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What to do with a million $ worth of xrp?

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On 12/26/2017 at 5:16 AM, teddybear said:

2x times median household income in the area you live for Mr @RegalChicken is my assumption.

Not "how young is too young?". 

Avg local life expectancy minus current age times above dollar terms number.

And that's only if you wanna consume cash instead of invest it. If you wanna live off dividends you multiply that 2x household income times 40= That corresponds to roughly 3% after tax net income.

Biiig numbers needed. 20$million and more.

And you gotta know how to invest or at least whom to trust.

So I'm trying to revisit this clearly and do the maff.

Please help me understand your process. I'm more of the visual learner in terms of maff. I'm going to follow the equations you laid out and fill with numbers.

Part 1
x=(80 - 28)(2 * 80,000)
x= 8,320,000

Part 2 - Dividends
x=(2 * 80,000)(40)
x= 6,400,000

And this is assuming you're going to live comfortably and not got crazy buying high-end hookers and kilos of coke.

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3 minutes ago, MilNoslen said:

So I'm trying to revisit this clearly and do the maff.

Please help me understand your process. I'm more of the visual learner in terms of maff. I'm going to follow the equations you laid out and fill with numbers.

Part 1
x=(80 - 28)(2 * 80,000)
x= 8,320,000

Part 2 - Dividends
x=(2 * 80,000)(40)
x= 6,400,000

And this is assuming you're going to live comfortably and not got crazy buying high-end hookers and kilos of coke.

Yup. Either you burn down 8.32 mio

Or

You live off the dividends a 6,4million principal produces (at a 3% p.a. rate).

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2 minutes ago, teddybear said:

Yup. Either you burn down 8.32 mio

Or

You live off the dividends a 6,4million principal produces (at a 3% p.a. rate).

Thanks, friend! I'm learning something new everyday!

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2 minutes ago, teddybear said:

It's actually common sense ;)

Unfortunately, for someone that has no experience with any of the financial aspects this is all new. Still trying to figure out when would be a could time to cash out and how much I would need to live off of it. I still have to catch up on tax regulations for crypto.

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Set a Safe Withdrawal Rate (https://www.madfientist.com/safe-withdrawal-rate/), quit my IT job and go to med school. With the hybrid skill of being a doctor and a technologist, change the world for the better. 

Unless I get to jump on a Ripple integration project... I would complete one of those and go to med school after ;)

Edited by rippler_2

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1 million?

I'd invest about 250k, buy a few smaller houses to rent them out (250k), pay off all debt including mortgage (300k), and with the remaining portion mix of vacationing somewhere, savings, paying off parents mortgage, charity, and another BMW.

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33 minutes ago, rippler_2 said:

Set a Safe Withdrawal Rate (https://www.madfientist.com/safe-withdrawal-rate/), quit my IT job and go to med school. With the hybrid skill of being a doctor and a technologist, change the world for the better. 

Unless I get to jump on a Ripple integration project... I would complete one of those and go to med school after ;)

That was a great article. Thx. 

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I would go back to Uni and undertake a masters (always wanted to do one) and I'd like to learn how to program also, and buy my mum a house.

Leave everything else in the XRP, now I am involved I couldnt sell it all as I would miss the drama of it all lol! :D

 

 

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