Would you stop riding for the rest of your life if someone gave you $500,000 cash?

[Sirref]

lol 40k/year for an art school

that's just like taking candy from a baby barista

[ninjamunky85]

Haha yeah, and their rich parents. The majority of students that start there don't even graduate from there, they either drop out or transfer.

[SonOfTheFonz]

Im a Business Management Major with a Concentration in Human Resources aka im gonna make some damn good money some day, so i consider my debt worth it.

(I picked my major based off of salary)

"**** doing what you love, you go to work to make money not have a good time" - My Dad

[ninjamunky85]

Mechanical Engineering here, hoping I don't have to move to Thailand to find a job, lol.

[antiant]

Money isn't everything, but to each their own.
@ninjamunky85 - Hey at least you will be going to a country that has more bikes than cars, lol!

[Sirref]

"Money isn't everything if you have enough of it but it's pretty goddamned important if you don't." - my grandfather in response to me saying that money isn't everything.

The man is a WWII fighter pilot turned businessman, he owned several pieces of valuable real estate and had a good stock portfolio. Even though he lost millions when the stock market crashed a bit in '07 or '08 he's still got enough to live out the rest of his days in comfort in the home he designed while still beating me in golf games
@ninjamunky85 Ending up in Thailand isn't that bad, looks beautiful from M13's videos on youtube.

[ninjamunky85]

Originally Posted by antiant

Money isn't everything, but to each their own.
@ninjamunky85 - Hey at least you will be going to a country that has more bikes than cars, lol!

Originally Posted by Sirref

@ninjamunky85 Ending up in Thailand isn't that bad, looks beautiful from M13's videos on youtube.

Haha, honestly I wouldn't mind spending some time outside of the U.S.

Plus you know,.. Asian girls.

[antiant]

Yeah, ditto @ living outside the US. That may be a possibility for me in the distant future, who knows.

[Sirref]

If I were to leave the US I'd prefer to live in europe somewhere, probably england/spain and between those two spain seems like the better bet. I'd love the laid back lifestyle that europeans enjoy compared to americans. Taking several months out a year for vacation is unheard of around here if you aren't a teacher.

[dfox]

Originally Posted by akima

Are you in marketing?!

lol.

no... but $500,000 is plenty to get me easily started doing something else with my life. Invest in my future. $500,000 would not be "spent" on a new car, bike, house, etc. it would be invested in a new way of life. Start a company, buy an inn, etc.

[antiant]

Yep, although not sure about Europe. Europe is expensive. America works too much because they want to be first in everything, while risking their health, among other things. I also love the more laid back lifestyle of other countries, the vacation time/benefits, etc. The views are more worldly too.

[rasta]

Originally Posted by SonOfTheFonz

Im a Business Management Major with a Concentration in Human Resources aka im gonna make some damn good money some day, so i consider my debt worth it.

(I picked my major based off of salary)

"**** doing what you love, you go to work to make money not have a good time" - My Dad

Just a piece of advice, nobody in an office likes HR people. So prepare to be left out of all the fun conversations

[ninjamunky85]

Maybe I'll move to Phuket, or Bangkok.

[Sirref]

Europe may be expensive but for the most part the lifestyle difference can make it worth it. Sure you sacrifice the material wealth that is enjoyed in america but you can still make a good living and not worry about sacrificing your health for material objects that you don't even need. Not to mention there are some beautiful places in europe (just like there are beautiful places in north america)

[antiant]

Material wealth is one thing, but I was speaking more so on expensive property, cost of living, etc. It's quite astronomical in comparison to countries like Mexico or south of the border, for example.

