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people seem to be upset/disappointed with those who have the opinion $100k is not life changing.
Do you consider 100k life-changing money?
Belgium
formerly colombia
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Speaking from personal experience, absolutely.
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Do YOU understand what life changing means?
That 100k could be what someone needs for a downpayment on a home, to pay medical bills, to jump start their business, to pay off student debt, etc.
"Life changing" doesn't mean it will completely transform your life. You're jumping to extremes.
Life changing means can that money be used to pivot a situation/moment in your life for the future. It doesn't mean you'll be Warren Buffet or Bill Gates after.
Hell, $500 could be life changing to someone depending on their situation.
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congrats u blessed
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Not really. Would still maintain the same lifestyle and it wouldn’t change stuff much. I have savings, housing, and other stuff taken care of. In other to be life changing it would need to be at least $1 million post tax. 100k is a drop in the bucket when living in nyc.
Quick edit:
Now I travel to small towns in the Midwest for work and I see how it would be life changing in such areas. But when you live in a a NYC or San Fran with a finance or tech career it ain’t much.
Quick edit:
Now I travel to small towns in the Midwest for work and I see how it would be life changing in such areas. But when you live in a a NYC or San Fran with a finance or tech career it ain’t much.
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Life changing can mean whatever one want it's to.
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Man 100K eliminates all revolving credit card debt, both my car notes my student loans AND leaves me enough to buy an investment property.
I make "alot" of money and that would dramatically change my life.
100k would put me in a position to retire in 8-10 years.
I make "alot" of money and that would dramatically change my life.
100k would put me in a position to retire in 8-10 years.
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True but for him to say "I don't think people get what life changing means" is him assuming everyones situation and how that money could effect anyone.
The richest man in the world has "life changing money" but he still wakes up and goes to work everyday, he still eats the same foods, etc. According to his logic.
Because if you think about it, one doesn't need money to change their life. Changing your spending habits, diet, sources of income can change your life. So if we're putting a dollar amount on "life changing" it could be as little as $0 if we're talking about someone who has the ambition, is financially sound, and has enough self control to make things happen for themselves. "Life changing" can be any dollar amount, high or low. Its about what you do with that money that changes your life. Not the amount you're given.
Obviously giving someone who has no job or income $100k is life changing, but even for someone making $100k+ annually, 100k CASH my g? Tax free? That money can be a vehicle to take you anywhere.
But I guess its like you said, it can mean whatever one wants it to. But I beg to ask, is it not life changing to one as much as it is them not realizing/identifying how life changing it in fact was?
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You make a lot of money but $100k puts you in position to retire in 8-10 years? How? Those two don’t go together. Unless your 75 years old.
Curious.
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100k would eliminate all my consumer debt.
Combine that with my current income and i could invest enough over the next 8-10 years I'd be in position to quit corporate America and live off of those investments.
That's assuming the real estate market or stock market doesn't have a dramatic downturn of course
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Ok. I meant no disrespect.
I couldn’t live off $100k right now but I could when I’m in my 70’s, most likely, but I wouldn’t want to
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How long would it take you, current lifestyle, to go through 100K?
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Right now at my age with a mortgage? Impossible.
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examples?
D.Josey
formerly dzaster
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100k isn't enough to retire off of or even close.
But given my current assets and income and combined with no debt outside of my mortgage and I'm done with corporate America in 10 years easy with 100K tax free dropped in hands tomorrow.
My kids education is already taken care off and my wife actually likes her job so she's not retiring anytime soon.
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By your logic then $0 could be life changing. You could go out of your way to be nice to someone at work that’s depressed and start inviting out them to lunch with your crew. That could change their life.
I’m not saying I disagree with your point of view but I see the question differently.
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Hell yea. If I can pay off my loans, that moment alone will be life changing
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I respect it
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100% subjective
there's a reason why a lot of folks who win big $$ in the lotto end up ruining their lives , but seeing as this is hypothetical and all . .
right this second with a magical bag of 100k ~ i would retain a nice attorney and pay off these court fees / old student loans + anything leftover i would use to try and start my lil idea of putting ATM's into weed shops round LA (think i'm late to the party on that one)
it's definitely not enough to retire on (*for me*) unless i move into sunnyvale trailer park and room with bubbles
there's a reason why a lot of folks who win big $$ in the lotto end up ruining their lives , but seeing as this is hypothetical and all . .
right this second with a magical bag of 100k ~ i would retain a nice attorney and pay off these court fees / old student loans + anything leftover i would use to try and start my lil idea of putting ATM's into weed shops round LA (think i'm late to the party on that one)
it's definitely not enough to retire on (*for me*) unless i move into sunnyvale trailer park and room with bubbles
Top Boy
formerly jay patt
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How is 100K life changing? Make nearly 3/4th of that a year and I'm not close to 30.
Definitely not life changing.
Definitely not life changing.
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I have no debt and $100k is enough for a down payment for a home, that's it
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For certain scenarios, yes.
E.g. You make 50k a year, then you move to 100k. Your happiness increases and your stress decreases if nothing else changed in your life.
Supposedly, 75k per year for a salary is the threshold for happiness. E.g. Going from 50 to 75k a year, the happiness you gain from that is much more than going from 75k to 100k even though you increased your yearly salart by the same amount.
E.g. You make 50k a year, then you move to 100k. Your happiness increases and your stress decreases if nothing else changed in your life.
Supposedly, 75k per year for a salary is the threshold for happiness. E.g. Going from 50 to 75k a year, the happiness you gain from that is much more than going from 75k to 100k even though you increased your yearly salart by the same amount.
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LA shops don’t have a workaround? I know when I was visiting Denver they’d just use your debit card and transfer it on a gift card and use it that way. Seems much simpler and costs less than having ATMs.
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every single one in LB/LA that ive been to has been cash only - no gift card jig that i know of . they usually have an atm in the lobby , one time in wilmington i actually saw the manager yell at the atm service dude cuz he got there late and customers couldn't pay . there was 1 shop in sherman oaks that was legit (got the license to operate legally - political connects I'm sure) and even they were cash only (but also charged tax lol) . tbh i think I'm too late - mad illegal/legal shops already have ATM's . the only drawback would be (possibly) losing your cash+machine when the place gets raided & product/$$ get seized .
wanted to try and start a lil company to put em in the legal joints but i gotta meet ppl that have the license which are few and far between . getting raided and reopening seems like a major headache that i'm not down for . 2019 mission is to link up with some of these mmj retail kingpins and make something happen