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May 2011
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Ys [userpic]
Friday Five

Hardly ever do these, but I liked this one.

1. How much money is in your wallet right now?

Hrm. I think I actually have a couple of dollars right this second. Usually I don't have any cash on me, though, because it's too easy for me to spend. I've been doing that long enough that I've gotten out of the habit of even thinking about whether I have cash in my wallet or not. So to my brain, I have no cash in my wallet.

On checking, I appear to have $8.

2. How much money would you need in the bank to feel secure? Rich?

Secure? Um. Enough that I don't worry about where my next meal is coming from. That can be pretty little (or none, if I happen to be in a situation where I know someone else is taking care of that). I don't fret much about money, to the immense distress of both of my spouses sometimes.

Rich? IIRC last I calculated it, it was around $2.5 million. That's enough that you can get ~$100,000/yr indefinitely off reasonable earning assumptions. The point at which I can get that without having to actively work for it is where I cross over from 'comfortable' into 'rich' in my head.

3. If someone gave you $100, no strings attached, what would you do with it?

Drop it in my "allowance" account to be spent on nominally frivolous stuff I don't have to justify to anyone. And then, at some point, spend it on nominally frivolous stuff. (Most recent purchases from allowance money: part of my birthday present (it was expensive), Nintendo DS games, Nintendo DS. A digital SLR is in the 'to buy at some point' list from that account.)

4. If someone gave you $1 Million, no strings attached, what would you do with it?

Call my financial advisor and ask him how to appropriately deal with it/manage it. I suspect we might do some mortgage shuffling (though I don't think we'd pay it off outright, but we might). Some amount would go to "fun" stuff because he understands the need for and encourages his clients to use at least some amount of money for such things. The bulk of it would go into whatever forms of investment he talked us into, though.

5. How much does something have to cost before it starts counting as "real" money, as a purchase to be considered and evaluated, but below which you'll buy without really thinking about it?

Hrm. If it's for the household or for someone else, about $100. If it's specifically a gift, about $500. If it's for me, about $5.

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