Page 2 of 4 FirstFirst 1234 LastLast
Results 11 to 20 of 36
  1. #11
    StealDragon's Avatar
    StealDragon is offline Super Moderator Community Builder
    Join Date
    Apr 2005
    Location
    NCC-1701
    Posts
    13,412

    Default

    Because ~660 square feet is fucking TINY.


    I'd like to die with the songs I love stuck in my head. I hope to make the most of these hollow bones we become.
    I raise a toast to the the souls that sang all along. I've been gathering friends to just to make some sounds,
    before the ship goes down, I've been making amends by making the rounds before the whole world ends


    [Chit Chat Specific Forum Rules] // Last Update - Friday March 13, 2009

  2. #12
    Terasiel is offline Senior Member Community Builder
    Join Date
    Sep 2006
    Location
    South Carolina, US
    Posts
    3,310

    Default

    Quote Originally Posted by neruke View Post
    No. Absolutely not.

    You may find it ridiculous to say that a million is nothing, buts thats reality.
    You cant change anything with a million, you can buy yourself a house and a car, and thats it.
    Cool, still nothing.
    With One Million Dollars...Oh Dear God I'm gonna do it.

    I CALL BULLSHIT!

    I live in Lancaster, South Carolina. With a single one million dollars, after initial taxation, I could live decades with little to no effort in saving money. Hell, with the right investments and a basic internet-based supply business that grosses less than $20,000 dollars per year, that amount could easily keep you living within modest luxury for as long as you can possibly live.


    _______________________________________
    My home...

    3 Bedroom House - $149,900

    My car...

    2007 Nissan 350z - $30,000

    My TV...
    Hitachi - 50" 1080i Plasma Screen - $2,500

    My computer...
    Aurora 7500 - $1,200
    +
    My monitor...
    LG - 22" Flat-Panel LCD - $330

    My game systems...
    PS3 + 5 Games = ~$700
    Xbox 360 + 5 Games = ~$700
    Nintendo Wii + 5 Games = ~$500

    _______________________________________

    All in all I've spent (after tax) - about $200,000.

    This means I have $800,000 dollars left, with no house payment, no car payment, a (consumer level) top of the line computer, a nice monitor, a very decent HDTV, and top it all off with no kids or loan payments. And you've got a lifetime of southern comfort. (yes, I said that. I so did.)

    EDIT: Since no one's commenting just yet, I thought I'd put up what a $1,000,000 dollar house within walking distance of my own home looks like.


    Million Dollar House (5,354 sq.ft) - Lancaster, South Carolina
    (and an unrelated note: My state knows how to pick an insect: Carolina Mantis)
    Last edited by Terasiel; 02-17-2008 at 06:33 PM. Reason: Nnoitora

  3. #13
    Henchy432 is offline Senior Member Community Builder
    Join Date
    Oct 2006
    Location
    Harlem
    Posts
    3,811

    Default

    @ Terasiel,sorry you are wrong. Half of the money gets taken away,from the start. So you are left with 500k,then you have to pay yearly taxes on that,your car,house and other things.

    @Steal, as you know, I live in NYC too. Unless, I get a great deal, I am never buy in the city. I might buy in NJ. =/

  4. #14
    Terasiel is offline Senior Member Community Builder
    Join Date
    Sep 2006
    Location
    South Carolina, US
    Posts
    3,310

    Default

    Quote Originally Posted by Henchy432 View Post
    @ Terasiel,sorry you are wrong. Half of the money gets taken away,from the start. So you are left with 500k,then you have to pay yearly taxes on that,your car,house and other things.
    Speaking of taxes, you mean...dun dun duuuuun:
    Me: With a single one million dollars, after initial taxation, I could live decades with little to no effort in saving money.
    The part I bolded at the top?! Madness!

    How am I wrong? Exactly which taxes are you refering to that would make 800,000 dollars (I secretly included 20,000 extra dollars in tax in the total that was at the end of the post) suddenly turn into $0 in less than a decade? I can't even begin to imagine what tax bracket you're referring to. In case you haven't considered it, the average person in South Carolina makes less than $1,800,000 (without tax being deducted) in 45 years of work. If you include a 40% deduction rate, that's only about $1,080,000 period.

  5. #15
    StealDragon's Avatar
    StealDragon is offline Super Moderator Community Builder
    Join Date
    Apr 2005
    Location
    NCC-1701
    Posts
    13,412

    Default

    Quote Originally Posted by Henchy432 View Post
    @Steal, as you know, I live in NYC too. Unless, I get a great deal, I am never buy in the city. I might buy in NJ. =/
    Jersey sucks, haven't you watched Clerks?!


    I'd like to die with the songs I love stuck in my head. I hope to make the most of these hollow bones we become.
    I raise a toast to the the souls that sang all along. I've been gathering friends to just to make some sounds,
    before the ship goes down, I've been making amends by making the rounds before the whole world ends


    [Chit Chat Specific Forum Rules] // Last Update - Friday March 13, 2009

  6. #16
    Henchy432 is offline Senior Member Community Builder
    Join Date
    Oct 2006
    Location
    Harlem
    Posts
    3,811

    Default

    Quote Originally Posted by Terasiel View Post
    I live in Lancaster, South Carolina. With a single one million dollars, after initial taxation, I could live decades with little to no effort in saving money. Hell, with the right investments and a basic internet-based supply business that grosses less than $20,000 dollars per year, that amount could easily keep you living within modest luxury for as long as you can possibly live.

