LifeFuel You Only Need $250k to Be Financially Free

[novarem]

28k divided by 2 is 14k a year.... if you get a roommate and pick the smaller room you can get that down to 10k a year, that's less than 1000 a month

Buddy i said shoebox apartment.

You said "economic chad".
You said you'd be living like "an aristocrat of the modern time".

In reality you'd living like a pajeet in the slums of mumbai packed together like sardines in a tiny fucking apartment with another random rentcel like you. And lets hope that the person your splitting rent with is actually a well adjusted person who cleans up after themselves.

250k is an insane amount anywhere on the planet. I have a disgusting amount of money, I identify as very wealthy, and I have a fraction of 250k.

Bud 250k with taxes and the insane cost of living is nothing. I know dudes who make that shit in a month. You are not an aristocrat. You're not even upper-middle class ffs especially not in Toronto fucking Canada where even a ramshackle shithole house in the hood runs for 1.5 mill.

 

[based_meme]

and under what rock can i find this "250k dollars"?

A rock known as "hard work"

 

[Intellectual]

What would you invest in to get 20k ... what a year?

S&P500, Berkshire Hathaway, Hydro One Ltd... etc

 

[AlexAnguish]

S&P500, Berkshire Hathaway, Hydro One Ltd... etc

I might be wrong but iirc those aren't dividend stocks, so don't know if that would really let you live off the income?

 

[Intellectual]

Buddy i said shoebox apartment.

You said "economic chad".
You said you'd be living like "an aristocrat of the modern time".

A modern Condo has shit that does make you an aristocrat or economic Chad. I have a laundry machine, a dryer, a microwave, a fridge that can store food better than the Palaces of Kings just 100 years ago. I have AC, a heater, a buzzer.

In reality you'd living like a pajeet in the slums of mumbai packed together like sardines in a tiny fucking apartment with another random rentcel like you. And lets hope that the person your splitting rent with is actually a well adjusted person who cleans up after themselves.

They're an old friend from college, we're best friends and do a bunch of shit together. We live better lives than the richest and most powerful people just 40 years ago.

Bud 250k with taxes

You don't pay tax on your net worth, you pay tax on INCOME. I earn between 45k a year and 70k a year... but if I had 250k in ASSETS I wouldn't be taxed on that since it's wealth I already has.

and the insane cost of living is nothing.

Cost of living is dirt cheap if you're not blowing money on drugs and the casino.

I know dudes who make that shit in a month. You are not an aristocrat. You're not even upper-middle class ffs especially not in Toronto

You're a fucking retard. If you're earning even more than 40k in 2023 you're more privileged than a Terra-Chad from the 1980s who came from the richest families on the planet. You don't know anyone who makes close to 250k in a month, let alone a year, LET ALONE EVEN HAS THAT TO THEIR NAME

fucking Canada where even a ramshackle shithole house in the hood runs for 1.5 mill.

I have no plans to buy a house. I plan to buy BERKSHIRE HATHAWAY

 

[Intellectual]

I might be wrong but iirc those aren't dividend stocks, so don't know if that would really let you live off the income?

You can borrow against them, hypothetically.

 

[AlexAnguish]

You can borrow against them, hypothetically.

Tell me what you know about that. I've heard of this but my question is.... you still gotta pay it back so what's the difference between that and selling? Taxes? I think it's you don't have to pay taxes if you take out a load and then pay the load back or something?

 

[AlexAnguish]

You don't pay tax on your net worth, you pay tax on INCOME. I earn between 45k a year and 70k a year... but if I had 250k in ASSETS I wouldn't be taxed on that since it's wealth I already has.

70k a year? Shit, you're on your way to getting 25k to half a mill one day. Long as you don't live in a city and spend like a retard it should be easy for you. It's gonna take me twice as long.

 

[Intellectual]

70k a year? Shit, you're on your way to getting 25k to half a mill one day. Long as you don't live in a city and spend like a retard it should be easy for you. It's gonna take me twice as long.

I live in the most expensive city but I'm good at saving money and budgeting.

Tell me what you know about that. I've heard of this but my question is.... you still gotta pay it back so what's the difference between that and selling? Taxes? I think it's you don't have to pay taxes if you take out a load and then pay the load back or something?

It's all taxes... technically you will have to pay tax on the capital gains when you sell to pay off the loan... but you never really have to do that.

Take America for example, America has been in debt for almost 200 years now, the debt keeps growing, but it's ok because America's ASSETS keep growing. Same with people like Bill Gates, they pay little tax because their debt keeps going up to compensate their assets.

 

[lifelongkhhv]

" O N L Y "

 

[RandomGuy]

I might be wrong but iirc those aren't dividend stocks, so don't know if that would really let you live off the income?

True

A single person needs 1.2 -1.7 million to stop working. Depends on inflation, cost-of-living and interest rate adjustments.