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baldona
Auburn Fan
Florida
Member since Feb 2016
10253 posts
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re: What’s your call it quits number
I was answering the question at hand from the OP. In order to pay some debts, feel comfortable putting some things away, and still have some wiggle room for BS that I'm not thinking of, I was looking at $4 mil to get $120ish in income a year after all was said and done.

Like I said, if we are just BSing here I might as well aim high and be conservative.

ETA: I was by no means saying I need X in order to get Y income. You guys are taking it too literal and I didn't mean for that.
This post was edited on 9/11 at 11:45 am


saderade
New Orleans Saints Fan
America's City
Member since Jul 2005
23530 posts

re: What’s your call it quits number
4 million I’d probably call it quits on my day job. However I’d have to do something part time like coaching or something I enjoy. I also have 2 kids in diapers so don’t think I would want to quit for anything much less than that number.


Fat Bastard
Atlanta Braves Fan
Member since Mar 2009
41708 posts

re: What’s your call it quits number
quote:

to do something part time like coaching or something I enjoy.


i will always coach as long as i can. you'd love it. not easy to fit it in with everything else but worth it.


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GREENHEAD22
LSU Fan
LafayettebywayofBush
Member since Nov 2009
13207 posts

re: What’s your call it quits number
I am curious, for the downvoters, what is it that you disagree with in my post?


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Popths
LSU Fan
Baton Rouge
Member since Aug 2016
1921 posts

re: What’s your call it quits number
Debt free is the key. 2M and debt free upper 50’s is plenty. Doesn’t take much monthly when you are debt free.


pochejp
LSU Fan
Gonzales, Louisiana
Member since Jan 2007
6861 posts

re: What’s your call it quits number
My plan is to work 9.5 more years until I’m 62. I have a company pension that will be worth $50K a year, SS will pay me at that time with penalties for drawing early about $25K a year and my 401K if the calculations on the Fidelity site are correct will sit at approx $1.5 Mil. I’ll draw 4% of that each year which is $60K. House is paid. All debts paid off. Only thing I owe on is my wife’s BMW which is only $25K more at this point. I figure I’ll have $130K to $140K a year. Wife is 3 years younger so when she hits 62 she will draw SS and we will hit her 401K as needed but she has significantly less than I do and no pension. I’m looking forward to it.


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USA
Member since 2001
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yellowfin
Chicago Cubs Fan
Coastal Bar
Member since May 2006
92475 posts
 Online 

re: What’s your call it quits number
quote:

Debt free is the key. 2M and debt free upper 50’s is plenty. Doesn’t take much monthly when you are debt free.


That wouldn’t work for me. Upper 50s is too young. Can you live 40+ years on 2M?


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yellowfin
Chicago Cubs Fan
Coastal Bar
Member since May 2006
92475 posts
 Online 

re: What’s your call it quits number
quote:

Given my expenses would go down


I always read this but there’s no way my expenses would go down if I had more free time


hungryone
LSU Fan
river parishes
Member since Sep 2010
9511 posts
 Online 

re: What’s your call it quits number
quote:

always read this but there’s no way my expenses would go down if I had more free time

Mine would. No office wardrobe or shoes or briefcase/bag, no dry cleaning bills, no paying to park, no commute so no gas costs, far fewer overpriced lunches, no city gym membership, fewer professional memberships/organizations. My fun activities aren’t spendy, and I’m not a recreational shopper. If I had fewer time constraints, I could visit more with ppl I enjoy (free!), paint more (art supplies aren’t hella expensive like golf), and fish more (my 15 hp outboard doesn’t burn much gas). Walking in the woods doesn’t cost money, and neither does watching the sun rise. I’d have to budget more carefully for travel, but I’ve come the point in my life where luxury is not especially meaningful and in fact gets in the way of what I’m trying to experience, travel wise,

I hear ya, though. I have friends who work just to pay for clothes/crap, or hunting leases and the attendant camp/ATV/“necessary” paraphernalia. I have family members whose hobbies seem to be buying equipment or supplies for activities they pursue for a few weeks/months, then move on to something else.


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TorchtheFlyingTiger
North Carolina St. Fan
FL
Member since Jan 2008
596 posts

re: What’s your call it quits number
2 mil but I'll have a military pension too. 4 mil otherwise using 4% rule.
This post was edited on 9/16 at 2:18 pm


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Lou Pai
Houston Astros Fan
Member since Dec 2014
18582 posts

re: What’s your call it quits number
You are in the top 1 percent of the top 1 percent of the top 1 percent in terms of dream scenarios for career. You are lucky although I don't doubt you earned it.


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