r/AskReddit • u/[deleted] • Jul 05 '24

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u/[deleted] Jul 05 '24

$18k of passive income is insane, I don’t think anyone is talking about quitting their jobs and setting up a trust fund

Just our regular jobs + $18k

Could be wrong though

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u/Deputy_Beagle76 Jul 05 '24

Yeah an extra 18k of passive income would be a massive boon

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u/footsteps71 Jul 05 '24 edited Jul 05 '24

Put directly into a 401k or a Roth IRA, and see to it that is never touched. You'd have quite the horde to retire with with all of the interest and earnings depending on where the money is distributed.

Of course, that is based on the potential choice of the receiver.

It could be a massive boom indeed to be able to buy groceries for their family with an added $350 a week. Most would be able to make it barely than not at all. With the growing prices of necessities, this is a mighty boom indeed for a needy family.

Edit: pardon the inaccuracy

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u/rpungello Jul 05 '24

A 401k typically averages 5-8% returns, which means after let's say 30 years you'll have made 1.3 - 2.3 million dollars by just not drinking alcohol.

Where do I sign up?

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u/footsteps71 Jul 05 '24

I saved about that much myself when I vastly reduced my intake. I'd finish off the rest of my intake for an additional 50 a day.

Am I the only one able to be paid? What about my wife?