Feeling middle class w/ a Net Worth of 10 million

[Sumguy]

Poor her. She can only afford a mansion instead of a fortress.

Seriously, if you are going to live off of the $10mil that fell on your lap, the first reasonable thing to come to your mind should probably be to GTFO of New York and find a cheaper, comfortable place to live in.

 

[Xavier434]

Originally posted by: Sumguy
Poor her. She can only afford a mansion instead of a fortress.

Seriously, if you are going to live off of the $10mil that fell on your lap, the first reasonable thing to come to your mind should probably be to GTFO of New York and find a cheaper, comfortable place to live in.

I'm not saying that this is a bad idea, but the problem is that it wouldn't make any difference. For people like her, no amount of money is ever enough unless you rank up there in the Fortune 500 and even then a bunch of those people bitch and complain all of the time. The only thing that these people's obsession over wealth has bought them is an infinite supply of dissatisfaction with no reasonable justification.

 

[Jeff7]

Did I hear that right? She said she called up her rich friends to ask them what luxuries to buy?

"Wow, I have money now. I need to go spend it right away!!! I will likely die if I do not spend this money immediately."

Originally posted by: txrandom
She sounds retarded.

Yeah like, as if!

 

[IceBergSLiM]

10 million will get you an okay yacht.

 

[BW86]

cry me a fvcking river

 

[Sumguy]

Originally posted by: Xavier434

Originally posted by: Sumguy
Poor her. She can only afford a mansion instead of a fortress.

Seriously, if you are going to live off of the $10mil that fell on your lap, the first reasonable thing to come to your mind should probably be to GTFO of New York and find a cheaper, comfortable place to live in.

I'm not saying that this is a bad idea, but the problem is that it wouldn't make any difference. For people like her, no amount of money is ever enough unless you rank up there in the Fortune 500 and even then a bunch of those people bitch and complain all of the time. The only thing that these people's obsession over wealth has bought them is an infinite supply of dissatisfaction with no reasonable justification.

True, even if she was as rich as Oprah she would still complain because Bill Gates has more money than her.

 

[LeadMagnet]

Originally posted by: AccruedExpenditure

Originally posted by: Anubis

Originally posted by: AccruedExpenditure

Originally posted by: BurnItDwn
If I had 10 million dollars I would live on my own private island (something around 100 acres would be perfect, Northern US or Canada would be good location for me. Could probably get 100 acre island for under 1 mil. I would build a castle also.

Just to piss people off, I would complain all the time about having to take a ferry to get anywhere!

I doubt you could get a private island for 1 million dollars
-AE

im sure you could

hell you can buy entire townships in Maine for that much

link?

$255.00

$50k

$300k

 

[TheWart]

I am slightly confused....even if she "just" put 3,000,000 in a 3.5% interest account (compounded yearly) and plopped in another $8,000 a month, after just two years the money she would make off of interest would be over $220,000. Even after tax, that is a significant amount, and definitely possible to live off of that, and that is just interest.

Also, she probably has enough set aside to max out her ROTH for the next umpteenth years, so it's not like she is going to have a huge problem retiring.

 

[xSauronx]

Originally posted by: BurnItDwn
If I had 10 million dollars I would live on my own private island (something around 100 acres would be perfect, Northern US or Canada would be good location for me. Could probably get 100 acre island for under 1 mil. I would build a castle also.

Just to piss people off, I would complain all the time about having to take a ferry to get anywhere!

id buy a couple of small towns in kansas and set them on fire.

 

[sammyunltd]

She's retarded. 10 million dollars is enough for everyone, provided that he or she spends it wisely.

If you decide to spend half of it, take the other half and spare it, put it in a 3-4% interest (yearly) bank account like ING Direct (or even better, depending on what she can get).
Just to give you an idea... 5 million $ at 4% yields $200k, or nearly $17k per month, which is way enough to live, alone, pay whatever rent you have to pay in a decent penthouse in NYC (prolly not Manhattan's Fifth Avenue), in Brooklyn/Queens (which is still decent).

 

[CasioTech]

I'd put away 9 million @ 4% and live off that. That's like $300k a year.

I'd blow a million on a Diesel store and to meet ATB, Tom Welling and Jael the vocalist.

I bet her site is worth $100 million today.

