If you got real rich real quick, what would you do?

Page 8 - Seeking answers? Join the AnandTech community: where nearly half-a-million members share solutions and discuss the latest tech.

manimal

Lifer
Mar 30, 2007
13,559
8
0
oh forgot to mention I would buy the best 3d printers and use them to make more printers!

oh then I would use the 3d printers to make a lego house. 20 million pieces should do it.
 

IronWing

No Lifer
Jul 20, 2001
72,762
33,718
136
two_little_yellow_chicks-wide.jpg
 

Kaido

Elite Member & Kitchen Overlord
Feb 14, 2004
51,391
7,137
136
I'd never ever work again. Ever. That does not mean do nothing, but there is charity work I could do, I have hobbies, and I would not owe one cent on anything. Ever.

Man, I'd go bananas if I didn't have a job. I don't necessarily love working, but I need something to do every day to function in life, haha. I'm a total loaf without responsibilities :awe:
 

OBLAMA2009

Diamond Member
Apr 17, 2008
6,574
3
0
Title is simple: If you got real rich real quick, what would you do?

First thing I would do is to donate to charity. Not because I want to help anyone, I would want to pay the min taxes possible each year.

Second, play the stock market. I need to invest in something to make sure I have a small-medium river of profit still coming in for that just in case (aka, couch money)

Third, start spending.

u know what i hate about "charities"? they are all scams that spend less than 10% of what they bring in on actually helping people. most of what goodwill/salvation army/united way brings in goes to pay multimillion dollars salaries to management. imagine if there was a tax deduction for straight out giving cash to po fokes, it would put all the scammers out of business and give people a tons of help at the same time
 

gotsmack

Diamond Member
Mar 4, 2001
5,768
0
71
lol, "normal" for you is $300k+/yr? That's less than 4%, which is low enough to account for inflation/etc as well.

I'll happily retire 20 years before you and have 2-3x as much time in retirement instead of slaving away until I'm old.

How is that 300k a year? I'm 35-40 years away from retirement and then I'll have to downgrade my lifestyle, so I figure 55 years of life left and the money I have will only keep up with inflation, that's only $145k a year, assuming I get the high end of my range at 8 mill, which is nothing if you want to live in Manhattan and raise a small family.
 

jlee

Lifer
Sep 12, 2001
48,518
223
106
How is that 300k a year? I'm 35-40 years away from retirement and then I'll have to downgrade my lifestyle, so I figure 55 years of life left and the money I have will only keep up with inflation, that's only $145k a year, assuming I get the high end of my range at 8 mill, which is nothing if you want to live in Manhattan and raise a small family.

If the money you have is only keeping up with inflation, you're doing it wrong. :)
 

NoTine42

Golden Member
Sep 30, 2013
1,387
78
91
Why do you people hate working so much?

It seems the people that live the longest are the people that stay active by working.

Because we know most employers aren't going to agree to 12 weeks of vacation (for travel) and 32 hour (4 8hr days) per week working remotely from remote areas ;)

But, yes, activity is needed.
I'd probably start out getting some tractors / dirt moving equipment and putz around my acreage, and build a machine shop for more fiddling around.
I probably would need to take on some regular volunteer work.

Forest Gump had it figured out, mow a bunch (just get something more manly than that Snapper RER). I would still mow my property, unless I was traveling.
 

Jaepheth

Platinum Member
Apr 29, 2006
2,572
25
91
First thing: get a lawyer

then I'd stuff it all in the bank and get used to any new tax liabilities.

Then slowly expand my living style to fill my new means.

(Charity included in part 3)
 

gotsmack

Diamond Member
Mar 4, 2001
5,768
0
71
If the money you have is only keeping up with inflation, you're doing it wrong. :)

Eh, I'd rather not take risks with that amount of money. I could:

A) generate a small consistent return but risk losing a chunk of it if we hit a down year

or

B) keep it in TIPS or something like TIPS and have a guaranteed level of decent lifestyle for the rest of my life.

I think that's where the newly rich go wrong. They risk it to get to the next level while the ultra rich have 10s of millions sitting in things like Treasuries and Real Estate not generating any real income because it's "Stay Rich Money" for in case the market craps out and they lose all of their risky investments.
 
Last edited:

Subyman

Moderator <br> VC&G Forum
Mar 18, 2005
7,876
32
86
I would counter and say those who live the longest, or at least live the most, are the ones who do what they love.

For me, that's not working.

Agree. I have tons of hobbies that could occupy my entire life without lifting a finger to do something for profit. Luckily, my job aligns with some of my hobbies, so I can make money while enjoying life. I ran away from the 9-5 lifestyle as I finished college and am so grateful that I didn't get stuck in that rut. It is not for me.
 

