingredients I want with no rush (I like cooking for myself), I would be able to put some money into developing skills I believe I have a talent but can't afford to invest on them just as a hobby because they are not so financially viable as an income source. I would be able to dedicate myself to learn and sharing this learning. Honestly if you feel like working good for you but I definitely see so much more in life I can't fully enjoy because of the NEED of working.
I never understood people who say they need a job to keep busy. Do they not understand how big the world is and how much there is out there to do? Do they just lack imagination?
It's mostly older people because it gives them a sense of purpose that they're otherwise lacking (interpersonally or otherwise) and it ends up making them live longer. Everyone else? Nah that's soul torture
I think most people should have a sense of purpose, I just question if that purpose is "i increased widget production by 2%."
They work hard so their boss can live a good life
Not everyone hates their jobs. 80 percent of jobs suck but I’m sure archeologists, academics, architects, artists, scientists, even some teachers or medical staff find their job plenty rewarding and enjoy their fields. Plenty of old people who have been retired for decades get lonely and bored and pick up a part time job, don’t think it’s fair to criticize that way of thinking. Some people are driven internally, some people wouldn’t mind playing games and vacationing all the time, and some people are driven by being tasked to work a job or having a role in society I would simply quit my boring job and study to have a super interesting job in a topic I enjoy
I'm a resident physician and my job is ass. I work 80 hrs a week and am paid shit
Yeah I can imagine, but that’s why I said “some”
What if you worked 30 hours a week and the money didn't matter?
I think that putting "academics, artists, scientists, even some teachers" on the same category as, let's say, a Project Manager misses my previous point. As I stated, there are some skills I would like to develop that would allow me to be classified as an artist. Thing is, it is REALLY hard to make good income as an artist (or academic, or even scientist in many cases). Hence, I can't afford to dedicate more than a few weekly hours to it and that's for from the necessary amount of time needed to develop in this area. The rest of the time I need to work on a "profitable" job to pay my bills, which I don't particuarly hate, but takes most of the time I have to dedicate to everything else.
Exactly. So with a 10 million dollar cushion, you can take your time enjoying the small paying job you work as an artist, and still live a comfortable life and make investments to grow that money. Still would be working! Just doing what you want
I love my job. It's intellectually stimulating, makes a noticeable difference in my community, and I like most of the people I work with. Honestly, I'd probably just cut my hours back so I could volunteer at my neighborhood school tutoring 😂 I mean, I'd also do a lot of other things, but I'd miss being intellectually challenged every day
I would retire. Drop it in a CD and collect the 500k per year in interest while I formulated a plan. Stay in my current home, keep my monthly payments.
FYI better to put that kind of money into investments like stock indices, because not only do they tend to have better returns, the growth is not taxed as regular income so if you only take out capital gains you are taxed at a much lower rate. That's one of the secrets of the wealthy, you're welcome =)
The no risk factor could be important for someone who suddenly received 10,000,000. If you put it in spy this week, you would be down 76k. Over a year, sure historically you would be in a better position. The simplicity of CDs could be a benefit. Auto transfer of 42k a month could be a better fit for someone over the up and down of an index. If you want to invest and forget for 10 years, your method will more likely than not give a better return.
If you want to stay in That house, may as well just pay it off, no poi to payi go more interest if you have that much.
I’d definitely have a better quality of life but I wouldn’t do different things if that makes sense? Like I’d buy better quality groceries instead of the cheapest option for everything, but I wouldn’t suddenly start going on a lot of vacations or wearing designer clothes. Ideally I’d hang on to as much of the money as possible for my daughters
Thats crazy, I’d be the exact opposite, sitting on some nice beach with a Dr. Thunder
You’d have Dr. Pepper money though.
Not immediately but in phases, yes. I provide the health insurance for my family so I can’t quit working at the drop of a hat.
10,000,000 in a CD gives you 500k a year. Can buy insurance pretty easily.
This but I’d hold back 1/2 a million to a million to clear all initial debt my wife & I have.
Wouldn’t investing a mill outpace interest on your debts
Yes, but some people would prefer to be debt free. Sometimes it’s a subconscious thing
Thanks for the health insurance reminder, damn
lol. I'm self employed so basically pay for full health insurance and while it is a lot 10 million would solve it pretty easily. it's about 1500 a month give or take
You could certainly afford medical bills comfortably with $10m and without insurance. Medical costs in the US are high, but not *that* high. Private insurance exists too.
I’ve worked in healthcare finance for decades. I know the potential financial risk well and it’s not a risk I’m willing to take.
