What I would do if I had even a sliver of wealth

Hazel Park MI

Description

Reading about how Elon Musk sold some stock thanks to a Twitter poll, and I thought about what I would do if I had even a tiny sliver of that wealth. Not what would I do, no, what I would do. This is what I would do: Say I had $100,000. What would I do with a hundred grand? I would take about 70% of it (depending on housing costs), look for a suitable house, buy that house, save the remaining percentage for any expenses I would need to rent out that house. (Taxes, license fees, repairs) and I would rent the house for a reasonable rate. Say I had $1 million. Just enough to make me a millionaire. What would I do then? Well, last I checked, the interest generated by $1 million is about $20,000 a year. So I would take 75% of that $1 million, put it in a bank account and leave it to generate interest. I would then take the remaining $250,000, buy a small house in a decent neighborhood, buy a decent used car, and live off the remainder while the $750k generated interest. Assuming 15k a year in generated interest, or about $280 a week, without having to worry about a monthly house payment, I could make it.