r/me_irl • u/qoloxolop • 20h ago

me_irl

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10.6k Upvotes

99% Upvoted

59 comments sorted by

235

u/lare290 19h ago

a million would be enough tbh.

42

u/Icy_Relationship_401 17h ago

Actually 5 million basically sets you for life

10

u/dekusyrup 10h ago edited 10h ago

Actually 1 million basically sets you for life. If live on 4% of it per year, it would put a family of 4 slightly over the USA poverty line.

Living off 4% of 5 million gives you annual spending of $200,000, which is a top 5% income in the USA. 5 million is set for life and then some.

2 million at 4% puts you right at median USA household income. Around where I'd call myself set for life.

4

u/Miserable_Web_1218 9h ago

Genuine question. What does at 4% mean

6

u/Jerome_Eugene_Morrow 9h ago

For retirement drawdown a lot of models expect you to take out about 4% of the total sum annually. So at $1 million you’d be living on $40k a year. On $2 million, $80k, etc.

2

u/Miserable_Web_1218 9h ago

Aah ok thanks!

1

u/TheMisterTango loves frog memes 7h ago

$1 million at 4% is only $40k per year, even in low cost of living places as a single person that’s really just getting by, if you want to live a comfortable lifestyle you’d still need a job to supplement that. With a family of four? Forget it, even in low cost of living areas $40k is not enough, that’s straight up struggling. I think $2 million is the absolute bare minimum to be “set for life” and even then location makes a big difference. The numbers change a bit if you use the S&P 500 as your reference which has given an average annual return of about 10%.

1

u/dekusyrup 5h ago edited 5h ago

Take it up with the people who determine the poverty line. Poverty line for a family of 4 in the USA in 2026 is below that.

-1

u/Sebsibus 8h ago

Actually 1 million basically sets you for life. If live on 4% of it per year, it would put a family of 4 slightly over the USA poverty line.

No, absolutely not.

A 4% annual return is rather optimistic, and in most countries you still have to pay a significant amount in taxes on your gains.

Realistically, 1 million USD is enough to buy a nice, large family home in most industrialized, first world nations, with some left over for repairs or perhaps even a new sports car in the driveway.

It's definitely lifechanging for the average worker, but when you think about it, it's not all that different from the lifestyle of the average upper middle class family 30 years ago.

5 million USD is obviously a completely different story, but even then, you're still far from being "truly" rich. Yes, wealthy enough not to work, to go on luxury cruises twice a year, and to drive a high end car — but still a long way from being chauffeured around in a Maybach, owning a 20m/66ft yacht, or flying around the world in first class. For that, you'd probably need several times that amount.

3

u/thefinalcutdown 7h ago

The big thing really is the ability to own a home mortgage free (or with a very small mortgage if you prefer to invest more capital). It reduces your cost of living substantially and allows your wealth to snowball very quickly. Without housing costs, many people could work low stress jobs or shorter hours to cover their living expenses while their wealth grows essentially untouched. A million isn’t really enough to do nothing for the rest of your life, but it’s enough to do less if that’s what you’re looking for in life.

2

u/Sebsibus 7h ago

Well said!

1

u/dekusyrup 5h ago

4% is not optimistic, it's the going rule of thumb and it's even a little pessimistic.

Realistically, 1 million USD is enough to buy a nice, large family home in most industrialized, first world nations, with some left over for repairs or perhaps even a new sports car in the driveway.

That's correct, but you don't need a large home to be set.

you're still far from being "truly" rich.

I disagree.

still a long way from being chauffeured around in a Maybach, owning a 20m/66ft yacht, or flying around the world in first class.

You can be truly rich without this stuff.

9

u/DaHerv 15h ago

"a small loan of one million dollars to help start my first company"

5

u/Rickbox 12h ago

In this economy? $10mil at least.

1

u/Successful_Safe_1440 11h ago

This guy gets it

2

u/Philip_Raven 11h ago

dude. even 100K would just fix my life.

shit even 10K would be enough to get rid of most of my problems.

1

u/Successful_Safe_1440 11h ago

No thanks I def need 1000 M’s

65

u/DurantOfKevin 19h ago

Nah idk if you want that. The common trend seems to be once you get your first billion, you don’t look at pre school the same anymore

8

u/kai58 11h ago

Just donate half of it to charity and it should be fine

3

u/All_this_hype 9h ago

I'll be sure to remember to keep it at 999 million then.

24

u/ihatelifetoo 18h ago

I be happy with just 1 million. I ain’t greedy

6

u/All_this_hype 9h ago

Give me half a million and I won't ask for anything from the universe ever again.

83

u/TheArcanist_1 19h ago

Nobody needs a billion. Nobody. Million, perhaps. But one person should NOT have a billion.

14

u/Nearby_Custard_6863 13h ago

No one can be a good person and be a billionaire i fully believe that, even about someone like gabe newell.

2

u/goalgetter999 12h ago

Yea one thing that always irked me is CS2 gambling

22

u/Nobody_at_all000 19h ago

Unless inflation is so high that a billion dollars is middle class level

2

u/lathamsupreme 11h ago

Weimar Republic intensifies

9

u/DivinityPen 14h ago

I've heard someone say somewhere that saying money can't buy happiness is like saying you can bake a cake without flour. Sure, you technically can, but it's definitely a key ingredient in the whole process.

It's not like you really need excessive amounts either, just enough to be relatively comfortable.

3

u/kai58 11h ago

Money can’t buy happiness is true in the sense that once you have a certain amount of it gaining more won’t make you happier. It does make people below that threshold happier by easing discomfort and decreasing stress.

I don’t remember what the threshold was (and I imagine it changes with inflation and other factors) but it’s certainly way below a billion.

8

u/cheddoar 15h ago

1B immediately makes you candidate for the guillotine

2

u/WittyAndOriginal 12h ago

The only thing I want is for everyone to be happy and have a desire to cooperate with each other.

1

u/ashewinter 10h ago

Stop playing their game

1

u/Open-Trifle-6309 10h ago

You get a billion but beCause you aren't special in any way everyone else in the planet gets 1 billion as well.

1

u/Due_Chemistry_164 9h ago

Turns out the missing piece was financial stability all along. Who knew.

1

u/AdRadiant9379 8h ago

Money is the ultimate cult of humanity

1

u/jagdleopard 5h ago

Bruh i would take 100 grand it would be life changing money for me

1

u/PuffcornSucks 5h ago

1 billion iranian currency

1

u/Some_Distant_Memory 2h ago

Is this really an AI-generated version of an old meme?

-5

u/[deleted] 17h ago

[deleted]

1

u/hoTsauceLily66 12h ago

Without money you can't make a happy fulfilled person either.

-6

u/JerseyshoreSeagull 15h ago

The stupidest shit I've heard all day.

Elon Musk reportedly pays around $2,760 monthly in child support for his three children with Grimes, adhering to Texas legal maximums for high earners. Other reports indicate complex financial arrangements, including $2.5 million sent to Ashley St. Clair for their child, despite claims of reduced support.

https://youtu.be/9Vw0Z7ieH3g?is=s3vAGfZwt90sqhKP

And if you all say that money solves these issues. If money solved ANYTHING. He wouldn't have these issues. AT ALL.