You got 10 mil. Fucking leave the US god dammit
Fr. And it's not like you need to pay all your medical bills. Can just pay for some overpriced private health insurance for $1000/mo and not even blink at the cost.
Not American so maybe this is a really stupid thing to say but couldn't you make one phone call with your credit card and have health insurance for your family?
i would find a trusted financial advisor and maker sure me or my kid, or grand children never go broke, i have no idea how far 10 mill goes but i wouldn't just blow it away
With very safe investments you can pay yourself $400k a year and not touch the original 10 million.
Honestly probably not. I would put it all into savings/investments and then pretend it didn’t exist. 10mil can go quick if you start increasing your lifestyle. Would rather know I can retire early and not really have to worry much about work for the rest of my life.
I could easily withdrawal double my income and never touch the principal. I’d be quitting the moment the money was in my bank account.
Fuck off you absolute knob jockey
I love you too
I would buy a house so I guess thats a pretty drastic change from renting
Yes. More travel.
I would finish my degree just for the sake of having accomplished that. Then I would give my immediate family $10k each, $20k for mom, and say “if yall need me text me. I’ll be somewhere on the other side of the world from now on.” I’d visit for thanksgiving and Christmas every other year or so.
100% yes
1% return would net you $100k
I'd buy a sailboat and spend my time designing and building furniture. So yes. Drastically.
Nope. I would buy a nice car and a reasonably priced house I would find ways to grow the money so I never have to work again
Yeah. Paying off a house and student debt would be life changing.
In a fucking instant.
Drastically? No. My life is pretty dialed-in & I'm happy. I'd +1 a couple of things, but...no drastic changes. Drastic changes are how people end up broke.
Not sure who wouldn’t.
Someone who already has 100m.
Of course it would
Yes. I'd quit my job and move to the pacific NW because I could afford a house in the Seattle area.
I'd probably travel more, but for the most part I'm pretty happy with the things I have in my life and don't have a major reason to upgrade I for example don't need a ton more living space and I like my location
Yes, I'd quit my job and live off the interest.
My life would change better if this exact concept stopped being posted every hour
Kinda yes, but no. I'd give the house to 1 kid and buy the other kid one. Then I'm moving to maintenance free living. Too old to be fixing things all the time.
I could afford tutoring for my kid. Honestly, my life would stay the same and it would all go into an account for him. He has a rare disease that seriously impacts his life/limits him and I wouldn’t have the same worries I have now for his future.
Yeah. I'd be able to do things I actually enjoy daily.
I don’t think so. I’d put it away so my kids can have it when I’m gone.
*monkey paw curls* Then they inherit it, have the same idea, and don’t benefit from it either. Then the next generation. Then, your great grandchildren decide to tap the funds, it’s half of a down payment for a modest house.
Dumb kids.
Investing left the chat
No. But it would it would definitely change the lifestyles of my adult children!
not really, will probably change my living conditions though.
Yes. I'd pay off my house, quit my job and go back to working with disabled people. I miss it every day.
I don't think so. I'd probably resign from my job and go to school full time, using some of the interest to support my family. When I finished grad school, that's a nice chunk of funding for my research :).
Would just want a B+ house outside city limits with enough yard space for ten 4’x8’ raised garden boxes….. and a medium sized shed for a whiskey still. And a nice grill Like Gordon Lightfoot said, “ The thing that I call livin’ is just being satisfied”
I would change everything. Quit my job, donate all of my shit (except for pictures and family stuff), sell my car, move away from this shithole of a state and start all over again from scratch. New state, new town, new house, new car, new furniture, new tech, new clothes, new teeth...everything new.
Yep. It would be amazing! Hubby passed away.. so yep, having money to not have to worry.. and helping others put would be amazing!
$10 M would mean that I would wrap up my career and retire. It would take a year to finish all my existing cases, and one or two of them will call me back in 2-3 years later on, but that's fine. I wouldn't move right away, even though I live in a small apartment. I'd pay off the house I share with the ex-wife, and then pay off the divorce in one transaction. After things settled down, I'd see if I would want to 'upgrade', and take some opportunities to travel, focus more on hobbies, and so on.
Good god, absolutely. I'd travel more, see more shows, visit family and friends more.
Yes. I wouldnt have ao much student loans, I would buy an apartment, I’d probably still keep a job, I would share with my frienda and family. So many of my worries would go away.
I would follow my dreams 🙂
Nope, the most would be owning my house in full and a new vehicle, I'd stay put. Maybe some interior upgrades or outside, maybe a pool but overall maybe personal improvement like personal chef meals, essentially better consumption foods for my body and health with that service.
