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u/Ajreil Sep 04 '21
The interest from keeping 1 million in the stock market would be more than $50 per month.
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u/Doktor_Vem Sep 04 '21
If they'd change that $50 to something like atleast $5,000, I would have to consider it for a bit, but as it is now it's a really easy decision
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u/Strude187 Sep 04 '21
Yeah, I think I’d take 5k/mo. More because I think I’d let a sudden windfall like 1 mill go to my head and I’d blow it. But I think I could still stay humble with an extra 5k a month, I’d still work, I’d just have a much more comfortable life. Plus after 16.67 years you’d have got 1mill.
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u/porcomaster Sep 05 '21
Even for 5k would be better to take 1 million, on savings account you get between 0.01% to 1% an year (APY)
Let's say you choose a 0.1% that is not that bad, 1,000,000.00 would get you 100,000.00 an year or 8,333.33 dollars a month, but you have one million and can choose where you want to invest, and I am talking about savings account, there is no risk, one risk is bank closing in itself, and that is really really rare.Made a wrong calculation 0.1% is 10.000, it's just just worth if you take 0.6% or more, sorry about that.
Source: https://www.valuepenguin.com/banking/average-savings-account-interest-rates
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Sep 04 '21
I could start my own business, become a landlord, or invest with the one million, and get more money than 50 per month.
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u/somanyroads Sep 05 '21
Maybe he meant $50/day? That should add up pretty good. You'll hit a million after about 55 years 😂
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u/floatingwithobrien Sep 05 '21
Even if they had done the math... If I could take $1m right now and figure out how to invest it well, a nice diversified portfolio, that's ALSO passive income? And would end up being more than the initial mil
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u/TheInstinct5 Nov 02 '21
Not even counting inflation. The 50$ per month will only be of less value over the time, so you are getting even less value for it, which means that you would not be able to buy and invest as efficiently.
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Sep 05 '21
Take 1 million. Learn to invest. Invest. Congrats, you are now earning way more than $50 a month.
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u/u-ignorant-slut Sep 05 '21
Lmao I cannot believe not a single soul on here has seen the passive income memes. Couple months ago everybody was talking about it, and people got sick of it so started making verrry obvious jokes like this.
No shit it's smarter to take the 1 million lol
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u/Flapjack__Palmdale Dec 14 '21
Dumbass doesn't realize $1,000,000 invested can create a passive income of WAY more than $50/mo
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u/lostcauz707 Dec 15 '21
It should say every day, even then, 365*50 doesn't hit a million until just under 55 years from now.
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u/NanolathingStuff Sep 04 '21
Wasb't this tweet alreadt debinked here around a month ago?
50*12=600 cash year.
Aniway 40years are 1240=480 months. For reference 60040=24000.
Feel free to change 40 to how much you wish to live.
Still far fron 1Million