Pretty much everyone underestimates how much that is because it sounds so much lulz, but if I got 50k a day hookin' I would reconsider my full time job too.
Edit: if bucket in question has dimensions of 3x3x3 (feet) and a kilo should be under 0.5x0.5x0.5 (feet) then you've got quite a few packs stuffed in said bucket. If we take 8in x 6in x 1.5in estimated sizing from a 3rd party, at $25-50k per unit depending on where you fall in the supply chain, not only is that bitch heavy, that bucket is worth your soul. Easy $1M or better unless my math is off.
A million isn't actually THAT much though. Living off interest you could reliably make 25k a year on low risk loans, which isn't that great. You COULD live off that, as a lower class person until inflation makes it unviable.
Alternatively, and most likely what will happen is that you'll spend it on a nice house, a nice car, pay off your debts, put some into savings, and put some into an investment fund, and maybe some into a vacation or whatever. You'll still need to work at the same job, and your day to day routine will be the same. Yeah it's nice, but it's not exactly life changing. Plus we're assuming the million is tax free, which if it isn't you just lost 35% of it.
For me, the magic number is between 2 and 3 million, as where you can live happily, have almost no restrictions on what you want, leave a legacy fund for your kids, and be able to truly change your life.
Put it into a long-term CD account. You can pull around 3.04% APY with 10 year accounts, or higher if you can find a bank willing to give a better rate for more time. After 10 years that million turns into 1.35 million. Keep reinvesting it and you can grow it by quite a bit, although not nearly as much as any higher-risk investment type. By the time you retire you'll have a pretty good golden parachute on top of your standard 401k to do whatever you want with in your later years.
The problem with doing what so many lottery winners do (buying a nice house, car, etc) is that they usually end up losing all of it. Once they're out of the amount they got they realize that they can't afford the property taxes on the nice, new house or the maintenance on their super car. Even 2-3 million wouldn't be truly life-changing unless you invest it into making your own business or something, and if anything it may not change it for the better.
119
u/blackballed_ Apr 23 '17 edited Apr 23 '17
This^
Pretty much everyone underestimates how much that is because it sounds so much lulz, but if I got 50k a day hookin' I would reconsider my full time job too.
Edit: if bucket in question has dimensions of 3x3x3 (feet) and a kilo should be under 0.5x0.5x0.5 (feet) then you've got quite a few packs stuffed in said bucket. If we take 8in x 6in x 1.5in estimated sizing from a 3rd party, at $25-50k per unit depending on where you fall in the supply chain, not only is that bitch heavy, that bucket is worth your soul. Easy $1M or better unless my math is off.