I need about 150K a year to live..
THANKS
2006-10-14 17:05:09 · 11 answers · asked by Mike G 1 in Business & Finance ➔ Other - Business & Finance
well i'm afraid to earn 150k year off of a million means you need to find an investment that 'yields' or gives a return on 15% year.
The only investments that give this amount of cash are high risk ones (otherwise everyone would be putting all there cash in and making 15% / year!!)
The most you can earn 'risk free' is close to the fed-funds rate of 4%. (40k/year) in a savings account.
Hedge funds and private equity can give you those 15% returns when going is good but its always up and down.
fidelity have a range of funds (high, medium and low risk) - you can mix. Maybe put 500 in into low risk, 250 into medium and 250 into high.
good luck and congrats on the million!!!
2006-10-14 17:14:50 · answer #1 · answered by khowlada 1 · 0⤊ 1⤋
spend 500k cash on a house in a hot market, live off 150k a year for 3 years, spend the extra 50k investing in the house, sell it for 1 - 1.5million, maybe 2 depending on the market and upgrades. repeat process until you have enough to retire
2006-10-14 17:14:02 · answer #2 · answered by Nathan K 3 · 0⤊ 0⤋
You need a 15% return on your investment...and you won't find that kind of return in anything that's guaranteed. You can either invest in a sure thing that pays around 5% (lot of municipal bonds in that range, plus they're free of any federal taxes) and live on 50K a year, or else put your money in something more risky.
Good luck...
2006-10-14 17:11:34 · answer #3 · answered by Anonymous · 1⤊ 0⤋
You will need a 30% return on your money because you will need to pay taxes on it. That is not going to happen.
you could invest in tax free bonds but at most you will only get 3% and they may not be fully tax free (state and federal taxes)
best place is with a principle preserving fund and dont stop working.
2006-10-14 17:31:40 · answer #4 · answered by smkwtrjck 4 · 0⤊ 0⤋
Honestly, I would do some research and figure out what industry is growing and staying in a steady upward flow. Then either invest in a business that deals in that industry, or start your own business in that industry. Personally, I would start my own business, that way you will keep a positive flow of income streaming in each month, provided that you hire good people and provide excellent customer service and competitive rates. Good Luck!
2006-10-14 17:09:10 · answer #5 · answered by Erica R 3 · 1⤊ 0⤋
You could invest in real estate, buy cheap, you could check into buying real estate for back taxes. Also, if you do invest in real estate, and become a professional landlord, any units that sit vacant, you can deduct the amount you should have made on rent from the taxes you would have to pay, any money you spend in repairs, you can deduct from your taxes and as we all know, property always increases in value and never decreases!!!
2006-10-14 17:17:40 · answer #6 · answered by Tammy C 3 · 0⤊ 1⤋
I would suggest annuities, mutual funds and just live off the interest alone and invest it as you see fit.. Contact your nearest New York Life Agent today and find out more details..
2006-10-14 17:14:50 · answer #7 · answered by Teetee 2 · 0⤊ 1⤋
You could send me some of it and I'll give you some great investment tips. With that much money, I have a feeling you don't have anything to worry about.
2006-10-14 17:17:55 · answer #8 · answered by scrapper723 2 · 0⤊ 1⤋
put your money in an offshore acct non taxable with high interest,invest in real estate.live off of the interest and the money you make devoloping land
2006-10-14 17:10:05 · answer #9 · answered by seth s 3 · 0⤊ 1⤋
I'm looking for a sugar daddy!
2006-10-14 17:13:33 · answer #10 · answered by fluffer 2 · 0⤊ 1⤋