 

[CasioTech]

Originally posted by: Joemonkey

Originally posted by: aigomorla

Originally posted by: Gibson486

Originally posted by: trmiv
Smallest violin in the world.... I'd love to have her problems. Move out of NYC you dumb bitch, you could have massive frigging pad around here for less than a million.

It astounds me that lots of people who make millions are dumb as a rock I can't see how she fails to see a solution to this problem.

you cant expect someone to move out of there town.

The first thing you expect when rich is you think you can live BETTER in the town your currently at.

:\


The whole story is about inflation. And how bad its got.


i have clients who were litterally millionares overnight. And they all share the same common story with this lady. With more income comes more taxes and other things.

How the hell do you manage to have clients that are millionaires when you have no idea how to spell or use correct grammar?

stallOWNED! :thumbsup:

 

[CasioTech]

oh yeah, why doesn't she have the $23 million? Even after taxes she should be somewhere at 15 million.

 

[Special K]

Originally posted by: sammyunltd
She's retarded. 10 million dollars is enough for everyone, provided that he or she spends it wisely.

If you decide to spend half of it, take the other half and spare it, put it in a 3-4% interest (yearly) bank account like ING Direct (or even better, depending on what she can get).
Just to give you an idea... 5 million $ at 4% yields $200k, or nearly $17k per month, which is way enough to live, alone, pay whatever rent you have to pay in a decent penthouse in NYC (prolly not Manhattan's Fifth Avenue), in Brooklyn/Queens (which is still decent).

It's unlikely she could always get an after-tax return of 4% by using savings accounts. She would probably have to invest it in some sort of balanced fund (say 60/40 bonds/stocks) to retain her earning power over the years.

That said, her "rant" is pointless. She could easily have a comfortable living with that money.

 

[Baked]

Only in America. Oh well.

 

[Throckmorton]

Poor lady. She deserves a tax break

 

[Gooberlx2]

Originally posted by: txrandom
She sounds retarded.

Seriously, I thought she was deaf after her first few words....maybe it was the compression.

 

[spidey07]

Originally posted by: sammyunltd
She's retarded. 10 million dollars is enough for everyone, provided that he or she spends it wisely.

If you decide to spend half of it, take the other half and spare it, put it in a 3-4% interest (yearly) bank account like ING Direct (or even better, depending on what she can get).
Just to give you an idea... 5 million $ at 4% yields $200k, or nearly $17k per month, which is way enough to live, alone, pay whatever rent you have to pay in a decent penthouse in NYC (prolly not Manhattan's Fifth Avenue), in Brooklyn/Queens (which is still decent).

You forget that close to half of that will be taken out in taxes. 100K after taxes isn't a lot in NYC.

 

[insect9]

WTF? Talk about out of freaking touch. Poor woman, only has 10 million and cant even afford a share in a pirvate jet. Makes me want to send her some money. :roll:

 

[TehMac]

Originally posted by: Mo0o
I like how her definition of not being middle class involves a private driver

Hell, if I was rich, I'd wanna drive myself. It's cooler.

 

[Tweak155]

My grandpa-in-law won less than 10mil on the lottery and I haven't heard him complain once.

He owns more than one house too.

I don't know what this girl's problem is...

 

[Sumguy]

Originally posted by: Tweak155
My grandpa-in-law won less than 10mil on the lottery and I haven't heard him complain once.

He owns more than one house too.

I don't know what this girl's problem is...

Stupidity.

 

[HannibalX]

It may have been said already, I didn't read the thread.

I am sure you can find a place to live in NYC that has an elevator.

 

[nerp]

Originally posted by: Joemonkey
How the hell do you manage to have clients that are millionaires when you have no idea how to spell or use correct grammar?

Luckily, not much business is conducted on Anandtech Forums!

 

[Dr. Detroit]

Watched the MSNBC special this evening.

$10mil is rich in middle America. When you need $5Mil to buy a nice apartment in Manhattan where everything is more expensive than $10mil is definitely not rich.

When they showed the guy from Silicon Valley at age 45 with about 3.5 million in net-worth, I felt for the guy especially when the median housing price is in the $750K range and a nice home of say 2000sqft on a 8000sq ft lot in a good nighborhood will set you bak $950K.

These people should move to middle America and enjoy their lives, instead they continue to raise their standard of living even higher and consume what I would consider overpriced junk.