[Sirref]

But in mexico you have to deal with the 3 cartels. I personally consider europe to be a great place to live, yes everything costs more but it's not the end of the world. You can still reasonably afford a good home. Heck copenhagen isn't that bad since everyone rides bicycles, it would definitely be a nice place to live for that reason alone. There are tons of similar places. The tax difference is probably what you'd feel most but you get more from those taxes (allegedly)

[antiant]

Not really @ cartels, some of that is hyped up in the media. It also depends on the area. I've been to Mexico a few times. Property is cheap and your money stretches a lot longer. Properties in Europe, depending on location of course, can go either way too. In some cases, you're lucky you get something like New York, a tiny studio of about 400 sq. feet and worth about 300k+. Crazy. You also have South American countries too, with prime real estate. There's also the Caribbean, but the only thing with that is the hurricane corridor. Cool thing about Europe is you can go to many different countries, within a day too, which I find awesome.

[Sirref]

Luckily I'm not a fan of the idea of living in the city. Rural areas tend to have better deals on property and such. I figure investing in a solid property area then building your own home is the ideal but obviously that can get pricey pretty quickly.

[antiant]

We're of the same opinion. That is one of my goals/dreams, actually. Buy land > build home. If you look into "green" type of technologies, you can even live off the grid or make it so, that you have no mortgage. There's all kinds of options out there, I've done a lot of research. I've also seen it be done. Also, with rural areas/property you have more freedom, to do whatever the hell you want.

[Dredgshadow]

Absolutely not. I would go in debt for 500 grand to be able to still ride.

[Sirref]

Yea, When I have enough saved up for a sizeable down payment (i.e. purchase land outright and then put down payment on house to be built) is when I intend to start really looking into creating my dream house. I'm thinking something on top of a hill so I can make the basement into a bunker styled garage and the attic into a skygazing area/area to enjoy the view, It's going to be so badass ...someday

[antiant]

Definitely no loans on land, save for it, then you can "sit" on it, while saving a little more for the house. I'm iffy on having down payment with a home. I would never want to be locked into a mortgage, if I could help it, or at least pay that thing off in 10 years (30/40 year loans scare me). When you're locked into a mortgage, you're locked into your job, your time is limited, etc. If you have no mortgage, you don't have to work as much, so it free's you up with time and pursuing the things you actually want to do, instead of a job getting in the way of your time. You could easily build a house for 10 - 100k, but of course it all depends on your needs/wants/desires. Takes a lot of research and careful planning, but it's doable.

[Sirref]

I figure I can build my dream home w/land included for under 500k

I don't mind a mortgage that's 20 years or less since I wouldn't really intend to go anywhere if it's my dream home. The interest would likely motivate me to try to pay it off quicker.

[akima]

Originally Posted by Sirref

Yea, When I have enough saved up for a sizeable down payment (i.e. purchase land outright and then put down payment on house to be built) is when I intend to start really looking into creating my dream house. I'm thinking something on top of a hill so I can make the basement into a bunker styled garage and the attic into a skygazing area/area to enjoy the view, It's going to be so badass ...someday

basement into a bunker... ... batcave!

(I like your dream house. Please make 2 so I can have one. Mine needs to be 1/20th scale.)

[Sirref]

Originally Posted by akima

basement into a bunker... ... batcave!

(I like your dream house. Please make 2 so I can have one. Mine needs to be 1/20th scale.)

http://www.udreplicas.com/products/t...ycle-suit.html

bwahahahaha, you've seen through my comic book inspired genius!

seriously though I want an awesome house and I believe that I am capable of attaining that someday, got the plan in place and everything just need a degree for a job that provides reasonable cash flow to start investing with.

[akima]

Originally Posted by Sirref

http://www.udreplicas.com/products/t...ycle-suit.html

bwahahahaha, you've seen through my comic book inspired genius!

seriously though I want an awesome house and I believe that I am capable of attaining that someday, got the plan in place and everything just need a degree for a job that provides reasonable cash flow to start investing with.

I hope you achieve your dream. I want to live off the grid too. I like the security of it - the supercorps can raise their utility prices, the big banks can steal and the governments can mess up the economy all they want, but I can remain relaxed and relatively unaffected in my little self-supporting abode!

[Sirref]

advances in geothermal and other alternative energy sources across the next few decades will just make everything more convenient.

