If you suddenly became rich, how much would your life change?

[Corroc]

How is not 1 million alot in america? I thought the top 10% only earn like 150-200k a year?

[EliWallach]

Not much. New car and some new toys but the bulk would go into a couple of good mutual funds. 10 million more so but I'd give maybe half to bro and in-laws. 100 million, well now one can dream.

[StayTuned]

How is not 1 million alot in america? I thought the top 10% only earn like 150-200k a year?

Which would only get you 5 years down the road by their standard.
With a million I'd just buy a house and save the rest.

Now 10 million.... I'd live comfortably by just cashing in the monthly interest on that.

[Corroc]

Which would only get you 5 years down the road by their standard.
With a million I'd just buy a house and save the rest.

Now 10 million.... I'd live comfortably by just cashing in the monthly interest on that.

Just because you make 150k year doesn't mean you spend 150k a year. How would you spend 11k a month for 5 years in row?

[WskyDK]

Nothing would change. Everything left after taxes would be invested so as to grow until my wife and I decide to retire.

[Rotted]

Pay off the folks mortgage first, they had to take a 2nd one out really late on in life because of a disaster and wont have it paid off until dads 70. Hes 62 now, both are self employed and to stay competitive in what they do, neither take a wage out of the company and they don't hire anyone but produce the equivalent of 5 or so people working for them. This has been going on for nearly 10 years now.

Next I'd invest in a little apartment for myself, the location would be based on where I was going to do my masters and phd, which given having won that cash I'd have the liberty to pick anything to do (Some are funded, most aren't and have a upfront cost of 45k upwards)

Rest of it in the bank until I finished my PhD and decided where I was going next.

[Deleted]

If it's a nice sum of money, I would buy a restaurant.

[HumbleDuck]

Not that much.

[Mendzia]

I am fine with my current place but additional funds are always welcome.
Anyway it will not change that much i think.

[Deleted]

My life would change dramatically. Right now i gotta work in a shitty full time job and live from paycheck to paycheck in an for me unpleasant city i actually don't want be at. I'm not poor, got no depts but things like having a car or going to beach holidays at least once per year is a luxury i cannot afford.

With 1-2 million i would move back home where i originally come from (wonderful little place in the countryside, fantastic nature, low crime rate, lakes, mountains, hills n stuff), buy myself and my spouse a little house or bigger fancy appartment + a "reasonable" middle class car and stop working for good. I would safely invest the remaining money that it will last until the rest of my life. I would live an easy peaceful life.. swimming, hiking in the woods, skiing in the alps in winter, travel a little bit whenever i feel to.. Just relaxing and do what i want to do, when i want to do.

[Archon14]

There would be a big change, but I wouldn't call it a "life change".

My brother and I would live much more comfortably with that amount of money, but we would likely pursue the same careers, friends, interests and goals.

The only real difference is that we would be able to accomplish some of those goals much sooner that we thought.

Edit: In case it wasn't obvious, whoever gets the million, my bro or me, we're still doing it together.

[Stelio Kontos]

1 million wouldn't go terribly far in the Seattle area.

I'd pay off my school debt, help my brother and mother with any debts they have, maybe buy a car in the 50k range, otherwise, invest and find a way to increase that money.

[kingj56]

My life and quality of life would change DRAMTICALLY! I could quit these bum ass jobs i have and finally pursue my fucking career (engineering). No more worrying about being late to a job i absolutely care NOTHING for, or hearing bitchy bosses talk shit about performance or hear whiny fucking customers complain about shit we dont have or are out of. Money as little as 100k hell 50k would stretch really far where im from and help me accomplish all this and i would still have almost half left over. Money like that would allow me to quit my job, so i can focus on myself totally so i can get my ADHD under control to finish school. GAWD life would be waaaaaaay less depressing and id be a hell lot more optimistic....well at least less pessimistic lol.

TLDR: FUCK WORK! FUCK DEBT! YAY STEM DEGREE! GIVE ME MONEY AND ILL BE HAPPY!!!

[StayTuned]

Just because you make 150k year doesn't mean you spend 150k a year. How would you spend 11k a month for 5 years in row?

Easy. If I had the income of 11k per month, I'd have the luxury stuff that goes along with it. Car, boat, and so forth. Maintenance eats your money more than regular spending

Plus.... Even if you make it last 10 years.... Still not enough. I'd be bankrupt in my 40s with no way of maintaining what I bought.

You don't quit your job with only a million anyway...

[Rageadon]

Pay down the loan, store the rest and let it grow, then quit working

[Corroc]

Easy. If I had the income of 11k per month, I'd have the luxury stuff that goes along with it. Car, boat, and so forth. Maintenance eats your money more than regular spending

Plus.... Even if you make it last 10 years.... Still not enough. I'd be bankrupt in my 40s with no way of maintaining what I bought.

You don't quit your job with only a million anyway...

Well atleast you dont ever have to worry about being wealthy. Because you dont get those habits by getting rich, you have those habits that keep you living from paycheck to paycheck.

[Adamas102]

Pay down the loan, store the rest and let it grow, then quit working

Wish I lived in this fantasy world where investments just GROW and one million dollars is enough to retire on...

[StayTuned]

Well atleast you dont ever have to worry about being wealthy. Because you dont get those habits by getting rich, you have those habits tuhat keep you living from paycheck to paycheck.

Wealthy people live in tents? Or do you claim you become wealthy by saving up money each month? Makes no sense. You get wealthy by having a good paying job.

Shit paying jobs don't allow you to save anything anyway

[Corroc]

Wealthy people live in tents? Or do you claim you become wealthy by saving up money each month? Makes no sense. You get wealthy by having a good paying job.

Shit paying jobs don't allow you to save anything anyway

You get wealthy by earning more than you are spending. Then you have money to use it when you really want change to your life. You have option to spend everything when you get it for the 5min kick or you can live your life normally and do stuff when you actually want to do stuff. Take a special vacations, buy a little bit better car when your old one breaks down. It has actually been researched that people with higher income dont spend that much more money than people with lower income.

Besides there is big cap in good paying job and shit paying job.

[StayTuned]

You get wealthy by earning more than you are spending. Then you have money to use it when you really want change to your life. You have option to spend everything when you get it for the 5min kick or you can live your life normally and do stuff when you actually want to do stuff. Take a special vacations, buy a little bit better car when your old one breaks down. It has actually been researched that people with higher income dont spend that much more money than people with lower income.

Besides there is big cap in good paying job and shit paying job.

Well, yes. Nobody said that you'd want to literally spend 11k if you make 11k. You need reserves. But you asked how someone could spend that much money. Well, that's how. Just buy stuff.

The research also can't be comparing millionaires to regular incomes. If you earn that money you also want the rewards.

But I can see that there might be less of a difference when comparing 50-200k incomes per year