Tex_Ag_2017 said:

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You could put 2 million in stocks such as spy and qqq for growth. Rest invest in wheel strategy for income in stocks like SOXL, TSLL, and TQQQ. Buy shares and sell call contracts against it. Can mix in some cash secured puts. This strategy can return 7.5-10% monthly. If the stock goes down, just roll the calls out to the next week. You could easily bring in $100k a month wheeling stocks.

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This sounds awesome but I have no idea what you just said. Can you break it down step by step like I am an 8 year old?

Tex_Ag_2017 said:

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You could put 2 million in stocks such as spy and qqq for growth. Rest invest in wheel strategy for income in stocks like SOXL, TSLL, and TQQQ. Buy shares and sell call contracts against it. Can mix in some cash secured puts. This strategy can return 7.5-10% monthly. If the stock goes down, just roll the calls out to the next week. You could easily bring in $100k a month wheeling stocks.

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Are you saying that you are going to make $1.2M per year on top of your $1M allocated to day trading? Easily?

aTm_bomb said:

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If this was the case, we would only need $10k and could retire in just a few years. I'd quit my job tomorrow. No need to wait for the hypothetical $3m to start. 10% return a month compounds real quick.

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I want his newsletter!

aTm_bomb said:

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If this was the case, we would only need $10k and could retire in just a few years. I'd quit my job tomorrow. No need to wait for the hypothetical $3m to start. 10% return a month compounds real quick.

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Don't bring facts and real math into his suggestion.

Cyp0111 said:

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We have high property taxes and insurance.

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I believe the last time I looked, Texas averaged 2% in property taxes. Me for example in the city of Houston is 2.56%.

New Mexico about 1%. Arkansas about 0.6%.

Depending on the value of the land today and in the future, lower property tax and insurance can quickly make up for a state income tax in retirement.

Premium said:

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He Who Shall Be Unnamed said:

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Cyp0111 said:

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I think you can find an IC job at a lot of companies and just do a slightly above average job which isn't too much and enjoy life.

I think with a role like that, you're not bringing home deal stress or stress of advancing up the corporate side as I guess you are largely covered. With that said, I would need to be closer to $7-8MM to go on coast mode.

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Just curious. What would your thinking be for coasting once you reached this figure?

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Same, 4% return = $300K +/- which is a nice number

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Thanks. I'm 58, debt free, and sitting right around that number. I don't have any other sources of passive income and work stresses me out a lot. Unfortunately, for me it's pretty much all or nothing. I'm locked in to another 4 years of work, but after that.....

It's probably a pension hockey stick situation.

AgLA06 said:

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So the average life span for a male in the US is 77ish.

You're 58. Setting your high stress comment aside, on average life expectancy you could have 19 years left. How many are good is unknown. So in theory you probably have 25% of your life left.

If you can comfortably live off of $120K-$200K a year, is working that next 4 years worth giving up 20% of the expected time left? The older I get, the harder that question becomes.

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I get it. I've been dealing with an incredibly stressful job for 26 years. I am on no meds, my father is in his mid 80's, and 3/4 of my grandparents lived into their 90s (including 98 and 99). I obviously have no clue as to how long I will live, but I think it will be much longer than 77. I just signed a lease for my business, and in 4 years I won't have any kids in undergraduate education. That will be a great time to take a look at things. Plus, right now I'm putting away at least $250,000 per year. Doing that 4 more years will definitely help, pending a stock market collapse, etc.

Get out of sales and into ownership.

Pay taxes on 401 to Roth conversion. Put the rest in trusts for the kids along with the house. Walk the earth.

I got a REALLY bad sportfisher itch right now. So if you handed me $3M today, I'm buying a 54ft Viking and then continuing to work to pay for fuel and maintenance!

HECUBUS said:

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Walk the earth.

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Like Caine in Kung Fu? Walk from place to place, meet people, get in adventures?

Saltyag15 said:

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I got a REALLY bad sportfisher itch right now. So if you handed me $3M today, I'm buying a 54ft Viking and then continuing to work to pay for fuel and maintenance!

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You will burn through the balance inside of 18 months owning that boat.

YouBet said:

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Saltyag15 said:

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I got a REALLY bad sportfisher itch right now. So if you handed me $3M today, I'm buying a 54ft Viking and then continuing to work to pay for fuel and maintenance!

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You will burn through the balance inside of 18 months owning that boat.

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Perhaps, but it will be the greatest 18 months of that man's life!!

Obligatory

aggiefan2002 said:

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I am curious what the various (very intelligent and thoughtful) posters on this board would do if handed $3M in post tax money today. I understand the answers will vary widely based on your age, other investments, etc. but that's part of what makes me curious. I think answering this for a broad swath of folks will give a fantastic set of options rather than the more standard answers one might get if they spelled out their exact situation when framing this question.

So let's hear it: you're handed $3M in post tax dollars today. Tell me what you're doing with it and why.

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I reckon I'd farm til the money runs out...

So 5, maybe 6 years?

I have the under. That comes as a rancher.

I wasn't trying to be mean.