What do you believe to be a large amount of cash?

Discussion in 'Economics' started by eagle488, Oct 10, 2006.

  1. I view anything over $1 million dollars to be a large amount of cash.

    Under a million is still nice, but its not enough where I would feel truly comfortable.

    A million dollars invested wisely enough can be turned into multi-millions in a 7 year time frame. Even just socking it away in the Vanguard Wellington Fund and you would nearly double your cash to 2 million.

    On the other hand 300,000 just turns into 600,000 in that same mutual fund. It could be turned probably into over a million with aggressive enough investing. 600,000 is still a nice amount of cash, but its not a million.
  2. anywhere between 3-7 mill. 1 mill def not enough these days.
  3. 8 Figures
  4. S2007S


    $1,000,000 is a nice chunk but I think if you live a simple life you can easily retire on $2-3 million.

    would say $2-$4 million
  5. ror, my anutie has around 1mln in savin'; with costs of goods and life in general nowadays it ain't nuttin'.
  6. Lot of factors here like your age, location, lifestyle.

    1 mil paying 5 % risk free and after taxes would be fine for some, but for someone in NYC it would not even pay the mortgage.
  7. Pekelo


    What's the problem? You just have to wait 2 more years to reach your multi million goal. Patience....
  8. ElCubano


    430k cash in the closet....from uncle Orli...doing a 25 year stint in Pennsylvania somewhere...i almost shit me pants..:D
  9. I look at things in 7 year cycles. A 10 percent gain each year for 7 years will double any given amount of cash (when taxes are not factored into the equation).
  10. I think anything like 10 million dollars of Cash is a lot. I am not talking about savings, 10 million is fine where I live. You can pretty much buy a decent house for about 2 million USD and chill on Robson Street in Vancouver for about 1500 a day.
    #10     Oct 10, 2006