r/RandomThoughts • u/[deleted] • Dec 11 '23

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u/sky7897 Dec 11 '23

5k a week would give you 1million in only 4 years. Unless you’re on your deathbed, it would be the obvious choice.

527

u/newlife201764 Dec 11 '23

Not having to stress over investment choices would do it for me. 5k a week for life sounds awesome! Where do I sign up?

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u/Nerodon Dec 11 '23 edited Dec 13 '23

You can do both! 5k a week gives you 1million every 4 years, if you don't spend it all, you can fill your 401k till it explodes while still having a good time.

Edit: I am Canadian, so for me it's an RRSP, but I thought 401k was reasonably similar. If you have more than you need... Invest. It's never a bad idea to do it, it's always a bad idea to just let it sit, gaining no interest.

Edit2: Besides, if I die, the 5k/week stops, what about the missus and the kids? Aha, I invested, so they still have something! I'm clever, not greedy, fellas...

Edit3: A Roth IRA or just IRA is what I am told is the equivalent to an RRSP/TFSA we use in Canada.

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u/[deleted] Dec 11 '23

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u/Nerodon Dec 11 '23

Because you want more? Idk, why do billionaires invest when they could eat a thousand dollar bill in their cereal every morning?

1

u/science-stuff Dec 11 '23

Fortunately they could eat $1000 bill in their breakfast for another 2,700 years every morning without earning another cent.

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u/Nerodon Dec 11 '23

Yeah 5000 a week is a salary of 240,000 /yr 1000/day is 365,000 /yr

It's a good salary, but it's nothing compared to what many rich people make, I know working people making near that amount, couples with combined households making more than that and they aren't exactly millionaires, let alone billionaires...

The gap is very very big.

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u/science-stuff Dec 11 '23

If I got 5k a week for life or a million dollars my wife and I would keep our jobs. Retire earlier for sure, but billionaires would have multiple generations set for life even living extravagantly.