[10122018]

I feel disheartened that you read my entire comment and chose to focus on one number and the ineptitude of my hypothetical investment strategy instead of focusing on the overall point I was trying (and I guess failing) to make. I regret saying anything at all.

For the record, thousands of Australian university students live on less than US$10K per year. You seem to think we can't exist, but we do.

> No way you could afford that dental work after you pay rent on that.

And thanks, that is very helpful of you to remind me.

[rgbrenner]

The number says "a comfortable life". University life is not the entirety of a persons life. And these numbers are for the US anyway, where university isn't free, and that alone would cost you more than $10k/year... in fact, far more than $10k/year.

I think you need to revisit this in 10 or 20 years. I think you'll have a different opinion on this number.

$10k is not comfortable. That is poverty. And the question wasn't what is possible to survive on.

[10122018]

Nowhere have I said that $10K per year is comfortable. I have a dentist appointment tomorrow that I don't yet know how I am going to pay for. I can't remember the last time I got a Christmas or birthday present, or the last time I went on a holiday. It sucks, but there are people worse off than me. And there are three orders of magnitude between $10K and $10M. If anyone thinks they need $10M to feel secure and comfortable, than I honestly feel sorry for them. I think that's the kind of insecurity that would be very difficult to escape. Probably even harder to escape than poverty.

Again, I apologise if my comment/s seem impolite. I am not having a great day, but I don't mean to come across as disrespectful. I understand that I live in a different world to many of the people here on HN. I also think we may be talking past each other a little bit, using different definitions of "comfortable". I think it's possible that I don't know what comfortable is supposed to feel like, at least not the way most people here seem to be using the word. To me, comfortable is just having a loaf of bread in the cupboard, a roof over my head and a healthy body. I feel like that is all I need, and that's the point I was originally trying to make.

[jamesb93]

Similar situation here. I live on 7000 GBP p/a and any other income I can find elsewhere which isn't guaranteed. There was a post on Reddit personal finance sub the other day asking for advice on whether they should leave their 320k USD p/a job for a 325k GBP p/a job as an entry level analyst for a hedge fund. Most people just have no idea what it actually is to live close to poverty and so 10 million is easy to come by as a figure for where you're comfortable. To be honest it makes sick. That said I'm the happiest I've ever been and enjoy being a PhD student. You learn s lot by the constraint of minimal income such as how to cook good food and enjoy life without materialism. Not that I was that way before I started my current programme.

[hueving]

FFS that $10m figure isn't about being comfortable. It's about never having to work again and never having to be concerned about paying for things in an upper middle class lifestyle.

You might be happy as a PhD student, but your housing and life is entirely dependent on the university. You are one academic violation away from that all being in jeopardy.

What happens if you get a spouse and child? Will your current housing and savings be enough to support them and yourself if you both decide you want to stay with the baby instead of working?

What if your government passes legislation that costs you your job, your housing, or your healthcare?

The $10m money is about not worrying about anything other than global economic collapse and/or massive wars.

"Not worrying about money again" means never again. Not just while you manage to hold down a job.

[kaybe]

Y'know, that's what I like about the European social security systems (not all of them of course, but some). It's just that, security. You can be sure you will have healthcare, you will have housing and you will have food, and so will all your dependents. (Ah and of course you will have to fill out a lot of papers and they will bug you to find a job, and your level of living will be at university student level, but still.)

I really like the peace of mind that gives me and everyone, even if that means I have to pay more taxes.

[hueving]

>It's just that, security. You can be sure you will have healthcare, you will have housing and you will have food, and so will all your dependents.

That's certainly better security, but it's still nowhere near the level I'm talking about. You're still having to concern yourself with money for things like smartphones, entertainment, holidays, etc. and you're one government crisis away from austerity taking a big chunk of that away. Also, keep in mind that there are still people alive who witnessed WW2. You can't take the stability of your country as a given.

The $10m number puts you in the position to even diversify away risks to your home country.

[murukesh_s]

Agreed. I think it's a very good to have a social security to back you. In place where I live very few percentage of people who go for govt. jobs are lucky to get pension directly from the govt., which is always adjusted for inflation so you can have a comfortable life. People outside of that social security are constantly worried and in pursuit of having a decent retirement income option. Wish a system like in Europe becomes a norm in other parts of the world too, though sometimes I feel it can make people lazy, but why are we working so hard for anyways!.

[Applejinx]

Normalizing this need to execute wealth-hoarding as a 'normal life' directly CREATES global economic collapse and massive wars.

[thedufer]

> there are three orders of magnitude between $10K and $10M

Sure, but you're comparing apples and oranges. Almost 2 of those orders of magnitude disappear when you change $10M of assets into a few hundred thousand dollars of annual income.

A lot of the rest goes away when you notice that not worrying about finances "ever again" includes an awful lot of expensive things you don't pay for day-to-day or even year-to-year, such as the dental work you're putting off.