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Re: Net Worth $1.6m @ 51 I don't feel rich - explain that!
Old 10-26-2005, 02:09 PM   #41
 
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Re: Net Worth $1.6m @ 51 I don't feel rich - explain that!

Very good point about "If I worked a little more, I could make a lot of money."

I sometimes think "If I spent a few months doing a new release of my product, I could probably bring in $200,000 in upgrades..." I don't want the hassles of that (hard work, worrying about bugs, etc.), but by not doing it, it sometimes feels like I am giving up free money.

That is, you might feel guilty that you'd be giving up the chance to make a lot of money with just a little extra effort.
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Re: Net Worth $1.6m @ 51 I don't feel rich - explain that!
Old 10-26-2005, 02:14 PM   #42
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Re: Net Worth $1.6m @ 51 I don't feel rich - explain that!

Quote:
Originally Posted by brewer12345
See for yourself about payouts: http://www.immediateannuities.com/

I put in $1.6MM for a 50 year old male in my state asking for a single life annuity and got a quote for over $8k a month.

The downsides are:

- You are vulnerable to inflation
- When you croak, there is no pot of money for your heirs
- You are in trouble if the insurer goes bust, so choose carefully.
Thanks brewer for answering the question for me... and that is the site I used
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Re: Net Worth $1.6m @ 51 I don't feel rich - explain that!
Old 10-26-2005, 02:39 PM   #43
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Re: Net Worth $1.6m @ 51 I don't feel rich - explain that!

Quote:
Originally Posted by TromboneAl
Very good point about "If I worked a little more, I could make a lot of money."*

I sometimes think "If I spent a few months doing a new release of my product, I could probably bring in $200,000 in upgrades..."* *I don't want the hassles of that (hard work, worrying about bugs, etc.), but by not doing it, it sometimes feels like I am giving up free money.*

That is, you might feel guilty that you'd be giving up the chance to make a lot of money with just a little extra effort.
If there where an unlimited number of dollar bills spaced apart a few inches from each other on the ground in front of you and you could pick up as many as you wanted, chances are that there would come a point where you just could not bend over anymore and pick them up, even though that road of bills continued as far as your eyes could see.

At some point you just have to say enough is enough.
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Re: Net Worth $1.6m @ 51 I don't feel rich - explain that!
Old 10-26-2005, 02:47 PM   #44
 
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Re: Net Worth $1.6m @ 51 I don't feel rich - explain that!

Yes, and as you go along the bills get closer together.
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Re: Net Worth $1.6m @ 51 I don't feel rich - explain that!
Old 10-26-2005, 02:57 PM   #45
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Re: Net Worth $1.6m @ 51 I don't feel rich - explain that!

Quote:
Originally Posted by TromboneAl
Yes, and as you go along the bills get closer together.
But at some point you just cannot carry any more; your pockets are full, your arms are full and the desire to keep picking them up just fade away with the thoughts of having to carry all that weight and bulk.

Now if you had a vacuum cleaner......
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Re: Net Worth $1.6m @ 51 I don't feel rich - explain that!
Old 10-26-2005, 05:07 PM   #46
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Re: Net Worth $1.6m @ 51 I don't feel rich - explain that!

Quote:
Originally Posted by retire@40
If there where an unlimited number of dollar bills spaced apart a few inches from each other on the ground in front of you and you could pick up as many as you wanted, chances are that there would come a point where you just could not bend over anymore and pick them up, even though that road of bills continued as far as your eyes could see.

At some point you just have to say enough is enough.
Now if you are smart.. you pick up enough to go hire some 'day workers' and have them pick them up for you.... and you do not have to say enough is enough.. yea, you do have overhead now, but you still make a profit
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Re: Net Worth $1.6m @ 51 I don't feel rich - explain that!
Old 10-26-2005, 05:07 PM   #47
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Re: Net Worth $1.6m @ 51 I don't feel rich - explain that!

Quote:
Originally Posted by Texas Proud
Now if you are smart.. you pick up enough to go hire some 'day workers' and have them pick them up for you.... and you do not have to say enough is enough.. yea, you do have overhead now, but you still make a profit
You're guns are quicker than mine. I had this exact same idea!
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Re: Net Worth $1.6m @ 51 I don't feel rich - explain that!
Old 10-26-2005, 05:29 PM   #48
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Re: Net Worth $1.6m @ 51 I don't feel rich - explain that!

Quote:
Originally Posted by Texas Proud
Now if you are smart.. you pick up enough to go hire some 'day workers' and have them pick them up for you....* and you do not have to say enough is enough.. yea, you do have overhead now, but you still make a profit* *
You better use some of the money you picked up to pay for a large workers comp policy in case those "day workers" decide to take a spill and hurt their backs. And then what are you going to do when the insurance company won't renew your policy because of the claims?
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Re: Net Worth $1.6m @ 51 I don't feel rich - explain that!
Old 10-26-2005, 11:05 PM   #49
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Re: Net Worth $1.6m @ 51 I don't feel rich - explain that!

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Originally Posted by retire@40
You better use some of the money you picked up to pay for a large workers comp policy in case those "day workers" decide to take a spill and hurt their backs. And then what are you going to do when the insurance company won't renew your policy because of the claims?
Set up a shell corp with no assets to employ the illegals, then skip the country with your loads-o-loot. Cayman Islands are nice this time of year, no?
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Re: Net Worth $1.6m @ 51 I don't feel rich - explain that!
Old 10-27-2005, 10:05 AM   #50
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Re: Net Worth $1.6m @ 51 I don't feel rich - explain that!

Quote:
Originally Posted by TromboneAl
That is, you might feel guilty that you'd be giving up the chance to make a lot of money with just a little extra effort.
Hey, if that was my life philosophy then I wouldn't be an ER. I'd be a GS-13 teaching nuclear engineering and spending a midwatch or two in shipyard helping log calorimetric data. Just another wild & crazy guy chasing an $80K/year paycheck.

Oh, yeah, I guess I'd still have to make the time for that family, yardwork, & home maintenance stuff. Then there's all the effort frittered away on surfing & reading. Damn, what a waste of good leisure hours.

For me the cost of working became higher than any expected profit. Especially if working kills you erodes your lifespan. However I don't mind a bit picking up pennies & cans while I'm strolling the neighborhood.

Quote:
Originally Posted by retire@40
You better use some of the money you picked up to pay for a large workers comp policy in case those "day workers" decide to take a spill and hurt their backs.
Wouldn't it be easier to pay a cut to the guy who's laying down the bills in the first place for him to deliver them directly to your bank account? Oh, wait, we call that a "pension."
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