Personally, if I had GabeN money to spend on a yacht, I would commission something similar to S/S Delphine, S/S Norrskär or /
S/S Storskär, I love the classic lines of a late 1800s, early 1900s small ship.
Why specifically $5M and not say $1M? Building a house should apparently cost you half of that, and I assume the rest is for investing into passive income?
I agree with the other guy, talk is cheap. I probably don’t need a 4k TV or multiple consoles, but I immediately started planning and buying after a raise.
I would agree that 1M is enough to live comfortably, everything on top of that you are seeking luxury that you don’t really need like an house in a fancy area or way to big
I have three kids to support, and $1M would only produce about $30k/year in income if I use 3% withdrawal. I can’t realistically use a higher withdrawal rate given how far I am from retirement.
I probably only need $2-3M (current spending is $60k or so), but $5M gives me plenty of cushion and lets me donate generously to causes I believe in. At $2-3M, I need to be careful when the economy is bad, $5M means I’ll never need to worry about money again.
If I were a billionaire I would buy an old ass ship (forgive me IDK much about naval history) like an ironclad, retrofit it with a nuclear reactor and then full horsepower it through a yacht yard
Personally, if I had GabeN money to spend on a yacht, I would commission something similar to S/S Delphine, S/S Norrskär or / S/S Storskär, I love the classic lines of a late 1800s, early 1900s small ship.
Modern yachts/ships look so boring…
I would probably donate most of it to a worthy cause. I don’t need anywhere near that amount of money, anything over $5M gets donated.
Talk is cheap.
Give me a bunch of money and I’ll show you. 😜
Why specifically $5M and not say $1M? Building a house should apparently cost you half of that, and I assume the rest is for investing into passive income?
I agree with the other guy, talk is cheap. I probably don’t need a 4k TV or multiple consoles, but I immediately started planning and buying after a raise.
I would agree that 1M is enough to live comfortably, everything on top of that you are seeking luxury that you don’t really need like an house in a fancy area or way to big
I have three kids to support, and $1M would only produce about $30k/year in income if I use 3% withdrawal. I can’t realistically use a higher withdrawal rate given how far I am from retirement.
I probably only need $2-3M (current spending is $60k or so), but $5M gives me plenty of cushion and lets me donate generously to causes I believe in. At $2-3M, I need to be careful when the economy is bad, $5M means I’ll never need to worry about money again.
If I were a billionaire I would buy an old ass ship (forgive me IDK much about naval history) like an ironclad, retrofit it with a nuclear reactor and then full horsepower it through a yacht yard
if you show up with one of these other billionares would think you got it from a ship breakyard
Nah, they would be restored to perfection and upgraded with modern tech