Quit your job right now Like right this minute, and why?!
Probably. I would be out of debt and would have money for my daughter's college, and I would still have professional purpose -- I would simply be writing my own stuff during the day instead of writing for someone else.
I would continue in my job as it provides me intellectual challenge and an outlet for technical creativity, but on a part time basis to give opportunity to pursue my own interests and passions.
I definitely would. The people I work for like to give 1 person the work of 3 or 4 people to avoid paying more salary. I’d leave for a fraction of that.
I can't quit. I'm retired.
@GreatHornedOwl you wouldn't quit retirement for that much money?
Yes please and thank you!
I’d like to give 6 months notice. Wrap up the work I’m doing for my current clients but stop taking on more. Maybe help train my replacement. But if the $2M were conditional on my immediate resignation, sure. No problem. I could do enough good with that kind of money to alleviate my feelings of guilt over not showing up for court tomorrow.
In a heartbeat! But I would want to channel my energy and resources into making this a more equitable career for those that come behind me.
And with that kind of money and the knowledge I have I could make it happen.
Yes, I’d bounce! Pay off my bills, set my kids up for college, & put the rest in crypto! To the moon!!! 🚀 🚀🚀🚀🚀
No. I'm about to get promoted and success is great for my self esteem.
Of course. And if I got bored, I could volunteer for as much or as little time as I'd want.
COVID already made me quit.
Does it mean I can’t ever do it again? Then I may have to pass because I don’t want to quit, I just am figuring out how to continue practicing going forward. I love what I do too much to agree to give it up.
2 mil is pretty defenseless against inflation, taxes, & surprise expenses, etc. Especially, if one decides to upgrade their lifestyle, the expenses will rise as well. According to Grant Cardone, the 10X guy, 10 mil is a 'safe' number for retirement in relaxation. Mathematically, I agree with him.
I am pursuing a graduate degree right now which I wouldn't quit because I want to overcome the challenge of getting it.
If the $2M is conditional upon my immediate quitting, then I will quit, get the $2M, and then start over!
If the condition is that I must quit my (self-employed) job, then yes I would, and then I will do the following:
After paying over 45% in income taxes at the highest bracket for both Federal and State combined, I will be left with $1,100,000 to spend as I wish.
I would buy a house at a nice rural location for about $200,000, now I have $900,000 left
I would leave $250,000 in my checking account that I would use to pay for utilities, food, other bills, that fund would be my reserve money, that would be the "I screwed up everything else, made bad investment choices and lost all that money, but I still got $250k in my bank account as a buffer to keep me afloat until I get a good job or figure out how am I going to make money now" - fund. Now I have $750,000 left
I would use $25,000 to get solar panels (Poly Crystalline), good inverter (True Sine Wave), sufficient batteries of type Lithium Titanate that can last 25+ years in optimal performance at 80 to 90% charge/discharge margin to store 50+ kilowatts of energy per day to counteract inflation and be 100% off the grid. Now I have $725,000 left of unallocated funds.
I would set aside $125,000 in another bank account as funds to buy a car, electronics for my house, and other misc expenses. Now I have $600,000 left.
I will use $300,000 to invest in a good number of promising criptocurrencies in a diversified way, such as: Solana (SOL), Cardano (ADA), Bitcoin Cash (BCH), and Ethereum (ETH) to give a brief example.
Finally, I will use the final $300,000 to invest in stocks on Charles Schwab and promising IPO's on Robinhood. This will also be diversified after doing extensive research.
If my investment decisions pans out, then I could stand to make millions in ROI, I would surely be set for life. BUT if my investment decisions turns out to be terrible and crypto crashes epically along with my IPO's and stocks that I lose almost the $600k invested, I would still have my house paid in full, $250k (or close to) in bank #1 and $125k (or close to) in bank #2, that amount would not be an amount that would keep me from working, I would surely need to find a job to maintain those savings and cash reserves - I would restart my self-employed business and start doing CCTV installations wherever I happen to be living at that time.
Okay, so this is my story of what I would do if I am offered $2 million dollars if I quit my job.
Nope
Im one of those weirdos who LOVES the work I do. Though I think I would be a LOT less stressed if I had 2mil in the bank. I would be more direct in meetings and stuff without that worry about what happens if I get fired.
I would also however take a lot more unpaid leave and travel.
