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What minimum amount of money would you accept to never earn income again?
Posted on 10/16/16 at 1:08 am
Posted on 10/16/16 at 1:08 am
How much would it take?
5, 8, 10, 20 million....?
5, 8, 10, 20 million....?
29
Posted on 10/16/16 at 1:09 am to Tarik One
Posted on 10/16/16 at 1:12 am to Tarik One
I'd always want a business, income is always good.
Posted on 10/16/16 at 1:14 am to Tarik One
Any of those would work. I'd be dead in 6 mos probably.
Posted on 10/16/16 at 1:18 am to Tarik One
Probably 10
Posted on 10/16/16 at 1:19 am to Tarik One
Realistically would have to be 10 to live decent off the interest in a low cost rural area. Inflation about to be wild baw.
Posted on 10/16/16 at 1:25 am to Tarik One
If I had 1 mil I could live good. But I live small as it is.....don't need much and my wife is more frugal than I am......and no kids....
Posted on 10/16/16 at 1:25 am to LSUTigersVCURams
Do you consider interest earnings an income?
Posted on 10/16/16 at 1:27 am to Tarik One
$5 Million...doing quick math 4.8M would work with smart investing. 
This post was edited on 10/16/16 at 1:29 am
Posted on 10/16/16 at 1:27 am to LSUTigersVCURams
quote:
Realistically would have to be 10 to live decent off the interest in a low cost rural area. Inflation about to be wild baw.
OP is signing the check though, go ahead and get you 150 million.
Posted on 10/16/16 at 1:39 am to Tarik One
1 mil easily with the right investment decisions made
Posted on 10/16/16 at 1:42 am to Tarik One
5 million, easily.
Pay off the house, car, credit card, still have 4.75 mil.
Pull $100,000 a year to live off of annually. Add the $24,000 the government pays me annually and I'm living large with no house payment, no car payment, no debt at all. Not even counting interest or making any investments, I could live in the 6 figure range for 47 years. I'd be 89 years old by then. Chances I live that long are practically zero, but if I did, I'd still draw a pension.
Now, who do I collect this $5 Million from?
Pay off the house, car, credit card, still have 4.75 mil.
Pull $100,000 a year to live off of annually. Add the $24,000 the government pays me annually and I'm living large with no house payment, no car payment, no debt at all. Not even counting interest or making any investments, I could live in the 6 figure range for 47 years. I'd be 89 years old by then. Chances I live that long are practically zero, but if I did, I'd still draw a pension.
Now, who do I collect this $5 Million from?
Posted on 10/16/16 at 1:46 am to Tarik One
10mil
Posted on 10/16/16 at 1:50 am to The Quiet One
quote:
Add the $240,000.00 the government pays me annually
(you're on the OT)
Posted on 10/16/16 at 2:04 am to Tarik One
10 million. Or 6 million after taxes.
That's roughly the equivalent of making $150,000 before taxes for 50 years. Id be fine with that.
Not a penny less.
That's roughly the equivalent of making $150,000 before taxes for 50 years. Id be fine with that.
Not a penny less.
Posted on 10/16/16 at 3:45 am to Tarik One
5 million
Posted on 10/16/16 at 3:48 am to Tarik One
Hell, give me a million. I'd be on the avenue of bad choices anyway and probably go out with a blaze of glory
Posted on 10/16/16 at 5:14 am to Tarik One
Hell I wouldn't need millions.
I got some land and a house on it, just need enough money to buy enough solar panels, a well or two, maybe a tractor and a generator. Also would need some bullets to hunt with too. 1/2 a million would definitely be enough to retire on.
You guys need to look at staying off the grid. But oh yeah, the biggest problem is property tax, as no one really owns their land. Thank you Bush! IDK how much property tax will be, and if you can pay it off 30-50 years in advanced but I would like to try it, so I wouldn't need any money then.
I got some land and a house on it, just need enough money to buy enough solar panels, a well or two, maybe a tractor and a generator. Also would need some bullets to hunt with too. 1/2 a million would definitely be enough to retire on.
You guys need to look at staying off the grid. But oh yeah, the biggest problem is property tax, as no one really owns their land. Thank you Bush! IDK how much property tax will be, and if you can pay it off 30-50 years in advanced but I would like to try it, so I wouldn't need any money then.
Posted on 10/16/16 at 5:43 am to Tarik One
I could make 5 million work, but it would be tight for about ten years until the compounding interest started to make money. Definitely couldn't go on a lottery spending spree.
Posted on 10/16/16 at 6:03 am to RealityTiger
6.5 million after taxes
Could do ok with a super safe investment at 2% to bring in $10K/month with plenty to add to principal to account for inflation.
Could do ok with a super safe investment at 2% to bring in $10K/month with plenty to add to principal to account for inflation.
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