    _______________________________________
    My home...
    $149,900

    My car...
    2007 Nissan 350z - $30,000

    My TV...
    Hitachi - 50" 1080i Plasma Screen - $2,500

    My computer...
    Aurora 7500 - $1,200
    +
    My monitor...
    LG - 22" Flat-Panel LCD - $330

    My game systems...
    PS3 + 5 Games = ~$700
    Xbox 360 + 5 Games = ~$700
    Nintendo Wii + 5 Games = ~$500

    _______________________________________

    All in all I've spent (after tax) - about $200,000.

    This means I have $800,000 dollars left, with no house payment, no car payment, a (consumer level) top of the line computer, a nice monitor, a very decent HDTV, and top it all off with no kids or loan payments. And you've got a lifetime of southern comfort. (yes, I said that. I so did.)

    EDIT: Since no one's commenting just yet, I thought I'd put up what a $1,000,000 dollar house within walking distance of my own home looks like.

    The amount taken out

    http://answers.yahoo.com/question/in...5174320AAmVRNY

    If the person has ALREADY used their lifetime unified credit the tax due will be $341,120
    Lets do math 1mill -341,120=$658,880. That is just the federal. So you really start with nearly 700k.

    $658,880-$149,900(House)=$508,980

    $508,980-$30,000(car)=$478980. Do you see where this is going. You have to pay taxes on everything that is left over, taxes on the house.

    $478980/40yr= $11,974.50 is nothing to live off a year.

    Quote Originally Posted by StealDragon View Post
    Jersey sucks, haven't you watched Clerks?!
    Unless, I whore myself to a thousand fat chicks. I won't be able to buy in the city.

  7. #17
    Terasiel is offline Senior Member Community Builder
    Join Date
    Sep 2006
    Location
    South Carolina, US
    Posts
    3,310

    Default

    Quote Originally Posted by Henchy432 View Post
    Lets do math 1mill -341,120=$658,880. That is just the federal. So you really start with nearly 700k.
    For the second time in a row, I specifically noted that the "$1,000,000" was the amount left over after the initial taxation. In other words, I was doing the math from the scenario that I had been given an exact amount that would be reduced down to a clean "$1,000,000."

    _______________________________________
    $1,000,000-$149,900(House)=$850,100

    $850,100-$30,000(car)=$820,100.

    $820,100/40yr= $20,502.50 per year. That may very well be enough to keep me up; but let's just say I knock it down to 25 years.
    $820,100/25yr = $32,804 a year. - If you go by this estimate, that places me about $10,000 under the newest average income rate.

    Fact Finder - Income Survey
    South Carolina Average Income- $42,625

    By those statistics, and assuming my scenario was having $1,000,000 left over after the initial taxation, could I not survive at least 25 years without needing either a job or another source of income?
    EDIT: Apparently, It's like 11:30pm, I'll have to respond to anything else tomorrow evening.
    Last edited by Terasiel; 02-17-2008 at 08:31 PM.

  8. #18
    Edmon is offline Junior Member Newbie
    Join Date
    Feb 2008
    Posts
    12

    Default

    Hahaha, I am sorry if this is slightly racist, but I love how the americans in this thread constantly go on about tax like it's a big deal.

    If you read my original post I said.

    "In a country like China or India".

    You know why? Because theres hardly any tax in these countries at all. As Tera quite rightly pointed out, in most parts of America you CAN actually live for a very long time in confort on 1mil. Maybe not "for life" but certainly 30-40 years.

    Anyone who knows anything about money will tell you, you store such wealth in an OFFSHORE account where it will NOT BE TAXED. If the government want a slice of your pie you just leave the country and start a new life somewhere else.

    I mean, it's not like you can't order anything you could possibly want online anyway.

    If you really need to go to america, just go there for holidays. It'd probably cost a lot less in the long run.

    In Jersey (where I live it's a small island) the tax is very low (almost non-existance) and it's quite possible to "survive" on as little as £200,000 with a standard 6% interest rate and NO tax to pay on it.

    I used to work for a large bank so I know how these things can be done .

    Support Manager of www.mech.vg not this site .

  9. #19
    Sherman is offline Senior Member Always Around
    Join Date
    Aug 2005
    Location
    Tokyo
    Posts
    2,227

    Default

    Quote Originally Posted by Edmon View Post
    If the government want a slice of your pie you just leave the country and start a new life somewhere else.
    It's just that easy, guys!

    Alos, Terasiel, it looks like houses in your neighbourhood are haunted.

  10. #20
    Edmon is offline Junior Member Newbie
    Join Date
    Feb 2008
    Posts
    12

    Default

    Quote Originally Posted by Sherman View Post
    It's just that easy, guys!

    Alos, Terasiel, it looks like houses in your neighbourhood are haunted.

    It is if you hold an EU passport .

    You can live just about anywhere (but the US haha).

    Support Manager of www.mech.vg not this site .

 

 
Page 2 of 4 FirstFirst 1234 LastLast

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
vBulletin Skin by: ForumThemes.com
Powered by vBulletin® Version 4.2.0
Copyright © 2014 vBulletin Solutions, Inc. All rights reserved.
SEO by vBSEO 3.6.0 PL2

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79