What would you do if you won a million dollars

[Canadianpilot2024]

Would you still work at AC?

[JustaCanadian]

Sir its 2025.

You still "have to" work, as by the time you retire a million dollars might only buy you a beige corolla.

[Man_in_the_sky]

Invest it, and keep working.

[lownslow]

“I’ll tell you what I’d do…”

[rudder]

Make a down payment on a house in YYZ or YVR.

[RoAF-Mig21]

“I’ll tell you what I’d do…”

HAHAHA! EXACTLY!

[altiplano]

I need 5 million to walk.

With only a million I would probably just bid triple FO and ride it out until I couldn't take it anymore... I would certainly look to go early.

[khedrei]

I need 5 million to walk.

With only a million I would probably just bid triple FO and ride it out until I couldn't take it anymore... I would certainly look to go early.

5 million?

First, how old are you?

Second, what kind of extravagant lifestyle are you planning to live in retirement to need 5 million plus what you've already got saved?

[Inverted2]

A million is @#$! all these days. Won’t buy you a nice detached house in or near a large city.

5 million I’d consider it or for sure retire extra early.

[cdnavater]

A million is @#$! all these days. Won’t buy you a nice detached house in or near a large city.

5 million I’d consider it or for sure retire extra early.

I think pretty much anyone could retire with 5 million, with a modest 4% return you could draw 17,000/month and it would last 84 years, 6% target on returns you could draw 24,000/month forever.
Now with only a million, yes that’s not much these days, with 6% return you can draw 5000/month for 62 years before it runs out.

[digits_]

As a point of reference, one million dollars is about the life earnings of a full time minimum wage earner.

[ant_321]

That would hardly cover most younger captain’s mortgages in YYZ or YVR.

[cdnavater]

As a point of reference, one million dollars is about the life earnings of a full time minimum wage earner.

What’s your point!
My daughter came home from university one day and said the NDP came around campaigning, they said they were going to raise the minimum wages if they got in so she was going to vote NDP.
I asked her if she planned on making minimum wage after 5 years of university, the answer was No! So I asked why the he’ll do you care what the minimum wage is then!
People working for minimum wages are either uneducated or not using their education but either way, they aren’t retiring on a million either unless they are 70 already!

[digits_]

As a point of reference, one million dollars is about the life earnings of a full time minimum wage earner.

What’s your point!
My daughter came home from university one day and said the NDP came around campaigning, they said they were going to raise the minimum wages if they got in so she was going to vote NDP.
I asked her if she planned on making minimum wage after 5 years of university, the answer was No! So I asked why the he’ll do you care what the minimum wage is then!
People working for minimum wages are either uneducated or not using their education but either way, they aren’t retiring on a million either unless they are 70 already!

I find it interesting that some would require 5 times the life earnings of a minimum wage earner just to cover their retirement spendings. But hey, if that's what you can get or what you want or need, by all means, go ahead. I'd be more on the side of spending less so I can work less. You're not guaranteed to make it to retirement, let alone enjoy it for many years.

Your post is also an example of the lack of empathy that often creeps into topics like these. I for one would hope that someone (in general, not aimed at you specifically cdnavater) who says they can't retire on 1 or 5 million dollars, or calling 1 million dollars '@#$! all', would keep in mind that a big portion of the population makes just that in a lifetime, let alone have anything saved to retire on. So yeah, when policymakers knock on doors, perhaps tell them that you might want them to raise minimum wage. Uneducated or not, if you work a full time job all your life, and thus contribute to society, you deserve to be able to retire as well at some point.

[altiplano]

I need 5 million to walk.

With only a million I would probably just bid triple FO and ride it out until I couldn't take it anymore... I would certainly look to go early.

5 million?

First, how old are you?

Second, what kind of extravagant lifestyle are you planning to live in retirement to need 5 million plus what you've already got saved?

I'm not looking to drive a 15 year old Nissan, live in a basic apartment, and scratch by with a basic life. My buddy won a million in a scratch lotto ticket 20 years ago, bought a Honda and a small apartment and he just gets by... it won't take you very far.

