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If you had half million dollars, what would you do?
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12ax7



Joined: 07 Nov 2009

PostPosted: Thu Oct 04, 2012 10:39 pm    Post subject: Reply with quote

PatrickGHBusan wrote:
Ok you win with your 4 villas for 500 000 becoming money making machines with no effort or expense on your part.

Let us know how that turns out should you ever win that 500 000$.


No effort or expense? Laughing

Someone's clearly never dealt with bad tenants, like the ones who never pay rent, those who always call to complain about their neighbors, or the ones who let their kids trash the apartment.

It's a good investment, but it's also a great way to compound your stress when you have a regular job.
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PatrickGHBusan



Joined: 24 Jun 2008
Location: Busan (1997-2008) Canada 2008 -

PostPosted: Fri Oct 05, 2012 5:34 am    Post subject: Reply with quote

12ax7 wrote:
PatrickGHBusan wrote:
Ok you win with your 4 villas for 500 000 becoming money making machines with no effort or expense on your part.

Let us know how that turns out should you ever win that 500 000$.


No effort or expense? Laughing

Someone's clearly never dealt with bad tenants, like the ones who never pay rent, those who always call to complain about their neighbors, or the ones who let their kids trash the apartment.

It's a good investment, but it's also a great way to compound your stress when you have a regular job.


Yep, but not according to some in this thread. Laughing
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KimchiNinja



Joined: 01 May 2012
Location: Gangnam

PostPosted: Mon Oct 08, 2012 6:29 pm    Post subject: Reply with quote

I'd be doing the same thing I'm doing right now!

Also I don't understand this concept that money or lack of money is somehow a controlling factor in what you do, just log off Dave's and go do it.
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PRagic



Joined: 24 Feb 2006

PostPosted: Mon Oct 22, 2012 4:32 pm    Post subject: Reply with quote

There are more than a few posters on Dave's who have that and then some.

No matter your age when you accumulate or acquire a decent sum, the important things to do are 1) preserve the principle, and 2) grow your returns.

500 grand can do a lot for you over the course of 10 or 20 years, even with modest returns reinvested.
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JustinC



Joined: 10 Mar 2012
Location: We Are The World!

PostPosted: Mon Oct 22, 2012 5:07 pm    Post subject: Reply with quote

PRagic wrote:
There are more than a few posters on Dave's who have that and then some.

No matter your age when you accumulate or acquire a decent sum, the important things to do are 1) preserve the principle, and 2) grow your returns.

500 grand can do a lot for you over the course of 10 or 20 years, even with modest returns reinvested.


Aren't we talking USD and not KRW?
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madoka



Joined: 27 Mar 2008

PostPosted: Mon Oct 22, 2012 6:01 pm    Post subject: Reply with quote

PRagic wrote:
500 grand can do a lot for you over the course of 10 or 20 years, even with modest returns reinvested.


Or it just seems to disappear every year. Crying or Very sad Half of my income goes to just these three basic things:

$160,000 in taxes (income and property)
$60,000 in mortgage payments
$30,000 in insurance (health, home, and car)
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ilikekimchi



Joined: 11 Sep 2012

PostPosted: Tue Oct 23, 2012 12:42 am    Post subject: Reply with quote

cj1976 wrote:
Every time I hear this type of question, I immediately think of the movie Office Space.
Two chicks at the same time.


Indeed!

I intend on retiring by 58 [as freedom 55 is too cliche]. I don't mind teaching, so I'll teach in Thailand or Vietnam, as those are the 2 options for my retirement-I've got the qualifications, so it's all good.

I've got some real estate and cash assets now-hardly enough to be independently wealthy, but slow and steady wins the race.
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PRagic



Joined: 24 Feb 2006

PostPosted: Tue Oct 23, 2012 2:47 am    Post subject: Reply with quote

@ Justinc...yes, we are talking green backs

@ Madoka...if you're paying 160k in taxes, you're well above the earning curve. The mortgage is a bite, but hopefully you're at least building equity. And, hey, gotta live somewhere! Even with that overhead, you should be banking at least 100k a year. Dig it.
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nate1983



Joined: 30 Mar 2008

PostPosted: Tue Oct 23, 2012 7:13 am    Post subject: Reply with quote

PRagic wrote:
@ Justinc...yes, we are talking green backs

@ Madoka...if you're paying 160k in taxes, you're well above the earning curve. The mortgage is a bite, but hopefully you're at least building equity. And, hey, gotta live somewhere! Even with that overhead, you should be banking at least 100k a year. Dig it.


I guess with 500k you can afford to work part-time or do something you really enjoy as long as you're in a place with a relatively low cost-of-living and/or no family to support.