SteveGrabowski

Diamond Member
Oct 20, 2014
8,930
7,649
136
I would build this system over and over again, and give it away as an epic gaming PC in a contest at every tech forum I could find:

PCPartPicker part list / Price breakdown by merchant

CPU: AMD FX-9590 4.7GHz 8-Core OEM/Tray Processor ($214.99 @ NCIX US)
CPU Cooler: Masscool 5T568S1H3 33.8 CFM Sleeve Bearing CPU Cooler ($4.98 @ OutletPC)
Motherboard: Asus Crosshair V Formula-Z ATX AM3+ Motherboard ($218.99 @ SuperBiiz)
Memory: G.Skill Trident X Series 16GB (4 x 4GB) DDR3-3100 Memory ($1355.38 @ Newegg)
Storage: OCZ Vertex 2 EX 200GB 2.5" Solid State Drive ($3576.84 @ Amazon)
Storage: OCZ Vertex 2 EX 200GB 2.5" Solid State Drive ($3576.84 @ Amazon)
Storage: OCZ Vertex 2 EX 200GB 2.5" Solid State Drive ($3576.84 @ Amazon)
Storage: OCZ Vertex 2 EX 200GB 2.5" Solid State Drive ($3576.84 @ Amazon)
Storage: OCZ Vertex 2 EX 200GB 2.5" Solid State Drive ($3576.84 @ Amazon)
Storage: OCZ R4 1.2TB PCI-E Solid State Drive ($7399.99 @ Directron)
Video Card: Zotac GeForce GTX 480 1.5GB Video Card (3-Way SLI) ($699.00 @ Amazon)
Video Card: Zotac GeForce GTX 480 1.5GB Video Card (3-Way SLI) ($699.00 @ Amazon)
Video Card: Zotac GeForce GTX 480 1.5GB Video Card (3-Way SLI) ($699.00 @ Amazon)
Case: Nanoxia NXDS5B ATX Full Tower Case ($134.99 @ Micro Center)
Power Supply: Raidmax 1200W 80+ Bronze Certified Semi-Modular ATX Power Supply ($109.99 @ Newegg)
Optical Drive: Lite-On iHAS224-06 DVD/CD Writer ($129.99 @ Amazon)
Other: Windows Vista ($169.95)
Total: $29720.45
Prices include shipping, taxes, and discounts when available
Generated by PCPartPicker 2015-01-18 20:39 EST-0500
 

Timorous

Golden Member
Oct 27, 2008
1,978
3,864
136
I already have a retirement plan and should be able to leave work by the time I am 40. If I won a lot of money it would just accelerate this plan. I would probably need £500,000 to retire now and any more than that would just be gravy and make my life even more comfortable.
 

dank69

Lifer
Oct 6, 2009
37,306
32,896
136
I would build this system over and over again, and give it away as an epic gaming PC in a contest at every tech forum I could find:

PCPartPicker part list / Price breakdown by merchant

CPU: AMD FX-9590 4.7GHz 8-Core OEM/Tray Processor ($214.99 @ NCIX US)
CPU Cooler: Masscool 5T568S1H3 33.8 CFM Sleeve Bearing CPU Cooler ($4.98 @ OutletPC)
Motherboard: Asus Crosshair V Formula-Z ATX AM3+ Motherboard ($218.99 @ SuperBiiz)
Memory: G.Skill Trident X Series 16GB (4 x 4GB) DDR3-3100 Memory ($1355.38 @ Newegg)
Storage: OCZ Vertex 2 EX 200GB 2.5" Solid State Drive ($3576.84 @ Amazon)
Storage: OCZ Vertex 2 EX 200GB 2.5" Solid State Drive ($3576.84 @ Amazon)
Storage: OCZ Vertex 2 EX 200GB 2.5" Solid State Drive ($3576.84 @ Amazon)
Storage: OCZ Vertex 2 EX 200GB 2.5" Solid State Drive ($3576.84 @ Amazon)
Storage: OCZ Vertex 2 EX 200GB 2.5" Solid State Drive ($3576.84 @ Amazon)
Storage: OCZ R4 1.2TB PCI-E Solid State Drive ($7399.99 @ Directron)
Video Card: Zotac GeForce GTX 480 1.5GB Video Card (3-Way SLI) ($699.00 @ Amazon)
Video Card: Zotac GeForce GTX 480 1.5GB Video Card (3-Way SLI) ($699.00 @ Amazon)
Video Card: Zotac GeForce GTX 480 1.5GB Video Card (3-Way SLI) ($699.00 @ Amazon)
Case: Nanoxia NXDS5B ATX Full Tower Case ($134.99 @ Micro Center)
Power Supply: Raidmax 1200W 80+ Bronze Certified Semi-Modular ATX Power Supply ($109.99 @ Newegg)
Optical Drive: Lite-On iHAS224-06 DVD/CD Writer ($129.99 @ Amazon)
Other: Windows Vista ($169.95)
Total: $29720.45
Prices include shipping, taxes, and discounts when available
Generated by PCPartPicker 2015-01-18 20:39 EST-0500
Why cheap out on the CPU? Vista? Is this some sort of inside joke?

