World's 8th Richest Man Loses 34.5 Billion Dollars - Polidicks

[QUOTE=Furioso;41609648]man, I could live modestly for the rest of my life, and comfortably, off just 1 mil[/QUOTE] nope.

[QUOTE=person11;41615334]Good point. In theory you are right, in practice, simply having everything in dollars is rather safe, unless you are a Ron Paul fan (even though the price of gold is falling).[/QUOTE] dollars are prone to inflation. if you want the safest money, buy platinum. it doesn't fluctuate like silver and it's more immune to crashes than gold

The highest the dollar has been recently was 4% in 2009, which is not that bad at all. Right now it is 1.8%. But you are right that Platinum is very stable.

i know this guy's daughter, partied with her a few times and stuff p sad that he lost all that money though

[QUOTE=Furioso;41609648]man, I could live modestly for the rest of my life, and comfortably, off just 1 mil[/QUOTE] Not really, unless you're being [i]really[/i] conservative. [editline]28th July 2013[/editline] Also, this guys fall might have something to do with how the US is vamping up for complete and utter oil market domination recently, although he might have just used all his money on hookers and blow.

[QUOTE=ForgottenKane;41621047]Not really, unless you're being [i]really[/i] conservative. [editline]28th July 2013[/editline] Also, this guys fall might have something to do with how the US is vamping up for complete and utter oil market domination recently, although he might have just used all his money on hookers and blow.[/QUOTE] Not really, if you live somewhere like Estonia you could easily live on that for the rest of your life.

[QUOTE=ForgottenKane;41621047]Not really, unless you're being [i]really[/i] conservative. [/QUOTE] Living off of Ramen in an Asian sized apartment without having to work is a great life.

[QUOTE=LegndNikko;41609979]If you got a ~75K a year income, and lived how you did then, $1,000.000 would last you a bit over 13 years.[/QUOTE] invest smartly, live on interest

[QUOTE=Furioso;41609648]man, I could live modestly for the rest of my life, and comfortably, off just 1 mil[/QUOTE] Take that one mil and explore as much of the world as you can before it runs dry; travel by bike and hitchhike by car/boat.

[QUOTE=SubbyV-2;41610721]Could you put a million in the bank and live off interest?[/QUOTE] 5% of that is $50,000, (good luck getting 5% lol) but you can reasonably expect to lose between 30-60% of that to taxes (sales tax, income tax, etc) depending on where you live. Imagine the taxes amounted to about 50%... you would have 25k a year. Considering you probably wouldn't be adding any money to your $1 million principal, inflation would eventually catch up and your 25k would be worth even less. Let's imagine you won the lottery for $10 million, but otherwise similar rules. Interest would amount to ~$250k a year. That is $20,833 a month. If you can't live on $20k a month ($694 a day, which where I live is approximately the average monthly rent) you're clearly doing something wrong.