What lifestyle would live someone who is guaranteed to get $1.2M/yr.?

Discussion in 'Professional Trading' started by crgarcia, Mar 29, 2010.

  1. I know the lifestyle of people who EARN about $1M from their job,

    How it differs from someone who is GUARANTEED to get about $1.2M/yr.?
    I mean someone may be CEO today, and fired tomorrow, so he must save (should)...

    But for someone married with young children who is guaranteed to get $1.2M from Bond interests and dividends (not from trading profits, which may vary)

    He may spend his entire income (from a multi-million dollar investment trust because of family disputes), and he is always guaranteed to get money the next time bonds pay interests, or stocks pay dividends.

    The only way he couldn't get money would be if all his (top-quality) bonds default, and all his bluchip stocks stop paying dividends; which is unlikely, although he can see his income vary somewhat, specially on dividends, and when rolling the bonds after maturity date.

    What lifestyle would he likely live without getting into debt?
    Should he rent, or buy a house?
    (from his income, and NEVER from the trust funds, which can't be withdrawn)

    How much of his income he should spend in renting / invest in housing?
  2. Me... I would live in a hotel. That is freedom. Change floors, rooms if I so desire or move down the block to another hotel in a year or so.

    Granted, the roi doesn't always have to be more money.
  3. Who gives a shit?...He may be dead tomorrow...you and your gay ar... can join him...

    This thread should NOT be responded to....

  4. NoDoji


    Yes! We're on the same page! I have an acquaintance who, with his wife, spent years and years planning and building a multi-million dollar custom home. When I saw the completed home, I thought to myself, "Wow, it looks kind of institutional, like a resort. When I have this kind of money, I'm just gonna use it to travel from resort to resort to resort, all over the world!"
  5. Cotton


    And yet you did...
  6. Why rent or buy? I would build my dream home.
  7. TraDaToR


    If he is relying solely on bond interests and dividends, you should not take him as an example because he doesn't use his "social skills" to make business in the "real world", and he is totally "delusional "on his ability to prosper...LOL
  8. A fun read. Growing up, the kid never knew what happened to the garbage, room service just took the stuff away.

  9. That actually sucks as lifestyle unless you love living "japanese" (i.e. without a lot of stuff).

    I happen to have been living in an appartment-hotel for 8 months straight (5 stars on top), and it gets tired. I also happen to travel a lot - spending a month here a month there for custoemrs for some years (moving into trading). It sucks.

    You just don't feel at home. You can not decorate as you like. You can not accumulate a lot of stuff (no storage space etc.).

    For the rich, there are appartmenet buildings with hotel service - those are nice (because it still is YOUR appartement - so you get one you like, decorate it as you like etc.).

    But living in a hotel for years - sounds a lot like hell to me.
  10. Just ask Howard Huge.
    #10     Mar 30, 2010