I've got a million now and it's not enough.

Balance of career earnings going forward will be more than 5 million, hopefully more like 7 million, plus draw a 6 figure pension when I'm done for maybe 20 years or so. Maybe after tax all that will be about 5 million...

So 5 million today would be more valuable working for me going forward though. Would I go at 4 million? Maybe. 5 million is an easy choice though.

[altiplano]

As a point of reference, one million dollars is about the life earnings of a full time minimum wage earner.

What’s your point!
My daughter came home from university one day and said the NDP came around campaigning, they said they were going to raise the minimum wages if they got in so she was going to vote NDP.
I asked her if she planned on making minimum wage after 5 years of university, the answer was No! So I asked why the he’ll do you care what the minimum wage is then!
People working for minimum wages are either uneducated or not using their education but either way, they aren’t retiring on a million either unless they are 70 already!

I find it interesting that some would require 5 times the life earnings of a minimum wage earner just to cover their retirement spendings. But hey, if that's what you can get or what you want or need, by all means, go ahead. I'd be more on the side of spending less so I can work less. You're not guaranteed to make it to retirement, let alone enjoy it for many years.

Your post is also an example of the lack of empathy that often creeps into topics like these. I for one would hope that someone (in general, not aimed at you specifically cdnavater) who says they can't retire on 1 or 5 million dollars, or calling 1 million dollars '@#$! all', would keep in mind that a big portion of the population makes just that in a lifetime, let alone have anything saved to retire on. So yeah, when policymakers knock on doors, perhaps tell them that you might want them to raise minimum wage. Uneducated or not, if you work a full time job all your life, and thus contribute to society, you deserve to be able to retire as well at some point.

It's not just to retire though, there are still years to go before that age and this is the most productive earning period. There are things like mortgage payments still and university tuition to pay coming up, plus things that will support my lifestyle now and after retirement. And I want to lift my kid's life to be better than mine was too.

I'm not looking to stay longer than I need, but I'm not going to leave just to budget a basic life out. It has to include a good life that can support my pursuits and look after my family well.

[digits_]

It's not just to retire though, there are still years to go before that age

Good point, that does change things quite a bit.

[Donald]

I'll assume for most pilots that they'll start by giving half to their ex-wives, haha.

[CaptDukeNukem]

I'll assume for most pilots that they'll start by giving half to their ex-wives, haha.

The money you win AFTER divorce is yours to keep my friend!!!!

Lol

[cdnavater]

I'll assume for most pilots that they'll start by giving half to their ex-wives, haha.

The money you win AFTER divorce is yours to keep my friend!!!!

Lol

I asked my wife what she would do if we won the lottery, she said she would leave me and take half. I said we won 20 bucks in last nights draw, gave her 10 and showed her the door;)

[rookiepilot]

If you were happy without it, you’ll probably be happier with it, but the right answer what to do — as a measurement to life is….nothing much different.

If you’re not happy now, a million dollars fixes nothing at all.

[vanislepilot]

Porsche 911 Turbo/GT3

[CaptDukeNukem]

If you were happy without it, you’ll probably be happier with it, but the right answer what to do — as a measurement to life is….nothing much different.

If you’re not happy now, a million dollars fixes nothing at all.

A million dollars certainly fixes many things. It may not fix everything but it certainly helps.

[khedrei]

If you were happy without it, you’ll probably be happier with it, but the right answer what to do — as a measurement to life is….nothing much different.

If you’re not happy now, a million dollars fixes nothing at all.

I disagree with the wording.

If you arent happy and have no money and are struggling financially... ie new pilot, getting a million bucks could likely make you happy.

If you already have a million, and aren't happy as is, another million won't do much.

[rookiepilot]

Lets try this: (I doubt it takes, but what the heck)

If having 5 million dollars is important to you, its highly unlikely you will ever have 5 million dollars.

Contradiction, I know.