Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Economy
Related: About this forumCan anyone be a millionaire next door anymore?
For those who missed it, Thomas Stanley died at the end of February.
Splitting this post so I don't waste it again.
InfoView thread info, including edit history
TrashPut this thread in your Trash Can (My DU » Trash Can)
BookmarkAdd this thread to your Bookmarks (My DU » Bookmarks)
4 replies, 892 views
ShareGet links to this post and/or share on social media
AlertAlert this post for a rule violation
PowersThere are no powers you can use on this post
EditCannot edit other people's posts
ReplyReply to this post
EditCannot edit other people's posts
Rec (0)
ReplyReply to this post
4 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
Can anyone be a millionaire next door anymore? (Original Post)
nitpicker
Mar 2015
OP
Warpy
(111,300 posts)1. Yes, because a million bucks doesn't mean what it used to
It will afford you enough income to live on, although not well, and only if carefully invested.
You are talking hundreds of millions to Billions, and that is not as easy to do anymore.
nitpicker
(7,153 posts)2. Can Mr Frugal (retired) afford to live anymore?
Let's assume Mr Frugal is getting 3% on his million dollars worth of CDs.
IRS gets about $2500.
State tax about 1500.
So on 26K a year:
Utilities 4K (everyone else lives on the internet, so he has to too....)
Food 3K
Medical (premiums plus visits/meds) 4K
Transport 4K (gas/insurance/repairs)
House insurance 1K
House tax 7K (the yuppies have replaced the deceased)
So 3K a year for all else...
nitpicker
(7,153 posts)3. One way to find out finances
http://www.michellesingletary.com/21-day-financial-fast.html
The budget calculators give one a way to apportion annual expenses out by month.
But it doesn't really account for seeing grandkids, putting THEM through college, etc.
The budget calculators give one a way to apportion annual expenses out by month.
But it doesn't really account for seeing grandkids, putting THEM through college, etc.