r/AskReddit • u/United-Difference961 • 15h ago
Would you accept $2 million today if the contract strictly prohibited you from ever holding a job again? Why or why not?
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u/Elrondel 15h ago
Yep.
I can retire on $80K/year for life. It's that simple.
Not even counting existing savings.
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u/christian_austin85 15h ago
Yes. I have other income (retirement/disability) and I can pay off all my debts/live off the interest of 2 million before I reach retirement age.
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u/PistachiNO 15h ago
It depends on the definition of job. I'm certainly still going to want to be helpful to my society whether or not I'm getting paid for it.
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u/Pencil161 15h ago
I'm 61 so, yeah, absolutely.
But if you're 21, that's a whole different math problem.
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u/that1cooldude 15h ago
What about blow Jobs?
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u/Icy-Inspection-2971 15h ago
Nope. Sorry, honey, I’ve been prohibited for life. Handjobs too. 🤷🏻♀️ Surely we can find an agreeable alternative for both of us.
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u/that1cooldude 15h ago
Rim jobs too? Dayum!!!
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u/Icy-Inspection-2971 15h ago
But if I never work again, I have plenty of time to think of creative options.
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u/crissthefrog 15h ago
Living off dividends and doing charity work sporadically for the rest of life? Sign me up.
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u/tinyhorsesinmytea 15h ago
Yeah. That's more money than I'll make working the next 25 years... more than enough to live very comfortably and happily.
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u/Icy-Inspection-2971 15h ago edited 15h ago
Yes. Why? So I could stop working. I’d take what I needed to survive for a couple of months, then set up some investments to keep it growing. I’m not under the illusion that $2 mill would have me in a life of luxury, but I think I could maintain my current lifestyle with opportunities for upgrades if I play my cards right with the investments.
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u/Suspicious-Weird-750 15h ago
Does that mean you can never work for profit again or just never have a full time position?
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u/Existential_Chilean 15h ago
Yes, even at 32 I could take my salary out and invest the rest. Gonna be fine moving forward.
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u/Prestigious-Bike-593 15h ago
Hell yes. I'd be set for the 30 years.
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u/Narren_C 15h ago
That's $66k a year, which won't be increasing with inflation. And then what happens if you're still alive after 30 years?
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u/CCCmonster 15h ago
Sure, and then I would move to a legal jurisdiction that doesn’t honor where I was from and then continue working
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u/ReallySmartInEnglish 15h ago
If I lived at my general minimum goal of $75k/year, I’d run out in 26 years. I’m 38, so I might actually die by the time I hit 64.
That said; the contract says I can’t hold a job; it says nothing about hiring an investment advisor to help stretch that money out.
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u/Automatic-Arm-532 15h ago
Depends. If the 2 million is upfront, I can just retire if I get tired of the job
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u/Kittii_Kat 15h ago
100% yes.
Would be enough to pay off my debts, then I'd move to a 3rd world country where the remaining money would allow me to live very well for the rest of my life.
(Likely just from the interest I'd get from it)
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u/Cultural_Praline_499 15h ago
Tax free? I’d have to do the math but maybe. If I made my net worth liquid and stacked it on top, a perpetual 4% draw might work if it could then also keep up with inflation.
Taxed? Nope.
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u/sowhat4 15h ago
Damn right. Been retired for almost 30 years now, and, if I do say so myself, I'm getting fucking good at it. Have learned to sleep in, procrastinate, relax, and not give a fuck. I can and will be successfully retired for the rest of my life.
(PS- I would eat cat food under a bridge before I'd ever go back into a classroom again - my former occupation)
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u/Then_Particular1931 15h ago
People bitch about Trump and our economy but can’t live off 2 million. You got bigger problems than Trump and the economy.
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u/Old_Fart_on_pogie 15h ago
Yup.
I’m 4 years (and 12 days) from retirement. So 2million would hold me over until i’m ready to collect my pension.
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u/Then_Particular1931 15h ago
Another question.
How many people would take 2 million to actually get a job.
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u/IcyConsideration7062 15h ago
In a heartbeat. I'm retired and don't have that much in savings. That might be enough to take me to death.
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u/Penis_Bees 15h ago
Assuming I magically am prevented from breaking the prohibition, then I think no. It's not an easy no, but I think that's where I land.
I wouldn't want to retire right away. I like my career and I want to continue experiencing it for a bit.
Plus I want to take care of my mom in her old age soon and I don't think the 80k from 4% interest is going to be very comfortable three people until I hit retirement age and can start pulling from the principle. We would have to pretty frugally towards the end and what's the point in all the extra free time if I can't afford to do much with it?
I'll earn 2 million several years before retirement then after retirement I'll get a pension, social security, and a few retirement accounts.
This seems to make continuing to work feel like the better choice. If I was 15 years from retirement then it would be a very hard choice.
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u/Complete-Bumblebee-5 15h ago
No
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u/donkey_OT 15h ago
Bullshit
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u/Complete-Bumblebee-5 15h ago
2 mil may sound like a lot but can dissappear awfully fast. If that's gone and I can never work again, I'm up shit creek without a paddle eh?
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u/wjdoyle88 15h ago
Brother 80k per year does not cover as much as you think. Car payments, health care, dental, vision, food , house etc.
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u/egnards 15h ago
$2,000,000 just really isn't even that much money if you're thinking about it being a lifetime thing.
I'm 39, at the average male life expectancy that means I'd be take home about $54,000/yr to use towards bills - I'm assuming my wife can still work, which is nice, but in order to just live our middle class life I'd be drawing down that money way faster than I could possibly make money on that investment.
That doesn't even include the fact that our health insurance costs will go significantly up [my job has amazing insurance at a very cheap rate, whereas my wife's is like 10x the cost of mine with far more restrictions and coverage limitations],
Even if I made it to "retirement age" and my wife retired. . .We'd have limited savings from having to subsist on 1 income + savings for all of that time.
If someone just handed me $2,000,000 no strings attached? That's life changing money - Just being able to work for 10 more years would nearly double that [modestly at 7%] and reduce the draw down I'd need to worry about pretty significantly - It would allow for so damn much to be done in my life.
But with a work based string attached? It would be a curse unless I were already terminally ill or much older.
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u/Narren_C 15h ago
I absolutely would not. I make over $100k a year, and that number is only going to go up. I'll also retire with a pension. $2 million is not nearly enough for the rest of my life.
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u/BlotMutt 15h ago
Not a chance, I need a million to retire at 65, and even then I'll be bored as hell. I'm in my early 30s, if I save one million just to last me till retirement, I'd have less than what I make now. No deal.
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u/cakebythejake 15h ago
I swear I’m going to hide AskReddit at this point with questions like this