Hillarious insight on having $5 Million

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capgain22
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Hillarious insight on having $5 Million

Post by capgain22 » Tue Oct 08, 2019 11:33 am

On a recent episode of "Succession" regarding inheriting $5 million.

"Five's a nightmare......
Can't retire.....not worth it to work.
Five will drive you un poco loco, my fine feathered friend.
Poorest rich person in America
The world's tallest dwarf......the weakest strong man at the circus."

I laughed for about 10 minutes on this one.....just the way they were saying it.
Sad but true?

Frank Grimes
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Re: Hillarious insight on having $5 Million

Post by Frank Grimes » Tue Oct 08, 2019 11:37 am

Can't retire with $5 million? I feel like I could make that work

fareastwarriors
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Re: Hillarious insight on having $5 Million

Post by fareastwarriors » Tue Oct 08, 2019 11:39 am

What is Your question?

coffeeblack
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Re: Hillarious insight on having $5 Million

Post by coffeeblack » Tue Oct 08, 2019 11:41 am

capgain22 wrote:
Tue Oct 08, 2019 11:33 am
On a recent episode of "Succession" regarding inheriting $5 million.

"Five's a nightmare......
Can't retire.....not worth it to work.
Five will drive you un poco loco, my fine feathered friend.
Poorest rich person in America
The world's tallest dwarf......the weakest strong man at the circus."

I laughed for about 10 minutes on this one.....just the way they were saying it.
Sad but true?
:D lol

StandingRock
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Joined: Sat Feb 02, 2019 6:54 pm

Re: Hillarious insight on having $5 Million

Post by StandingRock » Tue Oct 08, 2019 11:43 am

Frank Grimes wrote:
Tue Oct 08, 2019 11:37 am
Can't retire with $5 million? I feel like I could make that work
I guess if someone is spending millions per year then the answer is No.

TropikThunder
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Re: Hillarious insight on having $5 Million

Post by TropikThunder » Tue Oct 08, 2019 11:44 am

fareastwarriors wrote:
Tue Oct 08, 2019 11:39 am
What is Your question?
It’s right there in OP’s post:
capgain22 wrote:
Tue Oct 08, 2019 11:33 am
Sad but true?

conservativeinvestor
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Joined: Tue Feb 05, 2019 12:14 pm

Re: Hillarious insight on having $5 Million

Post by conservativeinvestor » Tue Oct 08, 2019 11:45 am

If I inherited $5,000,000 and put it in a 0% savings account I could cover my current expenses for 111 years. I wouldn't even give two weeks notice.

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Kenkat
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Re: Hillarious insight on having $5 Million

Post by Kenkat » Tue Oct 08, 2019 11:53 am

I could retire twice, maybe three times on that amount. But I’m more George Bailey rich than “rich” rich.

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mhc
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Re: Hillarious insight on having $5 Million

Post by mhc » Tue Oct 08, 2019 12:00 pm

sad that some think that way.
true that some think that way.
not true for me. i would be happy to retire with that much.

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bligh
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Re: Hillarious insight on having $5 Million

Post by bligh » Tue Oct 08, 2019 12:02 pm

capgain22 wrote:
Tue Oct 08, 2019 11:33 am
On a recent episode of "Succession" regarding inheriting $5 million.

"Five's a nightmare......
Can't retire.....not worth it to work.
Five will drive you un poco loco, my fine feathered friend.
Poorest rich person in America
The world's tallest dwarf......the weakest strong man at the circus."

I laughed for about 10 minutes on this one.....just the way they were saying it.
Sad but true?
I thought it was funny. It's a joke, not to be taken literally. :D

Reminds me of the Silicon Valley joke about being in the three comma club and how pissed off the character was that he was no longer a member of that club.

https://www.youtube.com/watch?v=s9Bg4UU76so (NSFW due to cussing)

But to be pedantic (and to ruin a joke):

You can retire VERY comfortably on $5 million. It equals about ~100-150K per year, inflation adjusted, at a very conservative perpetual withdrawal rate.

Also you may decide to work, but you have incredible flexibility on how much or where you work or who you choose to work for. So work isn't as much of a burden or a stressor in your life.

It doesn't make you the poorest rich person in America. If you had HALF that money you'd still be considered rich by most people. Though age does play into this.

But yes.. if someone wants to live the kind of high flying lavish lifestyle that we see rich people have on TV.. retiring on $5 mil isn't going to cut it.

alfaspider
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Re: Hillarious insight on having $5 Million

Post by alfaspider » Tue Oct 08, 2019 12:06 pm

bligh wrote:
Tue Oct 08, 2019 12:02 pm
capgain22 wrote:
Tue Oct 08, 2019 11:33 am
On a recent episode of "Succession" regarding inheriting $5 million.

"Five's a nightmare......
Can't retire.....not worth it to work.
Five will drive you un poco loco, my fine feathered friend.
Poorest rich person in America
The world's tallest dwarf......the weakest strong man at the circus."

I laughed for about 10 minutes on this one.....just the way they were saying it.
Sad but true?
I thought it was funny. It's a joke, not to be taken literally. :D

Reminds me of the Silicon Valley joke about being in the three comma club and how pissed off the character was that he was no longer a member of that club.

https://www.youtube.com/watch?v=s9Bg4UU76so

But to be pedantic (and to ruin a joke):

You can retire VERY comfortably on $5 million. It equals about ~100-150K per year, inflation adjusted, at a very conservative perpetual withdrawal rate.

Also you may decide to work, but you have incredible flexibility on how much or where you work or who you choose to work for. So work isn't as much of a burden or a stressor in your life.

It doesn't make you the poorest rich person in America. If you had HALF that money you'd still be considered rich by most people. Though age does play into this.

But yes.. if someone wants to live the kind of high flying lavish lifestyle that we see rich people have on TV.. retiring on $5 mil isn't going to cut it.
Heck, I think most of the general public would consider anyone with $1 million net worth rich. It's a lot more than most people will ever have to their name.

tlk59
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Re: Hillarious insight on having $5 Million

Post by tlk59 » Tue Oct 08, 2019 12:21 pm

I love Succession. It's a black comedy masquerading as a drama. So yeah, don't take bromides from the mouths of Roys to heart. :-)

PluckyDucky
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Re: Hillarious insight on having $5 Million

Post by PluckyDucky » Tue Oct 08, 2019 12:35 pm

StandingRock wrote:
Tue Oct 08, 2019 11:43 am
Frank Grimes wrote:
Tue Oct 08, 2019 11:37 am
Can't retire with $5 million? I feel like I could make that work
I guess if someone is spending millions per year then the answer is No.
Even with no growth/interest, 5 million is 25 years at 200k/yr...

How old is the person?

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Re: Hillarious insight on having $5 Million

Post by mighty72 » Tue Oct 08, 2019 12:37 pm

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Re: Hillarious insight on having $5 Million

Post by LadyGeek » Tue Oct 08, 2019 4:10 pm

Wiki To some, the glass is half full. To others, the glass is half empty. To an engineer, it's twice the size it needs to be.

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