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Could you live off of One Million Dollars for the rest of your life?

Jason Hoeflich 2012/10/07 06:57:46
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Many people who win the lottery or make big sports contracts end up going broke, blowing through millions and in some cases hundreds of millions of dollars! If you only had a million dollars for the rest your life could you make it work?

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You may do whatever you like with it: invest it, save it, blow it at a casino, whatever you like. Could you make it last and provide you with your wants and needs for the rest of your life?
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Top Opinion

  • Dave0626 2012/10/07 07:05:57
    Yes, Gimmie that money!!!!!
    Dave0626
    +5
    I'm 60 yrs old ...figure I got another 20 left in me...give or take.
    ...So a million bucks will do me just fine.
    Drop me an email, telling me how you plan to send it...Thanks in advance, Jason!

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Opinions

  • Deric Smith 2014/05/04 17:21:48
    Yes, Gimmie that money!!!!!
    Deric Smith
    For the less Fortunate 1M$ would go a LOONNG way. I would thrive off 1 million dollars. I dont understand how athletes, or any one else who once possessed millions of dollars… GO BROKE. Stocks, and bonds, realestate, investing, telemarketing, internet marketing, time shares etc… there are "a million" and one ways to make your fortune 10 times larger than what it already is, and if I get the opportunity , I'd be rich forever… not only me, but generations to come as well.
  • jean.crenshaw.56 2013/07/24 19:13:10
    Yes, Gimmie that money!!!!!
    jean.crenshaw.56
    Yes I could & give some to help someone else.
  • benitabirnmann 2013/04/03 19:19:11
    Yes, Gimmie that money!!!!!
    benitabirnmann
    Yes, yes, an emphatical capital word YES! So gimme the Money. It would go to very good use plus I know the value of a dollar, every lit bit adds up...
  • Chrissi 2013/04/02 21:29:40
    Yes, Gimmie that money!!!!!
    Chrissi
    It would have to be carefully allotted, buy one can do it!!
  • Randall Francis 2012/12/14 19:06:09
    Yes, Gimmie that money!!!!!
    Randall Francis
    +1
    Definitely. I bought a 7-Plex apartment for $440,000 last year, which produces $35,000/year income, much of which is off-set by depreciation of the property. I also don't manage them myself. So I could buy two of these and still have $150,000 left over for a bond portfolio to produce another $7-8k/year (assuming this is an after-tax million!) You'll never get close to this return parking it in a bank account or any other income-producing conservative investment.
  • none 2012/11/24 23:15:07
    Yes, Gimmie that money!!!!!
    none
    Even at a modest 5% return you could make 50K a year and that's enough if you're careful, that plus SS and if you have another retirement plan too you'd be on easy street.
  • Andy Fletcher 2012/11/24 16:29:03
    Yes, Gimmie that money!!!!!
    Andy Fletcher
    Very easily and very well.
  • Relay 2012/11/24 16:23:29
    No, it's just not possible today
    Relay
    probably not, id still have to work. but can i have the money anyways?
  • Reggie☮ 2012/11/24 15:23:00
    No, it's just not possible today
    Reggie☮
    After taxes it's approximate six hundred thousand and in this economy it's not really a lot.
  • Dagon 2012/11/24 12:46:12
  • The Birdman ~ PWCM~JLA 2012/11/24 12:14:06
    Yes, Gimmie that money!!!!!
    The Birdman ~ PWCM~JLA
    The people that have gone broke were idiots! There are plenty of examples of folks that did it right and are ok today.
  • mrdog 2012/11/24 12:11:22
    Yes, Gimmie that money!!!!!
    mrdog
    No problem at alll...bark
  • jc 2012/11/24 12:10:42
    Yes, Gimmie that money!!!!!
    jc
    I'd carefully invest most of it and bank around 100 grand to play with.Then I would quietly still continue working.
  • Dweezle 2012/11/24 11:48:44
    Yes, Gimmie that money!!!!!
    Dweezle
    +1
    I doubt I have that long to go.
  • Marcus Clark 2012/11/24 06:25:25
    Yes, Gimmie that money!!!!!
    Marcus Clark
    Easily
  • Dickens 2012/11/14 19:14:44
    Yes, Gimmie that money!!!!!
    Dickens
    +1
    ..I could live off the interest from a million even at current passbook savings rates..I'm very frugal..
  • Navin Johnson (The Jerk) 2012/11/03 21:48:36
    Yes, Gimmie that money!!!!!
    Navin Johnson (The Jerk)
    i don't see how someone couldn't make a million last. i've know of people that blew through ten of thousands in no time though.
