Re: 5 million dollars to change religion

[Diopolis]

5 million is 120 times the minimum for a reasonable standard of living for a single person where I live. Actually slightly more, but still.

Really? Is that true? Idk man, I just find that hard to imagine. At least amongst everyone I know personally (my friends are all single and unmarried, oldest one is 23) they generally spend between US$400-600,000 a year, adding up rent/mortgage payments, car, petroleum, utilities, clothing, restaurants, vacations, insurance, and what not, which is how I got to the figure of '10 years' when I added it up quickly in my head.

And of course if you're talking about parents with children (my own parents being my only reference point for this) the cost gets much much higher, like my mom especially always loves reminding me (in a joking tone obvi) how much it cost to raise my brother and I, the per annum cost exceeded like US$1-2 million easily.

How do they spend that much at that age? In my neck of the woods a single male needs about 40k a year assuming sticker price for everything and no roommates, and that he doesn't tolerate a bad part of town and needs a reasonable cushion.
Change any of that and it's less.

[Saiwania]

Outside of paying for necessities, I only spend about $20 a week. I live with my mom right now but once I move out again, besides paying for an apartment and vehicle insurance, I'm not going on spending sprees. 20 a week is enough for a couple beers and some weed, and I'm not interested in getting anything else. Being thrifty is an art, a trait lost on many Americans post baby boom but being rediscovered by millennials and zoomers.

Only a bit over $1,000 in spending money for "fun" each year- really? I'm a bit incredulous on that, surely you might be jesting.

I'd say anything below $20,000/year or less, and you're really struggling to survive. You need to make it to $40,000+/year to truly be doing okay, but $30,000/year is doable. When at $80,000+/year or more, you're officially financially secure in that chances are- a major setback isn't going to disrupt your finances if you're sensible about your expenses. Anything $100,000/year or more is what most people would call a rich income.

[Infected Mushroom]

Are you counting kids and college? Is that why the 5 million isn't enough?

Or is it that you're concerned that at a later age healthcare costs could take several millions off?

[Purgatio]

Really? Is that true? Idk man, I just find that hard to imagine. At least amongst everyone I know personally (my friends are all single and unmarried, oldest one is 23) they generally spend between US$400-600,000 a year, adding up rent/mortgage payments, car, petroleum, utilities, clothing, restaurants, vacations, insurance, and what not, which is how I got to the figure of '10 years' when I added it up quickly in my head.

And of course if you're talking about parents with children (my own parents being my only reference point for this) the cost gets much much higher, like my mom especially always loves reminding me (in a joking tone obvi) how much it cost to raise my brother and I, the per annum cost exceeded like US$1-2 million easily.

How do they spend that much at that age? In my neck of the woods a single male needs about 40k a year assuming sticker price for everything and no roommates, and that he doesn't tolerate a bad part of town and needs a reasonable cushion.
Change any of that and it's less.

I mean, I can't really itemise it in more detail than the list I gave, but the bulk of it really are the mortgage payments, utilities, restaurants, clothing, and vacations. I honestly can't imagine spending only US$40,000 per annum but I guess that's just me, and anyways I'm sure its possible if things are just much cheaper in your city or town.

[Diopolis]

Are you counting kids and college? Is that why the 5 million isn't enough?

Or is it that you're concerned that at a later age healthcare costs could take several millions off?

College education costs about 120,000 for a bachelors degree at a state school. Assuming two kids, that would still be eightysomething years worth of standard income.
If you're over twenty, then it's more than enough.

[Diopolis]

How do they spend that much at that age? In my neck of the woods a single male needs about 40k a year assuming sticker price for everything and no roommates, and that he doesn't tolerate a bad part of town and needs a reasonable cushion.
Change any of that and it's less.

I mean, I can't really itemise it in more detail than the list I gave, but the bulk of it really are the mortgage payments, utilities, restaurants, clothing, and vacations. I honestly can't imagine spending only US$40,000 per annum but I guess that's just me, and anyways I'm sure its possible if things are just much cheaper in your city or town.

I think there's a difference in expected lifestyle.

[Purgatio]

Are you counting kids and college? Is that why the 5 million isn't enough?

Or is it that you're concerned that at a later age healthcare costs could take several millions off?

Its not really the healthcare costs, because you'd presumably get health insurance so you can afford private healthcare. I was more thinking of stuff like housing and vacations. I mean, I'd want a nice place in Manhattan, like the Upper West Side or Upper East Side, and a lot of the apartments there cost like US$2-4 million depending on the acreage, so that's kinda half the money blown already. If you have like a vacation twice a year, one in summer, one in winter, each vacation costs like US$100,000-200,000 so if you double that, just with housing and vacation costs alone I think you'd blow through the US$5m fairly quickly?