Edit: oh I get it now, hehe.
 

John Connor

Lifer
Nov 30, 2012
22,757
619
121
I would build this system over and over again, and give it away as an epic gaming PC in a contest at every tech forum I could find:

PCPartPicker part list / Price breakdown by merchant

CPU: AMD FX-9590 4.7GHz 8-Core OEM/Tray Processor ($214.99 @ NCIX US)
CPU Cooler: Masscool 5T568S1H3 33.8 CFM Sleeve Bearing CPU Cooler ($4.98 @ OutletPC)
Motherboard: Asus Crosshair V Formula-Z ATX AM3+ Motherboard ($218.99 @ SuperBiiz)
Memory: G.Skill Trident X Series 16GB (4 x 4GB) DDR3-3100 Memory ($1355.38 @ Newegg)
Storage: OCZ Vertex 2 EX 200GB 2.5" Solid State Drive ($3576.84 @ Amazon)
Storage: OCZ Vertex 2 EX 200GB 2.5" Solid State Drive ($3576.84 @ Amazon)
Storage: OCZ Vertex 2 EX 200GB 2.5" Solid State Drive ($3576.84 @ Amazon)
Storage: OCZ Vertex 2 EX 200GB 2.5" Solid State Drive ($3576.84 @ Amazon)
Storage: OCZ Vertex 2 EX 200GB 2.5" Solid State Drive ($3576.84 @ Amazon)
Storage: OCZ R4 1.2TB PCI-E Solid State Drive ($7399.99 @ Directron)
Video Card: Zotac GeForce GTX 480 1.5GB Video Card (3-Way SLI) ($699.00 @ Amazon)
Video Card: Zotac GeForce GTX 480 1.5GB Video Card (3-Way SLI) ($699.00 @ Amazon)
Video Card: Zotac GeForce GTX 480 1.5GB Video Card (3-Way SLI) ($699.00 @ Amazon)
Case: Nanoxia NXDS5B ATX Full Tower Case ($134.99 @ Micro Center)
Power Supply: Raidmax 1200W 80+ Bronze Certified Semi-Modular ATX Power Supply ($109.99 @ Newegg)
Optical Drive: Lite-On iHAS224-06 DVD/CD Writer ($129.99 @ Amazon)
Other: Windows Vista ($169.95)
Total: $29720.45
Prices include shipping, taxes, and discounts when available
Generated by PCPartPicker 2015-01-18 20:39 EST-0500


LMAO!
 

jlee

Lifer
Sep 12, 2001
48,518
223
106
Eh, I'd rather not take risks with that amount of money. I could:

A) generate a small consistent return but risk losing a chunk of it if we hit a down year

or

B) keep it in TIPS or something like TIPS and have a guaranteed level of decent lifestyle for the rest of my life.

I think that's where the newly rich go wrong. They risk it to get to the next level while the ultra rich have 10s of millions sitting in things like Treasuries and Real Estate not generating any real income because it's "Stay Rich Money" for in case the market craps out and they lose all of their risky investments.

Yup, Warren Buffet surely isn't making generating any real income. He's just holding onto 'stay rich money'. :colbert:
 

stlc8tr

Golden Member
Jan 5, 2011
1,106
4
76
How is that 300k a year? I'm 35-40 years away from retirement and then I'll have to downgrade my lifestyle, so I figure 55 years of life left and the money I have will only keep up with inflation, that's only $145k a year, assuming I get the high end of my range at 8 mill, which is nothing if you want to live in Manhattan and raise a small family.

You didn't mention that $8M was in 2055 dollars.

Otherwise, the rule of thumb when withdrawing from retirement funds is an annual 3%-4% rate, indexed for inflation. That means if you have $8M banked, you should withdraw anywhere from $240K to $320K, depending on how aggressive you want to be.
 

Dr. Zaus

Lifer
Oct 16, 2008
11,764
347
126
help fund a guaranteed universal basic income

By political camping or by securing 150 trillion in investments @8% and letting everyone in the US live off of the interest while keeping up with inflation? (this would give all 300 million in the US about 20k a year.)

(A difficult challenge as all listed firms in the US = only 21 trillion dollars and the total assets of the country only = 131 trillion)

If we just spend the money to do this we would be spending 33% of our overall GDP on giving away money... so a 33% tax on every transaction and you've got everyone getting a minimum income of 20k! 66% and we've got a utopia of 40K
 
Last edited: