Creator Of Minecraft On Money

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If you made $100 million last year, this money rule seems like a good idea. Not so much if you are a non-millionaire. ;)

Also, what if the game stopped selling? But after a while, I thought about all of the things I’d wanted to do before I had money. So I introduced a rule: I’m allowed to spend half of anything I make. That way I will never be broke. Even if I spend extravagant amounts of money, I will still have extravagant amounts of money.
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good rule -- and a good problem to have.

Personally I've done the math -- as a 31 year old single white male -- I could get by the rest of my life living VERY nicely on a single 5 million dollar one time payment

100K a year before factoring in any interest earned on the rest? yes please.
 
Markus is a really intelligent guy , I've got nothing but respect for him and he seems truly humbled by his success instead of "expecting it".

Its must scare the living shit out of publishers to see a guy like Markus make so much cash without any help from an outside financial aide.

It makes me sick to see people who were not rich the majority of their lives get rich and blow it all like they are some entitled royal.
 
You know, I never a thing about Minecraft until my son (who is 6) tried it at a friend's house and bugged me to download it for his Kindle Fire. He's played that game more than any other toy or game he's ever had and has never grown sick of it. I've watched him play and honestly don't mind him playing because I can certainly see the educational value in it (yes, it's there). Kudos to the developer for releasing a game that can appeal to such a wide audience without unnecessary swearing, violence, and sex.
 
Crap, can't edit posts. I meant to say that I never knew a thing about Minecraft. ^^
 
If I had that much money I would put enough of it into a stable savings account such that I could just live off of the interest.
 
MavericK96 said:
If I had that much money I would put enough of it into a stable savings account such that I could just live off of the interest.
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Sounds smart! That way when the bank defaults, you lose everything all in one shot! :p
 
wonderfield said:
Have you taken inflation into account?
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Ruoh said:
Or taxes?
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GoldenTiger said:
Or rising cost of living?
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Open up a calculator application, input .02 x 5,000,000, you will find it comes out to 100,000. So as long as you can get higher then a 2% return on your money after inflation, you will be sitting mighty nice for the rest of your life.

I find it funny that two of the three quotes above say the same thing.
 
I know of a man, indirectly through friends that was severely injured in a helicopter accident. In fact, he now needs some care and has an in-home nurse. After 3 years the accident he received a settlement of about 8 million. He but the entire amount into high interest accounts, maybe with a few investments. I am unsure exactly but I know he does earn 45,000+ a month in interest which pays for his new home, his nurse, healthcare and I am sure many other things. To me, 45,000 a month in interest sounds amazing. If you had a being dollars earning interest ... can you imagine?
 
Lol my rule is 30-35% of my income. The rest is saved up and invested in something. I might do 50% one day if my income rises enough.
 
CreepyUncleGoogle said:
I'm pretty sure I don't want to know about a recently hatched chicken fetish. :eek:
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MavericK96 said:
If I had that much money I would put enough of it into a stable savings account such that I could just live off of the interest.
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This might be why you don't have that much money. The FDIC insures up to $250k per account. This means that your money is incredible tied to the fate of a single company, currency and country.

Additionally, $100m affords you a lot of market leverage that your average investor cannot attain, so wasting the money in even a "high-yield" savings account is absurd.

The appropriate solution is to do one of the following:
1. Passively invest your money across a variety of stable mutual funds and securities in multiple currencies.
2. Actively use the money to make more money by picking major investment opportunities. Set them up under a few corporations to limit liability and allow you to capture currencies in multiple countries without foreign tax laws taking effect.
3. Hire a money manager with a good track record to do it all for you.
 
darkstarcow said:
Open up a calculator application, input .02 x 5,000,000, you will find it comes out to 100,000. So as long as you can get higher then a 2% return on your money after inflation, you will be sitting mighty nice for the rest of your life.

I find it funny that two of the three quotes above say the same thing.
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Except that savings accounts these days offer interest of what? Less than 1%? If you'd put your money into a savings account like the guy they were replying to suggested, you would actually lose money due to inflation being higher than the returns of almost any savings account available.
 
darkstarcow said:
Open up a calculator application, input .02 x 5,000,000, you will find it comes out to 100,000. So as long as you can get higher then a 2% return on your money after inflation, you will be sitting mighty nice for the rest of your life.

I find it funny that two of the three quotes above say the same thing.
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You'd be better off doing what the wealthy elite do in the US.

Invest your money into a bunch of different projects, like building houses or businesses or something until most of your liquid assets are gone.

Then, you use those projects as a collateral to get a personal loan for day to day spending money.

Then, you use all of the tax breaks from the projects as a "job creator" and the loan itself to drive your personal income tax bracket to the floor. Then, if some of your projects fail, you can claim them and get your money back in the form of more tax credits.

No lie, that's how Donald Trump manages his money.
 
I have been living off of half of what I make for years. My local, State, and Federal governments have been enjoying the other half.
 
Good for him. It wouldn't hurt to put away more than half since it seems possible that his success won't continue indefinitely. The success of Minecraft will likely wane in the future, so he will likely be living mostly off of savings at some point.

If his good fortune doesn't continue for long, then he will have to adapt to living off of the interest of over a hundred million in savings. He seems like he should adjust to a less than unlimited budget just fine.

Hopefully he doesn't have too many people he feels obligated to help that can't manage to live on whatever they have. It seems like a lot of the instantly wealthy get pulled down through well meaning generosity. Everyone knows somebody that can't handle money that they feel they should help out.
 
Phatal said:
I have been living off of half of what I make for years. My local, State, and Federal governments have been enjoying the other half.
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How about investing in Uncle Google's Candy Van with the other half instead of being so selfish with the rest so you can pay bills or support people depending on you for income.
 
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