That’s a tough one, I do love my job but not having to worry about money would be really nice. Since I’m still in my 20s two million would not be enough for me to retire on. I would have to immediately start building a real estate portfolio and make sure I had enough rental properties to sustain me even if I had repairs and or vacancies some months. I would probably go deeper into debt taking out multiple hard loans and buying as many properties as possible. It would probably take me several years to get enough properties where I could really relax and just have a property manager oversee everything. So I would essentially be giving up my job as a professional cuddler and trading it in for a job as a real estate investor/ project manager. I probably wouldn’t enjoy the work as much as Cuddling but knowing that my bills would be paid for the rest of my life and I don’t ever have to worry about money is probably worth it.
I would quit, keep my same lifestyle, and indulge in artistic pursuits that interest and delight me. If they end up making money great! But I wouldn’t pick what I do based on what would be finically successful; just things that would make me happy.
How ironic - I was thinking about this topic this morning! I passed by a billboard for the lottery this morning, and I couldn’t help but daydream about I would do if I won. Yes, I definitely would quit my job. I’ve been working ever since I was old enough to work, and I would love to be in a position where I didn’t have to work to live anymore.
After taking care of family and some close friends, I would travel around the world. Eventually, I would like to live overseas. Ideally I would live in a country where I would be able to live well on just my savings.
I love my job too much to leave it for 2 mil. Add another zero to it and I'd probably do it though.
I would quit my job and vanish from society
@Morpheus that reminds me of this:
I wasn't going to look in the forums today, but this one was too good to not read. I laughed out loud at some of the funny answers. My initial question/clarification would be if the $2m were before taxes. That makes a huge difference, depending on your age/timeline. With a Net $2m, you could easily earn a minimum of $125k/year in interest without touching the principal amount. Depending on your cost of living/current finances, that is a comfortable salary in the U.S.. Overall - yes, take the windfall of cash - save it wisely. If I could live comfortably off the interest-alone (including dividends, etc), then I would strictly pursue hobbies and interest that I enjoy most without the worry of income to pursue them. Either way, it's important to stay mentally and physically active..... and happy.
@Tranquilescape - I completely understand - I do the work of about 12 people. @Gabriel2k - lol - great reply. @Francisco108 - wow - you've definitely given this some thought and have it planned in detail. @ShaneMTB - I have similar thoughts.
For $2 million I would immediately announce I am quitting in 3 months but I would not walk off my job before then. I have responsibilities to the people I serve and I would not intentionally abandon them on such short notice, even for $2 million.
Definitely, that alone could replace my job for a few decades, even if I didn’t get another one. Add on that I’m looking at moving back towards home sometime this year and it is a no brainer. Especially if it is 2,000,000 million (2 million millions) and not just 2 million. Although actually, if it the latter, maybe not. 2 million million seems like a good way to get kidnapped for ransom or some such.
For two trillion dollars, the amount specified, you could buy Home Depot. And McDonalds. As well as Nike, Walmart, Coca-cola and Walmart.
Or to put it another way, that's the size of the economy of Canada.
Or you could simply give a million dollars to every single person in New Mexico.
@nature700 how on earth could you obtain an interest amount of $125,000? That's a rate of 6.25%. Deposit rates in dollars are under 1% at the moment. The dividend yield of the Dow is around 1.7%. Yes you can go after higher rate investments but that's not easy and involves more risk. You also have to reinvest something to maintain the real value of the principal. Wage inflation was around 3.5% before the pandemic sent it through the roof. In other words ordinary investments, even with full pre-tax return reinvested, do not maintain the value of investment.
You could in theory retire on two million dollars, but if you're under about 50 years old you'd have to be very careful and your standard of living would be very modest.
@Francisco108 I like that plan. Very thoughtful. I would say though, that investing half of your investment funds in one sector is risky. Better putting some in stamps, some in art, some in emerging markets, etc.
@Sariaz nah, that amount is not going to get you kidnapped. It's too much. Any kidnapper smart enough to succeed is smart enough to know that his life expectancy would become very short, what with every retired special forces solder and detective on the planet hunting him down.
I didn’t read / notice the possible typo. But 2 (million million) dollars = 2 trillion dollars, if I remember that right. Basically, that’s five percent of all the cash in existence. I don’t think I could justify giving my boss six months notice with that kind of wealth.
If I win I’ll just keep my job & donate the $2 million dollars to covid research.
🤣🤣🤣🤣🤣
lol