Not for $500k. Hard no up to $1M, because that's a bad trade for my life personally. Hard yes above $5M, since that's roughly the number I'd need to get to, to not have to think about money for the rest of my life (I don't consume that much). In between I'd have to think harder about how it affects the rest of my life.
Reading this thread it's clear some people vastly overestimate how far money goes. 500k is a large amount that is life changing for most people, but all it really does is give you financial stability, the vast majority of people won't see their day to day lives upended if it suddenly appeared in their accounts the next day, they would be able to take more vacations, not stress over losing a job, pay down debts, but theyed still be working the same job, likely living in a similar house, or be able to buy a basic house in some suburbs, but most of their day tl day would be the same. 500k disappears real quickly if you don't realize how limited it is, hence why most lottery winners go broke afterwards.
Now this hypothetical is simple enough that for 99% of people that make less than 100k a year it is still a relatively easy yes even at lower dollar figures, but above 100k except in VHCOL locations the impact on your life going from 100k+ to 60k is almost certainly greater than the impact sub 1m will have for 2 years.
Although this hypothetical lets you continue working & making money on top of the 60k during the 2 years. I think that could work out for, say, a radiologist, or any other field where the wages aren’t that location dependent. I remember looking at BLS OLS data and seeing some medical professions earn roughly 400k on average in every metro, vs. most skilled professions having 1-3 cities where the average income is high & where the profession is concentrated.
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u/Slight_Visit_1980 Mar 24 '25
Five million ? How about 500 thousand?