Idk, these were kinda the quick mental calculations in my head when I read over the OP.

[Bear Stearns]

Merrill Lynch

[Purgatio]

I mean, I can't really itemise it in more detail than the list I gave, but the bulk of it really are the mortgage payments, utilities, restaurants, clothing, and vacations. I honestly can't imagine spending only US$40,000 per annum but I guess that's just me, and anyways I'm sure its possible if things are just much cheaper in your city or town.

I think there's a difference in expected lifestyle.

Mm yeah, probably.

[Saiwania]

College education costs about 120,000 for a bachelors degree at a state school. Assuming two kids, that would still be eightysomething years worth of standard income. If you're over twenty, then it's more than enough.

Have your children take out a student loan if they really think college will benefit them and won't just be an expensive time waster. It'd incentivize them to make damned sure to pick the right degree. Community College is only $20,000 or so. You shouldn't pay six figures unless you're trying to become a doctor, dentist, lawyer, or Wall Street broker/accountant. In which case, it might be worthwhile to go overseas to make any medical education even cheaper.

Also, don't get a mortgage if you don't have to. Buy a house outright if you can. Chances are, the land it sits on will only appreciate in value over time. Buying many houses and renting those places out, and you can do just as well as Sean Hannity is rumored to do these days.

[Diopolis]

College education costs about 120,000 for a bachelors degree at a state school. Assuming two kids, that would still be eightysomething years worth of standard income. If you're over twenty, then it's more than enough.

Have your children take out a student loan if they really think college will benefit them and won't just be an expensive time waster. It'd incentivize them to make damned sure to pick the right degree. Community College is only $20,000 or so. You shouldn't pay six figures unless you're trying to become a doctor, dentist, or lawyer. In which case, it might be worthwhile to go overseas to make any medical education even cheaper.

Also, don't get a mortgage if you don't have to. Buy a house outright if you can. Chances are, the land it sits on will only appreciate in value over time. Buying many houses and renting those places out, and you can do just as well as Sean Hannity is rumored to do.

I think it's reasonable to pay for an associate's degree at community college. In any case, my point was that even if you first account for the cost of college for children, then 5 million is still a lot of money.

[Diopolis]

Are you counting kids and college? Is that why the 5 million isn't enough?

Or is it that you're concerned that at a later age healthcare costs could take several millions off?

Its not really the healthcare costs, because you'd presumably get health insurance so you can afford private healthcare. I was more thinking of stuff like housing and vacations. I mean, I'd want a nice place in Manhattan, like the Upper West Side or Upper East Side, and a lot of the apartments there cost like US$2-4 million depending on the acreage, so that's kinda half the money blown already. If you have like a vacation twice a year, one in summer, one in winter, each vacation costs like US$100,000-200,000 so if you double that, just with housing and vacation costs alone I think you'd blow through the US$5m fairly quickly?

Idk, these were kinda the quick mental calculations in my head when I read over the OP.

I think there's a difference in expected lifestyle.

Mm yeah, probably.

Yeah, $100,000 vacations... not something I've ever known anyone to do. A few in the mid five figures range, but that's rich people doing a once in a lifetime trip.

[Saiwania]

I think it's reasonable to pay for an associate's degree at community college. In any case, my point was that even if you first account for the cost of college for children, then 5 million is still a lot of money.

It's not reasonable, in that I have an Associates degree myself, but never managed to break into any career because of it.

College clearly isn't necessarily the answer to getting prosperity as it once might've been. I'd rather any children I have only spend $4,000 or so, to pick up a skilled trade. Then to use the money they'd get from a skilled trade job to go to college later on if that's what they really want. Have to qualify for a lower paid job before qualifying for a higher paid one.

The point is so they wouldn't be screwed like I was, if college doesn't benefit them as expected. They'd have at least some monetizable skills to fall back on for income. You don't have to love a job literally speaking, so much as be able to do it for a time until you're ready to move on. A reliable automobile mechanic as one example, is said to never ever have any lack of work to be had, because people's vehicles are always breaking down or needing servicing/parts.

[Purgatio]

Its not really the healthcare costs, because you'd presumably get health insurance so you can afford private healthcare. I was more thinking of stuff like housing and vacations. I mean, I'd want a nice place in Manhattan, like the Upper West Side or Upper East Side, and a lot of the apartments there cost like US$2-4 million depending on the acreage, so that's kinda half the money blown already. If you have like a vacation twice a year, one in summer, one in winter, each vacation costs like US$100,000-200,000 so if you double that, just with housing and vacation costs alone I think you'd blow through the US$5m fairly quickly?

