Well, I wouldn’t live in Detroit for my current salary because I would be raped by taxes and a lack of services, and I encourage anyone who makes any real money not to move to Detroit for that reason. On the other hand, $6 million replaces a lot of city services, and at the $6 million tax rate you’re going to get raped by taxes anywhere. In that case, Detroit proper, in the right spot, is a delightful place to live. Just, you know, make sure you stick to the right spots, which is good advice in any city.
I wouldn’t live where there’s sizable snowfall (more than 1/2”
) regardless of moolah. Health reasons.
At the risk of…reply-shitting (for lack of a better term?) I think most replies in this thread have been rhetorical.
I strongly suspect that 90-99% of the people who say “I refuse to live in Texas/Florida/Appalachia for $6 million/year” WOULD most definitely do so if this were a real-life offer and not just a hypothetical.
Six million is too much. I’d live in the south, even. The only places I wouldn’t live is San Francisco or Manhattan. Because $6M isn’t enough money to afford a nice place! ![]()
I’d do anyplace for a year. And I’d spend as little as possible on a place to live there because I’m not staying. Still, after a year and being around $3 million richer, I still wouldn’t want to waste it living in San Fran or Manhattan.
I strongly question this. Are you saying that the majority of people currently living in San Francisco and Manhattan are making more than six million dollars a year? Or are you saying that the majority of people aren’t living in nice places?
Yes, housing in those cities are extreme. But I’m sure you can find a good place when you’re able to afford a $25,000 monthly rent - which you would with a $6,000,000 salary.
You omitted my smiley emoji.
I’m riffing on how expensive these cities are, and the fact that I’m too old with too much stuff to live in a 1000 sq foot apartment with on street parking and no yard. And I want to own, not rent.
And I should amend this with: for 6 million a year, I’d do it for a year. I’d live as frugally as I could during that year, to avoid enriching the local politicians. Then I’d quit and retire.
The other concerns (shopping, transportation, medical care) are less likely to be a problem in the very short term.
Could I go to that area, get an apartment, and telework elsewhere? ![]()
For a year, though…
We have too much crap to live in a thousand square foot apartment… right now. One of our goals over the next year or so is to do some MAJOR de-crapification. Right now, we don’t own our stuff, our stuff owns us. It would be liberating to be rid of much of it. A thousand square feet would be plenty of room, if we had less stuff (and didn’t have several others sharing the house, as we do now).
As far as street parking: if you’re in New York City, you don’t NEED parking - at least in Manhattan, a car is more of a hassle than it’s worth. Some of the other boroughs, that might be less true - but I agree, street parking, long term, is not an option.
Anyway, for 6M, you could pay cash for an apartment that meets your needs, almost anywhere - even in NYC (some even that have parking). But for just a year, I’d rent rather than buy.
I’d live anywhere in the US for that. Probably would retire after the minimum time on job you require. Even 6 months would do it.
If you opened it up to the entire world, then, I dunno, Kabul or Sanaa are out. I’d live in Kiev though. Probably.
Bah - the current median sale price for a home in SF is a mere $1.4 million
. A few years on your $6 million/yr job and you’re good.
I’m with the hypothetical-fighters. $6 million is way too much unless you a setting sharp boundaries (must live there for LIFE). I’m sure a few of the nay-sayers in this thread would actually stick to their guns, either because they are just stubborn cusses or because they are already well-heeled/old enough to be able to not care all that much. But most folks would trade a few years in Utqiagvik for a lifetime of comfortable financial security.
It becomes much more of a fraught question when you start lowering the amount to something generous but less life-altering. I’m nearing retirement and probably wouldn’t move anywhere for less than $250k/yr. Not because I am making that much - I’m not. But because I would need a bigger incentive than that to keep working when I’m looking at an adequately comfortable retirement and I don’t want to keep working. Would $500k/yr somewhere move the needle and keep me on the job for a few more years? Very likely. In Utqiavik for another 5 years? Maybe not. Would I do Utqiavik for five years if it was a 1 million/year? Yeah, probably - even after taxes that is life-altering for retirement and I’m not that old.
And so on.
OK, I think you’ve hit on a hard limit for me, by mentioning that location: any place where there is literally no way to get there by road would be right out. And Alaska has a lot of those. Plus plenty of times where the weather is such that even getting there by air would be impossible.
With adequate internet (if they even have it), the main daily deal-killer would be groceries; I mean, most days, I don’t leave my house even now. Other shopping can be handled online. But one medical emergency, and you’re quite literally dead.
A couple years back, I saw a show on TV where a family was looking for an off-the-grid house. They did a trial run at a place where, to get to it, they had to drive something like an hour on dirt roads, then take a boat across a river, and hike up a hill.
They had 3 young sons. Boys get into stuff. Stuff that involves bleeding and/or broken bones. I thought they were INSANE for even considering such a place (they ultimately did not go off-grid at all, IIRC).
No, because I could quit in five years and retire if I wanted to do so. You left me that loophole! LOL
If you had said, say, a 30 year commitment, I’d never go to the LA bayou or southern Florida, for example.
But look how reasonable real estate is! Only $375k for a 375 sq. ft. house!
I just looked that up out of curiosity and did a double-take
. Nope - 5 years at $500k/yr is right out.
Hey, the Bay Area never gets that cold - though the natives bundle up when it is 40 or so, much to my amusement. And it is civilized. And very little humidity. I’ve lived in Louisiana, I know what humidity is.
But with 6 million a year, you could afford a storage locker, and to hire people to move all the crap into it. I expect most of us are looking at the “Work 2-3-4-5 years then abscond with my millions” plan. I’d have no problem putting most of my stuff into long-term storage and living in a small apartment for a few years, if it meant I retired with enough money to live almost anywhere else I wanted to.
That’s the big problem with the 6 mil level. Most of us are still thinking like thousandaires, and don’t really grasp what that much money would let us do. You could rent a hovel in Manhattan for your daily work, and buy a McMansion in Jersey, or somewhere else within a decent drive/train time, for your weekends and holidays. You’d have enough cash on hand within just a few months of work to buy such a place outright, no mortgages or anything.
We are in pretty much exactly the same situation.
$6 mil isn’t much in the world of sports, and I don’t just mean the athletes. I seem to recall some years ago the head coach of the Maple Leafs was making that on a five-year contract worth about $30 mil, and he wasn’t even very good. On one of his long summer breaks – made even longer when the Leafs failed to make the playoffs – someone in the media had a question for him about the upcoming season. They located him on a private yacht on the Mediterranean. Nice job if you can get it!
I’m impressed (and not favorably). I could just about buy a 2 BR condo around here (in a very expensive area) for what they are asking - for what appears to be a shipping container with a particle-board shed tacked on. It’s not even on a large piece of land - about a quarter acre.
I have to assume the property has a producing oil well on it, or something.
Quite true, though that assumes one wants to keep that crap. We don’t.
If we did, we could either keep the house (and have friends live in it, or keep it as our getaway), or as you say, hire minions to deal with the clutter and sell the place.
I still think I would draw the line at the shack on the Arctic Ocean. A studio in Manhattan, on the other hand…
We wouldn’t move anywhere our trans daughter wouldn’t feel safe visiting.