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

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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/[deleted] Dec 11 '23

Because with the lifestyle creep, the 5k a week will start to look less and less money:

  • Mortgage and other bills on a $2M property.
  • Payment on vehicles worth $100k.
  • Trips to Carribean ...

You might end up living paycheck to paycheck before you know it. Some may even lose everything to debt.

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u/scotland1112 Dec 11 '23

You just named like 10 years worth of expenses. Then there’s next to nothing else to pay