Huh? Tell that to the people who lost everything in the banking scandal economy. Also I hate to break it to you, but 1 mil wont cover you, and your kids and their healthcare over the next 30 years, not even close. You obviously havent spoken to a financial advisor recently.
lol
Sure it would. Don't put all your eggs in one basket. Before the crash I knew of the 100k limit. Never had that much, but I'd make sure I was covered.
And 1 mill would if you spend it right.
200k for a house, never a dime in rent again in your life
Work for a living, even making 20k a year, what you have should last you.
Don't have to buy the Escalade
Don't have to eat at Ruth Chris's steak house
Not my fault if they spend like they'll always get that income. I'm just saying what the average person is doing.
I'm happy with my 2003 Chevy cavalier I bought for 2800.
College education? Well if you don't make alot, financial aid is an option.
If they want to go to ASU, even with the price increases, it's doable. They don't have to live in a dorm, they can live at home or pay for their own rent.
Not saying you have to do things like that, but if you have to, you can.
Healthcare? Well we could get into that one, but it would cross into P and R.
If we had universal hc, it wouldn't matter how much you made
With 1 percent interest, 1 million dollars will accrue 10k a year in interest. That'll pay for all your food right there even if you aren't stretching it, but not also not splurging.
I also said, that the person with a million dollars, would make 50-100k a year, for the rest of their life whatever the value of the dollar is. If the dollar is worth half as much, and we're all getting paid doubld for the same work, 100-200k a year, or if deflation hits, and it goes down to 25-50k, whatever.
But then again living off a million dollars, and working for minimum wage the rest of your life is doable. It is. I guarantee it. You can't live like a millionaire, but then again 99 percent of us don't. We get by just fine with less and most making 30-70k a year.
I will never need a financial advisor. I can do my own leg work. Got A's in two accounting classes. I don't believe in all the hype people tell me, I think for myself. I was clipping coupons before age 10, but then again I was adding and subtracting at 18 months, and use to also ponder the 100k FDIC insurance in the 1980's, when I was born in 1978, so maybe it's just me.
But I also have to think the average person is capable of living off cheap food, cheap rent, cheap cars, cheap vacations, cheap everything, except when you splurge or on a few select items.
I live it. My family was never rich, we didn't have money sucked from us through credit cards, we didn't pay rent because we owned our house. It was great for when my dad couldn't find work for three years before finally retiring and taking social security at 62 even though he's in Who's Who Worldwide. That said, we spent money where it counted. So I and we as a family had some nice things even if we couldn't afford everything we wanted, we bought what counts. Even to the point where in many ways I had some of the trendiest clothes and newest video game systems.
Don't believe it nowagimp, and with the name maybe you have very costly medical problems???? So there is always an outlier in the statistics pool. But unless there is something major, then it would be enough.
What I know is, you give me that much money, and I can make it work. If I can, everyone else can.
Besides this is Amare, who has well more than a million and eats at McDonalds, and tips his bartender/hostesses like crap. I'm sure he'll be fine.