[Ninja Bob]

Originally Posted by akima

I hope you achieve your dream. I want to live off the grid too. I like the security of it - the supercorps can raise their utility prices, the big banks can steal and the governments can mess up the economy all they want, but I can remain relaxed and relatively unaffected in my little self-supporting abode!

Originally Posted by Sirref

advances in geothermal and other alternative energy sources across the next few decades will just make everything more convenient.

Oh ****. This conversation! I was actually thinking about this when I first saw the thread. I'd just use the money to get closer to an ideal sustainable lifestyle.

But where would I get my thrills? Probably base jumping in a wing suit.

[Sirref]

Originally Posted by Ninja Bob

But where would I get my thrills? Probably base jumping in a wing suit through a waterfall.

FTFY

[Ninja Bob]

Originally Posted by Sirref

FTFY

Thanks buddy. Owe ya one.

[Sirref]

'twas my pleasure

[subxero]

$500k would be enough for me to get set up in a nice place with some land, get set up to live off the grid with solar and geothermal and still have a good bit left over. I have enough other hobbies and interests other than riding motorcycles that i could keep myself busy with... but it would definitely be missed.

[CC Cowboy]

Originally Posted by akima

You've spent over a million dollars on motorcycles?

Not just on bikes but on motorcycling (bikes, gear, traveling, and 10 years of racing).

[250rr]

Originally Posted by rasta

True that. 500k for someone over 60 is quite a bit different than someone 24

Very true in the short term. But, if the 24 year old invested the $500k into a mutual fund that averages 6% net return long term, and (this is crucial) didn't spend a dime of the $500k until he or she retires, here is what it would look like in:

10 years: $895k
20 years: $1.6 million
30 years: $2.9 million
40 years: $5.1 million

So, the 24 year old has far more dollars to lose by not taking the initial $500k.

[EternalNewb]

^This. Yes. But I love riding, leading me to my previous conclusion.

[Ninja Bob]

Originally Posted by 250rr

Very true in the short term. But, if the 24 year old invested the $500k into a mutual fund that averages 6% net return long term, and (this is crucial) didn't spend a dime of the $500k until he or she retires, here is what it would look like in:

10 years: $895k
20 years: $1.6 million
30 years: $2.9 million
40 years: $5.1 million

So, the 24 year old has far more dollars to lose by not taking the initial $500k.

All that money out of the economy. For decades. And then they give you more for keeping it out of the economy. It doesn't make sense. This would be considered hoarding if it were anything else.

[Alex]

Originally Posted by 250rr

Very true in the short term. But, if the 24 year old invested the $500k into a mutual fund that averages 6% net return long term, and (this is crucial) didn't spend a dime of the $500k until he or she retires, here is what it would look like in:

10 years: $895k
20 years: $1.6 million
30 years: $2.9 million
40 years: $5.1 million

So, the 24 year old has far more dollars to lose by not taking the initial $500k.

Mathematically true, but misleading. That same compound interest formula needs to be applied against the inflation rate.

http://inflationdata.com/Inflation/I...eInflation.asp

500k now doesn't turn into 10 times its worth in 40 years. It's more like 2 to 3 times its worth depending on what inflation (and investment) rates one makes as assumptions.

It's still a fantastic idea to invest early and invest wisely, just not quite as drastic as we try and sometimes tell ourselves.

[Alex]

Originally Posted by Ninja Bob

All that money out of the economy. For decades. And then they give you more for keeping it out of the economy. It doesn't make sense. This would be considered hoarding if it were anything else.

Pretty much the opposite of this. Where do you think the money is going when you invest in mutual funds? That fund is used to purchase stocks, bonds, and other financial instruments, which are primarily used by companies to function in that same economy.

[Ninja Bob]

Originally Posted by Alex

Pretty much the opposite of this. Where do you think the money is going when you invest in mutual funds? That fund is used to purchase stocks, bonds, and other financial instruments, which are primarily used by companies to function in that same economy.

Well I guess now it makes more sense.

[konigralph]

Give me the money! I'll buy myself a house and a GT-R!