  • Bethany 2012/10/31 17:11:37
    Yes, Gimmie that money!!!!!
    Bethany
    Yes because I think I could parlay 1M into several more millions!
  • John Walker II 2012/10/12 22:47:22
    Yes, Gimmie that money!!!!!
    John Walker II
    +1
    Lesee... 50k for current debts, 500k for the taxes on it, and the rest into investments for an additional kicker into my monthly check... should work. Doesn't mean I won't stop working but it will certainly make life easier.
  • CatX3 2012/10/11 15:27:15
    No, it's just not possible today
    CatX3
    I would just spend it all.
  • Sing_it_Out 2012/10/09 08:26:00
    Yes, Gimmie that money!!!!!
    Sing_it_Out
    I would put it in a savings account and draw interest. I would still need to work for a bit, because I wouldn't be spending from it right off the bat. I'm a minimalist, so I could easily live comfortably off of the interest.
  • Mystify 2012/10/08 17:52:03
    Yes, Gimmie that money!!!!!
    Mystify
    I spend within my means.
  • MW121 2012/10/08 17:16:30
    No, it's just not possible today
    MW121
    It sounds like a lot, but it's not much money after taxes.. Interest rate isn't much.. I couldn't live off of it..
  • Milady 2012/10/08 09:11:02
    No, it's just not possible today
    Milady
    +1
    plus it depends how old you are already. By the time you buy a house you could have spent the whole lot. I suppose a modest little home and a modest little car and some decent investments might last a few years, but I don't think it would last for the rest of one's life...
  • timothy.hill.14 2012/10/08 06:12:59
    Yes, Gimmie that money!!!!!
    timothy.hill.14
    I'd definitely move out of the US (which is probably not a half bad idea anyway) to the country with the best exchange rate. get some little place and be a beach bum local for the rest of my life.
  • Lawnmowerman~PWCM~JLA 2012/10/08 04:09:17
    Yes, Gimmie that money!!!!!
    Lawnmowerman~PWCM~JLA
    At an average interest rate of just 4%, a million would generate about $41,000 a year.
    My home is paid for and I have no wife or kids. I could do pretty well.
  • ZB 2012/10/08 01:29:22 (edited)
    Yes, Gimmie that money!!!!!
    ZB
    Easily. 600,000 would go into several savings accounts. The interest would be automatically put into my checking account each month. I would basically live off of the interest. The other 400,000 would be used on debts, bills, and other "stuff".
  • Justagirl 2012/10/08 00:31:48
    Yes, Gimmie that money!!!!!
    Justagirl
    Easily, I am a minimalist, but I wouldn't quit my day job.
  • Carlos benoit 2012/10/07 22:54:23
    Yes, Gimmie that money!!!!!
    Carlos benoit
    "Sure"!
  • Vision of Verve 2012/10/07 18:45:19
  • ALofRI 2012/10/07 18:40:32
    Yes, Gimmie that money!!!!!
    ALofRI
    According to the SS people, I did so far, so (considering my age), yes.
  • marty 2012/10/07 18:31:34
    Yes, Gimmie that money!!!!!
    marty
    Yes, I could invest it and live comfortably. Maybe not in a mansion or host public festivities every night, but still very much comfortable.
  • Sgt Major B 2012/10/07 17:37:17
    Yes, Gimmie that money!!!!!
    Sgt Major B
    +1
    Not only could I live on it for the rest of my life, I could increase it quite easily.
  • jackolantyrn356 2012/10/07 17:01:40
    No, it's just not possible today
    jackolantyrn356
    there is always a need for bigger and better. You are suggesting an equal to Marxism
  • firebird 2012/10/07 16:30:13
    Yes, Gimmie that money!!!!!
    firebird
    +1
    Absolutely... yes. I was raised " country" and I know how to live frugal.....
  • Zammo 2012/10/07 14:50:34 (edited)
    Yes, Gimmie that money!!!!!
    Zammo
    The key is to invest most of it in diverse ways. Also, think of how to improve your present lifestyle instead of diving head first into a new one. And go to professionals for help - not Uncle Joe or cousin Billy Bob.
  • bob h. 2012/10/07 14:44:33
    Yes, Gimmie that money!!!!!
    bob h.
    Sure, I'm old.
  • **StarzAbove** 2012/10/07 13:43:32
    Yes, Gimmie that money!!!!!
    **StarzAbove**
    Yes I could and very well.
  • Treasure ♥ijm♥ 2012/10/07 13:16:34
    Yes, Gimmie that money!!!!!
    Treasure ♥ijm♥
    I'm good at budgeting my money so yes I could easily! :)
  • ☆thehappyconservative☆ 2012/10/07 12:56:26
    Yes, Gimmie that money!!!!!
    ☆thehappyconservative☆
    I would invest in a franchise... like Burger King! since my town does not have one, but has 2 mckyds 2 whataburgers 2 dairy queens 2 jack in the boxs and 2 sonics... what's up with that!

    Gimme THE KING!

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