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Once again, it's time for the FNGT!

If you don't know how this works, click this link. That link will take you to another site to give you some additional information and tell you about some of our off-site features. That's also the site where we will host the weekly guitar threads, should Poal go down.

NOTE: That site is by invitation only. If you want an invite, and you're a regular participant, then just ask Crazy, or myself.

If you do know what's going on, you probably don't need to click that link - but you may want to, to make sure you know of the other features, such as the archive or a separate forum that's invite only.

Remember, we are guests here on Poal. Let's act like it. If you're interested in supporting Poal, then you can donate.

Once again, it's time for the FNGT! If you don't know how this works, click this link. That link will take you to another site to give you some additional information and tell you about some of our off-site features. That's also the site where we will host the weekly guitar threads, should Poal go down. NOTE: That site is by invitation only. If you want an invite, and you're a regular participant, then just ask Crazy, or myself. If you do know what's going on, you probably don't need to click that link - but you may want to, to make sure you know of the other features, such as the archive or a separate forum that's invite only. Remember, we are guests here on Poal. Let's act like it. If you're interested in supporting Poal, then you can donate.

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[–] • 0 pt

Yeah they would have to apply for disability. That 50 grand is not going to last very long. I remember when Opie's mother passed away, he inherited a little less than 50 grand, and he thought he was set for life LoL What an idiot!

[–] • 0 pt

LOL If you invest 50k, you'll get maybe 3.5k every year.

A good rule of thumb is 7%. So, if you invest 100k, you'll get 7k for your trouble. If you invest a million dollars, you'll get about 70k per year. It's possible to live on 70k per year, depending on where you live and what assets you started with. You're not going to buy a house (or even rent a house) in San Francisco for that, while you could easily live in Maine (even paying a mortgage) for 70k per year.

[–] • 0 pt

70k per year would be a fine income to live on here where I am. That would be like a grand a week after the taxes, which should be plenty

[–] • 0 pt

You'd think so, but your spending will likely increase. You'd have to pay attention to live within your means - while you're sitting there admiring things you can now 'afford'.

Depending on how you structure your investments, you can pay as little as 15 to 25% in taxes. If they're long-term investments, you're subject to 'capital gains' taxe rates - instead of being taxed at the same rate as income taxes. So, it's not too bad. Like the first 10k is tax-free anyhow, assuming you're single and filing by yourself - not married or anything like that.

At 70k, you should be hiring an accountant. (Obviously not full-time, like a few hours a year for like $500.)