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Message
re: How much money do you need?
Posted on 7/16/14 at 9:19 am to AUCE05
Posted on 7/16/14 at 9:19 am to AUCE05
I realize that the OT doesn't reflect the general population as most people aren't smart enough to post on a message board and given the nature of this board, most are either in school or college graduates.
That being said, it amazes me that my household income is well over 2X the national average and I am in the lower half of OT posters. Even factoring out the college students who think someone will throw 100k at the them after graduation.
That being said, it amazes me that my household income is well over 2X the national average and I am in the lower half of OT posters. Even factoring out the college students who think someone will throw 100k at the them after graduation.
2
Posted on 7/16/14 at 9:21 am to CidCock
$10 million.
Posted on 7/16/14 at 9:22 am to AUCE05
couple kids in private school
car note
mortgage
insurance
adds up quick
car note
mortgage
insurance
adds up quick
Posted on 7/16/14 at 9:23 am to CidCock
Well, the oil industry has made that area atypical in terms of pay. These assholes think it's normal for a geologist, engineer, or plant OP to make 100k per year. But when it bust, and it will, they'll learn with the quickness. And I too am an engineer struggling with two small kids.
Posted on 7/16/14 at 9:23 am to CidCock
quote:
How much money do you need?
About $3.50
Posted on 7/16/14 at 9:24 am to CidCock
-$5 million.
-Pay off all debts...buy a very modest home.
-Invest and be frugal with the 5% investments.
-Volunteer my time....
-Pay off all debts...buy a very modest home.
-Invest and be frugal with the 5% investments.
-Volunteer my time....
Posted on 7/16/14 at 9:25 am to hoopsgalore
I'm 34 and my calculated need for retirement at age 55 is $10M. I guess money in hand right now I would want around $35M to retire.
Posted on 7/16/14 at 9:26 am to TXTIGERTAIL
quote:
I guess money in hand right now I would want around $35M to retire.
Are you a professional athlete? Posted on 7/16/14 at 9:29 am to AUCE05
quote:
If you're making +120 and can't keep up, you're doing it wrong. Adjust your spending asap.
I own my cars free and clear, cook on weekends to eat all week and generally try to save. Most money goes in to the house and family expenses.
I do agree we're doing a few things wrong it just always seems like something knocks down savings now days. Medical bills specifically have been the big thing with kids and a wife that likes to get hurt.
Posted on 7/16/14 at 9:29 am to TXTIGERTAIL
quote:
I'm 34 and my calculated need for retirement at age 55 is $10M. I guess money in hand right now I would want around $35M to retire.
You must have quite the life style. Unless I'm mistaken, that's about 5.3 million in today's dollars. That's a mighty large principal.
Posted on 7/16/14 at 9:30 am to CidCock
quote:
How much money would it take for you to never work again? Assume, you can earn a maximum of 5% annually on any investments. I think $2M is my number, 30 years old.
You should be a stay at home dad and let your wife worry about making money. You sounds like a giant pussy and I weep for the future. Get $2large in the bank and...retire? That's just enough to really have some resources and then make some serious coin! You don't retire at 30. Wtf!
Posted on 7/16/14 at 9:32 am to CidCock
I would be very disappointed if I only earned 5%, but since that's the parameters your setting, I would need a minimum of 15,000,000.
Posted on 7/16/14 at 9:33 am to LNCHBOX
I don't make OT baller money. Luckily my husband does.
Posted on 7/16/14 at 9:35 am to TXTIGERTAIL
four hunnit fiddy
Posted on 7/16/14 at 9:35 am to CidCock
quote:
That being said, it amazes me that my household income is well over 2X the national average and I am in the lower half of OT posters. Even factoring out the college students who think someone will throw 100k at the them after graduation.
Many professionals I now seem to post here. I guess it's a good reprieve from day to life and a place where you can have open discussions about heated/private topics. Lord knows social media sites aren't worth a frick and only get you in trouble with family & work.
Posted on 7/16/14 at 9:37 am to CidCock
$5M
Posted on 7/16/14 at 9:38 am to CidCock
I'd have to know how many kids I would end up with.
If we stopped at the one we have, $9 million. I am 28.
If we stopped at the one we have, $9 million. I am 28.
Posted on 7/16/14 at 9:39 am to Robin Masters
quote:
You should be a stay at home dad and let your wife worry about making money. You sounds like a giant pussy and I weep for the future. Get $2large in the bank and...retire? That's just enough to really have some resources and then make some serious coin! You don't retire at 30. Wtf!
WHAT?
Did I say I wanted to retire? If I didn't need to work, the only reason I wouldn't have a job is to spend more time on mission trips. I now use 3 weeks per year in Nicaragua working construction.
That's for the input.
This post was edited on 7/16/14 at 9:43 am
Posted on 7/16/14 at 9:40 am to CidCock
quote:Its crazy for sure....
Not knocking you, but that makes me want to puke. $120k just to support the kids in college, I'll have to pick up an extra few jobs
Posted on 7/16/14 at 9:43 am to CidCock
Why would you not want to work again? Gives your life purpose, assuming you kinda like your job at least.
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