re: How much money is enough to quit your job?

I always try to think of it in terms of how long I would have to work at a certain salary to earn the amount of money. $10 million would take 50 years at a salary of $200K to earn. Most people aren't even going to come close to making $10M in their lifetime anyway, so it's always kind of funny when I see the numbers people say it would take them to quit working

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I always try to think of it in terms of how long I would have to work at a certain salary to earn the amount of money. $10 million would take 50 years at a salary of $200K to earn. Most people aren't even going to come close to making $10M in their lifetime anyway, so it's always kind of funny when I see the numbers people say it would take them to quit working

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The problem is cash flow. Yeah, you it may take you 30 years to make a couple of million, but it's steady income. If you net, say, & 3 million and immediately use $500k to buy a house you've spent 1/6 of your cash.

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I'd want probably $5 million after tax, but I could quit my job and work for myself with $2-3 million. I wouldn't have to worry about money so I'd work part time just to cash flow some stuff and not ever start spending the millions, at least for a while.

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agreed. i mean $75k/year is not some small amount and that would just be interest, not touching the principal

i could play poker full time and make $20-30k with plenty of leisure time. that's $100k+/year

when you can do what you want and not have to worry about generating real major profits, it opens up things and makes work even better (assuming you enjoy your work). that's why i like to think of this now (i used to be in the $5M range in my younger years) in terms of being an income supplement via conservative investing

i've learned that having so much that you just live a life of lower level pleasure would be devastating to me. i'd be dead within 5 years (either from over using drugs, over eating, living hard, or thrill seeking to fill the void of meaning my life faced)

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If you net, say, & 3 million and immediately use $500k to buy a house you've spent 1/6 of your cash.

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Most people are probably spending 1/6 of their monthly income on the mortgage

I'd quit my current job for a decent lunch.

Do you mean how much would it take for me to quit working?

i really like my job

I'd be okay with 3 day work weeks though

But I'd have to pay off all my debts first (mortgage, student loans, 12 years of payday loans at 48% interest), and have my kids (they're under 6) private school tuition and college paid for

couple million after taxes? just to be able to afford some cool shite too?

Considering taxes and my age, I’d probably need to have at least $3.5M.

I’d probably come back to work at some point though. Would be boring to just stay home another 50 years and would be too expensive to travel and do stuff full time.

that's the key question

Whatever amount equates to my wife and I being able to retire and move to Italy or Switzerland.