Where I live 500k will buy you a nice studio apartment - luxury 1 bedroom you're looking at 700-800k. The housing market is ridiculous here. As you move out of the city a good 2 bedroom can be found for 500k, which is the bare minimum for a family. And if you wanna send your kids to US colleges, that's another 100-200k per kid, unless you luck out with scholarships, not to mention the general costs of raising them.

If I had 500k sitting around in Korea, I would probably get 1 or 2 decent apartments to rent out (preferably to foreigners) and keep the rest in cash and in my trading account.
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madoka



Joined: 27 Mar 2008

PostPosted: Tue Oct 23, 2012 11:40 am    Post subject: Reply with quote

PRagic wrote:
Even with that overhead, you should be banking at least 100k a year.


You are assuming I'm not a horrible spendthrift who would waste that $100K on stupid things like this:

http://i50.tinypic.com/2ivirgg.jpg
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PRagic



Joined: 24 Feb 2006

PostPosted: Tue Oct 23, 2012 3:57 pm    Post subject: Reply with quote

Sure, as someone mentioned, age is a factor. If you were, say, in your late 50s and only had 500K, you'd want to bank hard for a couple more years if you had to and then retire to someplace inexpensive where you could stretch your income. Or you can pay for a place where ever you want to live and space the payments over the course of a decade or two. Not cheap, but doable.

One couple I know has already gone ahead and purchased a 2 bedroom rooftop flat in Montreal. They love it there and that's where they plan on primarily retiring (they have another place all paid for in a tropical location for winters). A realtor manages the property for them and the rent covers the mortgage and expenses plus a little income (generally reinvested in upkeep).

College costs? Can be a burden, but don't have to be. My folks told us when we were kids that they wouldn't be paying. Study hard and/or play sports and get yourself a scholarship. Take loans. Work and pay. Go where they provide the best scholarship or, if you don't get one, where you can afford. That's life. That's reality. No free rides. And we all did OK; three boys, three MBAs and a Ph.D.

@ madoka...nice toy! But I'd just assume pick up something hot on EBay motors and pocket the difference lol!
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12ax7



Joined: 07 Nov 2009

PostPosted: Thu Oct 25, 2012 4:58 am    Post subject: Reply with quote

madoka wrote:
PRagic wrote:
Even with that overhead, you should be banking at least 100k a year.


You are assuming I'm not a horrible spendthrift who would waste that $100K on stupid things like this:

http://i50.tinypic.com/2ivirgg.jpg


Who are you trying to impress? Rolling Eyes
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DejaVu



Joined: 27 Jan 2011
Location: Your dreams

PostPosted: Thu Oct 25, 2012 5:10 pm    Post subject: Reply with quote

12ax7 wrote:
madoka wrote:
PRagic wrote:
Even with that overhead, you should be banking at least 100k a year.


You are assuming I'm not a horrible spendthrift who would waste that $100K on stupid things like this:

http://i50.tinypic.com/2ivirgg.jpg


Who are you trying to impress? Rolling Eyes


He's trying to impress no one. He just said that he wastes all of his money and gave an example. I'm sure any of us could afford that if we didn't mind wasting our money- and he knows this.
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12ax7



Joined: 07 Nov 2009

PostPosted: Thu Oct 25, 2012 10:08 pm    Post subject: Reply with quote

DejaVu wrote:
12ax7 wrote:
madoka wrote:
PRagic wrote:
Even with that overhead, you should be banking at least 100k a year.


You are assuming I'm not a horrible spendthrift who would waste that $100K on stupid things like this:

http://i50.tinypic.com/2ivirgg.jpg


Who are you trying to impress? Rolling Eyes


He's trying to impress no one. He just said that he wastes all of his money and gave an example. I'm sure any of us could afford that if we didn't mind wasting our money- and he knows this.


Read some of his past comments. The guy is definitely trying to impress.
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radcon



Joined: 23 May 2011

PostPosted: Fri Oct 26, 2012 2:56 am    Post subject: Reply with quote

12ax7 wrote:
DejaVu wrote:
12ax7 wrote:
madoka wrote:
PRagic wrote:
Even with that overhead, you should be banking at least 100k a year.


You are assuming I'm not a horrible spendthrift who would waste that $100K on stupid things like this:

http://i50.tinypic.com/2ivirgg.jpg


Who are you trying to impress? Rolling Eyes


He's trying to impress no one. He just said that he wastes all of his money and gave an example. I'm sure any of us could afford that if we didn't mind wasting our money- and he knows this.


Read some of his past comments. The guy is definitely trying to impress.


Meet Madoka. He has been coming on here for years boasting about his wealth as if any one cared. Then if somebody calls him out on it he says they are jealous and just a loser teacher.
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