can you live with $500000 your entire life without working?

Answer 1

Do you consider passive investing working? If you have $500k at one time, you can set up enough income producing investments that you don't need to work. For example, you could buy an apartment complex.

Answer 2

If you got it the day you were born and it was invested and assuming your parents took care of you for the years birth through age 18 you would be just fine as the initial half mill would be worth quite a bit more by that time. If you mean something like saving $500,000 and retiring early it is possible but not without careful planning

Answer 3

To do the the excellent option element on the the excellent option time is a blessing. in case you're youthful get married and after retiremet at 50 or 60 stay the existence of a renunciater. learn the 4 stages of existence. to no longer marry and to maintain your mandatory capability will advance your existence span presented which you persist with the the excellent option ideas of yoga. connect the ashram of Swami Ramdev. don't think those people who say that that is a commandment from God that one and all guy and all women people ought to marry. there are literally 1000's of single persons in this earth in spite of the undeniable fact that they opt to marry yet they can't detect a companion. Brahmacharya does advise to no longer marry. Brahma means god, veda and documents. So every physique this is committed to god veda and documents is following brahmacharya. Even a married guy or woman can look after brahmacharya.

Answer 4

Sure you can. But it will depend on many personal details you don't mention.
1) Cost of living its dramatically different depending on the country of the world you chose to live. In nice south American countries, like Chile, Argentina or Uruguay, cost of life is at least, less than 1/2 from cost of life on developed countries. For the same quality of life.
2) Size from your family. Or if you live alone, or you consider only yourself.
3) How old are you, and how many more years you expect to leave.
4) The kind of life you'll be satisfied to live.

Considering that if you invest your money, you can get an annual interest rate of 6%

And considering purchasing power of money decreases year on year at the same rate, 6%

Your budget will have to fit with the years you expect to leave.
(Supposing that when you die, no money will be left)

If you want to take coverage for 80 years (seems to many) you'll have to leave with an amount of money equivalent to the actual purchasing power from $ 550 monthly.
For 60 years: $ 750 per month
40 years: $ 1.100/m
30 years: $ 1.500/m
20 years: $ 2.200/m
15 years: $ 3.000/m
10 years: $ 4.400/m

Of course, there are many resources left, but I don't think that's the spirit from your question. With 500.000 cash, available, you can get married with a rich woman, or with one that will work for you, etc. etc.

Answer 5

Depends on where you live and what your lifestyle is like. $500k goes a lot further in the Mexican interior than it will in Malibu, and a lot further if you ride a bike than if you drive a Hummer.

other factors (how's your health? big hospital bills in your future? do you have a family to support? do you have other sources of income from rental properties, child support, etc? are you paying taxes in your country of residence?) will all play into the equation. it's not quite so easy as it sounds....sorry....

Answer 6

yes I could honestly I'd make it stretch baby! investments being frugal in expenditures of course some live in poverty their entire life why get money and blow it.

Answer 7

yes i suppose, but why dont you but something that will make you monye as well, like as above an partment complex with tenants?

Answer 8

nos buying a house cost more than tat

Answer 9

yes