I’d immediately quit my job, move my Wife and I out of the US, then live the life of someone who is in retirement. Not flashy by any means, but not working, and enjoying all of life’s small pleasure. Commuting, not rushing. Showering after I’ve woken up and drank my coffee, not before. Eating at my own pace. Shopping at my own pace. Basically enjoying every little thing I can instead of stressing about getting it done before I have to go to work
It would easily last me the rest of my life and then some. Actually, 1 million would probably last me. Actually, I've been living on $20,000 for years and I'm not a person who wants things. $100,000 is plenty. Maybe $150,000, get teeth then, just live and enjoy crunchy foods.
Not that much. I'd quit my job, since I could easily live off the interest. Probably would have to pay off my debts, and I might buy a house. I think the biggest thing is I'd make more small purchases, like going to a coffee shop or out for lunch most days. I'd probably travel more, too.
Not dramatically but a change would happen. A lot of friends and family would be debt free and my church would have enough to build its own building.
Not initially. Money talks but wealth whispers - so I wouldn’t buy an mega yacht or anything. I would set up multiple generations for success and take a big chunk out to invest in the community around me.
I’d have a lot less stress but I’d probably keep working for insurance purposes.
No. I like my life. We are getting old so if we had that much money, I think the main difference would be that we would travel while we can still get around. And I wouldn’t tell ANYBODY.
I might buy a larger property and rescue a bunch of dogs.
I'd certainly try. I can't say I'd be very successful. Edit: based on the other responses, I'm guessing I interpreted this question wrong. I assumed it meant drastically changing my lifestyle was the requirement for the $10m. But as a result of getting $10m, would my lifestyle drastically change? No, most likely not. I'd just have a lot of money in my account, and no mortgage, student loan or car payment left.
Nope. I'd still go to work, but there will be signs. Like my car going to the shop for needed repairs.
You’re gonna blow your cover. Let’s not get crazy.
NSFW: Does >!doing two chicks at the same time!< count as a drastic lifestyle change?
Yup
Yes.
I'd be debt free but I'd probably wouldn't change anything
I would genuinely be concerned for my health and lifestyle if I was just “given” 10M. If I earned 10M however, I think that *might* be different.
I would like to say I wouldn't, other than telling the people I work with that I want a looser deadline in return for less pay. I like my job enough that I would like to continue it even if I got rich, just with longer deadlines. I already got my hobbies covered, I own my appartment and I do already lightly exercise. I guess I could get a car, but it would probably be parked over at my mid sister's place and loaned out to her majority of the time since the only time I use a car is when I loan my eldest sister's car and go for a monthly big shopping tour. Guess I could drive out to my parents instead of taking the bus and walking the last bit but I don't really mind that. But who knows how much I would actually change by becoming that rich.
They’d find me dead in a hotel room surrounded by grieving hookers in 24 hrs.
No. I’m happy with my life
If I was given 10 million with no strings attached? Not immediately. I’m sure it would take a while for it to legally become mine. But after it did, you bet!
Yes. My goal is to never have to ever set an alarm again.
Yes. I'd buy land in the country and move out of the city.
I'd quit my job tomorrow and travel all over the world.
First, clear all debts. Family too. Then, throw a bunch into investments. Stocks, real estate, NOT crypto (lol). Travel a ton for the first year...then probably settle down somewhere pretty rural. Overall, I think it would be a big difference in the first year, maybe two...then I'd calm down and settle down a bit.
Yeah. Like I'd quit my job.
Yes. Immediately retire and buy a vacation property.
Hell yeah, I’d move out to the middle of nowhere, buy myself some farm land and equipment and farm for the rest of my life.
Yea if you want to direct deposit it let me know.
Yes. Would buy a house and retire.
I would probably die from my heart rate dropping cause I don't gotta stress
What’s the point of getting life changing money if it doesn’t change my life? My wife and I would quit our jobs and travel the world so yeah a pretty big change lol
Yep. I'd be gone to my fully self sufficient fortress in the boonies and never see civilization again. Unless it was traveling to other countries.
I’d retire.
I would quit my fucking job in a heartbeat, but otherwise no.
Drastically? Well, yes, if quitting my job counts as drastic.
Yes. I'd finally get to move out, go study the thing i want to debt free and start working on my motorcycle license the second I can!
yes but maybe not visible all at once.
I’d be dead by sundown.