Idk, these were kinda the quick mental calculations in my head when I read over the OP.

Mm yeah, probably.

Yeah, $100,000 vacations... not something I've ever known anyone to do. A few in the mid five figures range, but that's rich people doing a once in a lifetime trip.

Really? I would think with the airfare and hotel prices and travel insurance you'd hit like half of that sum easily, the rest is just all the usual amenities?

[Diopolis]

Yeah, $100,000 vacations... not something I've ever known anyone to do. A few in the mid five figures range, but that's rich people doing a once in a lifetime trip.

Really? I would think with the airfare and hotel prices and travel insurance you'd hit like half of that sum easily, the rest is just all the usual amenities?

Really? Are we misplacing some zeros here?

[Celritannia]

I'll keep being an Athiest thank you

[Rojava Free State]

Really? Is that true? Idk man, I just find that hard to imagine. At least amongst everyone I know personally (my friends are all single and unmarried, oldest one is 23) they generally spend between US$400-600,000 a year, adding up rent/mortgage payments, car, petroleum, utilities, clothing, restaurants, vacations, insurance, and what not, which is how I got to the figure of '10 years' when I added it up quickly in my head.

And of course if you're talking about parents with children (my own parents being my only reference point for this) the cost gets much much higher, like my mom especially always loves reminding me (in a joking tone obvi) how much it cost to raise my brother and I, the per annum cost exceeded like US$1-2 million easily.

How do they spend that much at that age? In my neck of the woods a single male needs about 40k a year assuming sticker price for everything and no roommates, and that he doesn't tolerate a bad part of town and needs a reasonable cushion.
Change any of that and it's less.

Yeah I would probably starve to death in Singapore if the living wage is that high

[Rojava Free State]

Really? I would think with the airfare and hotel prices and travel insurance you'd hit like half of that sum easily, the rest is just all the usual amenities?

Really? Are we misplacing some zeros here?

I think they're making the same mistake the Greeks made when estimating how long ago atlantis existed

[US-SSR]

No way would I put my life's savings into the hands of someone with a vested interest in judging that I did not do enough to advance my "new religion." Silly question really.

[Albrenia]

No way would I put my life's savings into the hands of someone with a vested interest in judging that I did not do enough to advance my "new religion." Silly question really.

A fair point.

[Kowtowannia]

$5 million? Too small, IM.

[SuNorth Communist Liberation Front]

Are you counting kids and college? Is that why the 5 million isn't enough?

Or is it that you're concerned that at a later age healthcare costs could take several millions off?

College education costs about 120,000 for a bachelors degree at a state school. Assuming two kids, that would still be eightysomething years worth of standard income.
If you're over twenty, then it's more than enough.

well ，I think it depends on which country you are in first.In our country, the best public university costs less than $1000 a year.The government will bear all the basic expenses.Primary and secondary schools are basically free.When I was in high school, I paid less than $100 a year to the school, and every teacher of mine had at least a master's degree. Do you all have to pay for school by yourself?If I had $5 million, I would definitely use it to start my own software company right away.

[SuNorth Communist Liberation Front]

Why not? You just give me a million dollars, and I can mobilize people around me to build a new religion, and position the toaster as the incarnation of God. And tell everyone that machines have souls. Of course, in giving me a million I can even believe in demons.

[The Alma Mater]

How do they spend that much at that age? In my neck of the woods a single male needs about 40k a year assuming sticker price for everything and no roommates, and that he doesn't tolerate a bad part of town and needs a reasonable cushion.
Change any of that and it's less.

I mean, I can't really itemise it in more detail than the list I gave, but the bulk of it really are the mortgage payments, utilities, restaurants, clothing, and vacations. I honestly can't imagine spending only US$40,000 per annum but I guess that's just me, and anyways I'm sure its possible if things are just much cheaper in your city or town.

The overwhelming majority of people living in western nations do not even earn 40k net /annum and yet survive comfortably - so it is indeed possible.

[Saiwania]

Also, I didn't realise British Columbia had a reputation for being an expensive place to live, but good to know.

The joke among locals in British Columbia is that it stands for "Bring Cash." Broadly speaking, its considered to be Canada's most expensive province to live in. Vancouver is a world class city that attracts so many people, but because of that- it is going to cost someone to have the privilege of staying there. Fort St. John is a small city within British Columbia with around 20,000 people but again- super prosperous and expensive. Average household income there breaks $100,000+/year.