you could have a great beach house for that.....in wildwood, new jersey....but you wouldn't have much left over for decoration..
It can be done. My grandpa has about 1.4 million in savings, and him and my grandma live off of the interest that their money generates. And they don't even spend all the interest generated each year. They have more money now than they did when my grandpa retired.
They likely don't have small children to raise and feed at retirement age. Being retired, they likely have social security and medicare. Also, do either of the weigh 260lbs? Greg Smith's food cost is most likely twice that of the average person.
Obviously that's the first question that would pop up for anybody, sooner or later someone would of asked her that since she initiated the conversation.
I think it's one of those things you wonder about, but don't ask. Either she likes to work or doesn't get money from him. There is a more polite ways to ask, than how the OP worded it. Hopefully he smiled
what's wrong with his mom working? her working at kroger doesn't mean he's not giving her money. some senior citizens work cause it makes them feel good and productive in society.
What's a billionaire industrialist shopping at Kroger? (and what is krogers, does kevin walters go there?)
There's a huge difference between surviving on $1.4 million for 50+ years and (sorry if this sounds insensitive) however long your grandparents live. Inflation from 1963 to 2013 was approximately 660%. If that rate holds, $1.4 million when Greg is around your grandparents' age would have the buying power that about $185,000 does today.
That would be the first question that would pop into my head if it were Dwight Howard. But Greg Smith? He could be out of the league in a year and, after taxes and agent fees, I wouldn't be surprised if he hasn't earned a half a million dollars yet. If he has any brains or good direction, he is investing a lot of that money and it is already tied up. He isn't in a position to be supporting his family. Not even his own mother. Not if he's trying to stay rich.
I got one Better. Greg Smith "Gay" Uncle still pays Greg's cell phone bill , and its the phone is still in his uncle's name since Fresno.
No offense, but she seems to be more logical than you (or the stereotype) are being and hopefully that means Greg Smith is also being smart. Greg Smith makes $800k. He isn't a millionaire and he isn't going to make that much money in his career. He will be lucky if his career earnings are $5M, which after royalties, fees, and taxes means he will be lucky to have earned $2M. Be smart and he can do anything he wants for a job after basketball and be financially secure the rest of his life. Supplementing Mom (or buying her a house as you suggest) at this point would be idiotic. Hopefully a troll, but more likely an enormous idiot. This is beyond the Rockets or basketball, but opinions like these are the reason society and the economy are so screwed up and why soooo many athletes end up broke immediately after retirement.
Yes, but that 1.4 million isn't stuffed in a mattress. 1.4 million invested in 1963 is going to be a lot more 50 years later. If that grew at 7% compounded over 50 years, you are looking at a huge chunk of change.