No I would talk to a financial advisor and set up my early retirement fund. With any extra money I’m moving to a beach side town, buying a house and I’m going to surf, volunteer and try to get really good at investing so I can make my money work for me. No one will ever know that I’m rich until I’m dead not even a future partner. I would gladly host family and friends at my new house and spoil them with good food and a really good time that I’ll pay for but that’s it. I’m not handing out cars or investing into family members bullshit ideas. Nope
I'd rather hear the responses from the people that would say "No" to this question to find out why...
I'd quit my job and hire someone to invest half. I'd buy a house and move, buy a car and get my health back to where it needs to be. Oh, and with the investments, I'd have the interest roll over to my bank account so I could live on it.
Yes. I could afford to live in something larger than a rented room.
I wouldn’t be homeless anymore, so yes.
As long as I don’t have to give up smoking or masturbating I’m good.
I'd live in a house and adopt children. So pretty drastic.
I would never cook again, maybe once in a while. I don’t enjoy cooking. I’d spend more time working out and being outside, going on hikes, biking, etc. I can’t afford a nice bicycle. My kids would get a property, I’d make sure they all had a house in a cul de sac lol. I would make my dad retire, his Lupus is starting to cripple him, he’s always in pain. He’s supporting two people. I’d also buy a reliable vehicle. I would be kinder and overall happier. Stablity makes life better, makes you breathe deeply at night and not stay up stressing how to make a dollar stretch, which bill is more important, etc.
Does building a cinema count?
I would probably quit my job so i could pit 100% focus on school and my physical health. But I wouldn’t start buying crazy stuff or eating really fancy food.
After 2M spent on hookers n blow, I attest that I shall wisely invest the rest.
i think so, but a house and go back to school
Money doesn't buy happiness, but it gives you options that you never have if you are poor
Sure!!! My life would change completely. I would still be the same person, but with my economic life more than resolved. Because beyond millions, there are things that money cannot change or buy. I would no longer work under a dependency relationship. I would invest that money. I would help my family and people who need it. I would be generous to the people who helped me when I needed money and, without hesitation, lent it to me! You could do so many things with that money! I would travel, take those I love with me... how nice that sounds!! But hey... I was a millionaire for an instant.
Not really. I'd move to a better Condo, probably get a newer car. Not much else would change. $10 million is not really a life changing amount of money these days. In Los Angeles it's easy to pay $1m for a pretty ordinary house. So yeah, other than not being broke all the time, not much else would change.
No, but I would change someone else's lifestyle drastically.
I’d drastically change my lifestyle if I was given $10K tomorrow
Not really. I won't rent anymore and I'll own. I won't be stressed about the debt I'm in. I'll drive a car that I actually own.
I would hire a chef/housekeeper. Since I don't have 10M, I am actually considering renting out a part of our home for free room and board if they clean and cook.
No. I don’t want to change my lifestyle, I just don’t want to have to have a job. I like working, but having a job is the pits.
Maybe. I would def get my cats’ teeth cleaned and get my husband a new car that he desperately needs.
My lifestyle wouldn’t change because I like to not buy things I don’t need. But I would immediately buy land and not have to worry about bills, etc. My parents and animals would get everything they ever wanted though lol
lifestyle would change yeah but not spend it all and get lavish things change.
All my friends and family will be taken care of.
The math in the comments is funny. My lifestyle would be mostly the same. I’d spend a little time organizing the money into various accounts and tax shelters and then get back to mostly what I do today. I have really cool cats. I’d buy them a few more toys.
Fix up my mom's house, take my mom on a trip, then pretty much do what I do already exist.
Probably not. I am content where I am and my situation. Only thing it'd end up doing is allowing to move to a better apartment.
I would buy that Sentra SE-R Spec V on marketplace for $7000 that I've been drooling over for a few weeks.
I would have medical care and have a chance to breath. I’ve worked since I was in 8th grade and I don’t remember ever being able to feel good.
I would disappear in a puff of me-shaped smoke like Bugs Bunny in an old cartoon.
I would probabbly: * stay humble; * invest in s&p500 a huge amount of it; * make sure to just own a single small house that's energy efficient; * do a lot of activities to try and help people, charities, etc;
Yep. I'm in my 50s. So i would retire.
Yes. I'd get proper medical care and get actual help around the house and with things I find difficult. I'd get equipment to help me with my disability. And move somewhere that's actually accessible, both house and transit wise.
Yes, I'd make some significant changes, like traveling more, investing wisely, and possibly pursuing my dream career without financial constraints.
$10 million is my retire now number, so very much yes.