Quote:
Originally Posted by Shoe
$500k = ~$20,000 inflation adjusted to live off of. $1M invested earns you as much as the average/median job (maybe a tad low) for the rest of your life. Not bad for being able to sit on your ass all day. But then again, most people who would sit on their ass would just end up blowing it anyways.
If I was going to do that, I would spend my free time trying to work on something that would allow me to potentially make an absolute killing without any downside. For example, maybe you could put a lot of energy into developing a business idea, but not be willing to put up much of your own money on it. You'd have so much free time to think about it, develop it, and pitch it to others. Essentially just be willing to put in tons of time, but not any money. Basically, you'd have huge upside but very little downside since you're pretty much guaranteed to earn $40K a year regardless. They key though, is it'd have to be something you're actually interested in, otherwise what's the point as you might as well just sit on your ass.
The idea of moving to a 3rd world country is also good.