• Moderators, please send me a PM if you are unable to access mod permissions. Thanks, Habsy.

Around the League 2019-2024 Edition

it's crazy.....you could blow $1,000,000 this summer on stupid shit like a ferrari, staying at a bunch of 5 star hotel resorts, 3 star Michelin restos 3x a day...and wake up hungover in the fall crying "what have I done"...and then remember you have another 999M in the bank...oh wait, it's climbed back to a billion because you had it in a low interest savings account
 
MindzEye said:
To kind of put it in perspective for us financial normies.

I could literally disappear for the rest of my life with 1 million dollars and live in extreme comfort for the rest of my life. Not wealth obviously, but I would live in a desirable home, in a desirable location with more than sufficient spending money to never work another day in my life. A million is about the level at which that the financial velocity of your net worth starts to compound beyond the level of a comfortable but simple/normal life to outspend it's growth.

That lifestyle above that you mention is doable on a net worth of only 2-3x that. A single billion is one fucking thousand millions. Or 300-400 of the lifestyles you mention above.
Click to expand...
Yes but this only works with the type of lifestyle you’ve always mentioned you want, which is to move to some overseas beachy locale where the currency exchange boosts you to mini oligarch if you have $100 USD to your name. If you want to live in a big city, and not work, $1M isn’t taking you far and won’t last you too long.
 
CH1 said:
it's crazy.....you could blow $1,000,000 this summer on stupid shit like a ferrari, staying at a bunch of 5 star hotel resorts, 3 star Michelin restos 3x a day...and wake up hungover in the fall crying "what have I done"...and then remember you have another 999M in the bank...oh wait, it's climbed back to a billion because you had it in a low interest savings account
Click to expand...
Yes, now $1B, that holds some potential.
 
LeafOfFaith said:
Yes but this only works with the type of lifestyle you’ve always mentioned you want, which is to move to some overseas beachy locale where the currency exchange boosts you to mini oligarch if you have $100 USD to your name. If you want to live in a big city, and not work, $1M isn’t taking you far and won’t last you too long.
Click to expand...

Nah, it's the inverse. It only doesn't work if you want to live in a legit world city. Doesn't have to be a currency exchange haven.

It's relatively easy to put together a portfolio that hits 6-7% div yield. So 60-70K minus capital gains taxes (in Canada you pay income taxes on 50% of capital gains, so in this scenario, income taxes on 30-35K a year...so basically, not a whole lot...3-4 grand maybe). Your after tax income is more than enough to qualify for a mortgage on a decent condo (obviously not in the GTA or Vancouver, but anywhere else in the country would do. 350 gets you into a good 2/2 in Calgary, 400 in Montreal..that's about 1800-2K a month in mortgage payment). Throw in a decent vehicle with insurance for a grand (or heaven forbid live somewhere walkable and use transit and save this money), condo fees (400) and other rando utilities (internet, netflix, prime, etc) plus groceries for 2 for another grand or so and you're still in at about 4400 on a monthly div income of roughly 5000 a month. 3400 if you skip the car (throw in a transit pass and the random uber and call it 3700 if you want).

Change this out for USD and play this game in a lot of nice spots in the US as well. Miami, Tampa,Virginia Beach, all sorts of beach towns in the Carolinas, Galveston, Aspen if the mountains are your thing, etc, etc.

Additionally, div stocks see their value increase at similar rates to "growth" stocks so your 1 million dollar portfolio and 60-70K div is also growing over time with the stock market anyway. That millie today is 1.2-1.3 millie in 3-5 years and the additional div income that comes with it.

The only lifestyle this isn't compatible with is living in a super premium urban location and/or feeling the need to chase a luxury lifestyle.

Doing it in a currency exchange haven is the same as above, just on super easy mode.
 
MindzEye said:
Nah, it's the inverse. It only doesn't work if you want to live in a legit world city. Doesn't have to be a currency exchange haven.

It's relatively easy to put together a portfolio that hits 6-7% div yield. So 60-70K minus capital gains taxes (in Canada you pay income taxes on 50% of capital gains, so in this scenario, income taxes on 30-35K a year...so basically, not a whole lot...3-4 grand maybe). Your after tax income is more than enough to qualify for a mortgage on a decent condo (obviously not in the GTA or Vancouver, but anywhere else in the country would do. 350 gets you into a good 2/2 in Calgary, 400 in Montreal..that's about 1800-2K a month in mortgage payment). Throw in a decent vehicle with insurance for a grand (or heaven forbid live somewhere walkable and use transit and save this money), condo fees (400) and other rando utilities (internet, netflix, prime, etc) plus groceries for 2 for another grand or so and you're still in at about 4400 on a monthly div income of roughly 5000 a month. 3400 if you skip the car (throw in a transit pass and the random uber and call it 3700 if you want).

Change this out for USD and play this game in a lot of nice spots in the US as well. Miami, Tampa,Virginia Beach, all sorts of beach towns in the Carolinas, Galveston, Aspen if the mountains are your thing, etc, etc.

Additionally, div stocks see their value increase at similar rates to "growth" stocks so your 1 million dollar portfolio and 60-70K div is also growing over time with the stock market anyway. That millie today is 1.2-1.3 millie in 3-5 years and the additional div income that comes with it.

The only lifestyle this isn't compatible with is living in a super premium urban location and/or feeling the need to chase a luxury lifestyle.

Doing it in a currency exchange haven is the same as above, just on super easy mode.
Click to expand...
A moustachian approach to finances. Fully approve.
 
Florida is wreckless....just throwing themselves around trying to injure people.

This is what I'm noticing about the NHL playoffs...it's not about talent ...it's about getting away with stuff under the guise of toughness.

Tkatchuk was trying to take Hill out there. And watching Maurice's smug face laughing it up ...gross.

I also hate the blow job Maurice gets for swearing and laughing at his own jokes during the press conference
 
Oh ya absolutely. Throw out the fact they beat #1,2 & 4 and are too amped up because you know, biased reasons.
 
You mean, soon to be Cup winner Adin Hill, with meh regular season stats over 100 games and a cute little 10 start playoff surge?

Sounds expensive and risky. No thanks.
 
You must log in or register to reply here.
Back
Top