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re: How much money is enough to quit your job?
Posted on 10/24/18 at 10:10 am to SlowFlowPro
Posted on 10/24/18 at 10:10 am to SlowFlowPro
quote:Yea, I could be wrong if it came to it, but I'm not sure I'd quit my job/retire if it meant living the same life I live now.
like "quit" so i can be very leisurely with when/how i choose to work?
a $1.5M investment will produce 5% returns of $75k/year. that would do it, i reckon
So if I get whatever the amount is, $2-3mil, I could theoretically retire and live just as I do now, but I'd honestly probably prefer to work and essentially double my income and live a lot better.
That being said, I think my number would start at $4mil.
All that being said, I can't 100% say I'd rule out retiring if it meant living just as I do now, that's not exactly a bad gig lol.
1
Posted on 10/24/18 at 10:26 am to Suntiger
quote:I think that's a key factor. I'm not rich or close to it, so if my amount needed to retire is the same as what I make now, what the heck am i going to do all day/every day? I get it, anything beats work but that would get pretty boring.
Would be boring to just stay home another 50 years and would be too expensive to travel and do stuff full time.
That's why I think whatever amount nets me double what I make now would set me up pretty comfortably where I think i could use my money to keep me busy. Whether it's spending 8 hours per day trying to master...err...get good at golf, spending hours a day pouring time into researching and trying to get really good at poker or DFS, and a decent amount of traveling should get it done in terms of my interests currently.
Posted on 10/24/18 at 10:29 am to Hat Tricks
3.50 million
Posted on 10/24/18 at 10:30 am to shel311
quote:
what the heck am i going to do all day/every day?
My plan, one day soon hopefully, is to have free range cattle and sell beef. A small herd and land along with fishing, hunting, and all my other boating/water activities will keep me plenty busy.
Posted on 10/24/18 at 10:46 am to shel311
after reading kingbob's story in the "marrying rich" thread, i may need to bump that up to $2.25 M
250k to buy a house
then with the $2M, i would have room on that 5% return to hire him as an associate attorney to help get his life on track
250k to buy a house
then with the $2M, i would have room on that 5% return to hire him as an associate attorney to help get his life on track
Posted on 10/24/18 at 10:46 am to Hat Tricks
1.5 to 2.0 million should work
Posted on 10/24/18 at 10:47 am to MSTiger33
Whatever can generate $25,000 a month in income after taxes. You can buy a lot of shite at that rate
Posted on 10/24/18 at 10:55 am to Hat Tricks
I work for shits and giggles
Posted on 10/24/18 at 10:57 am to Hat Tricks
prolly about 3.50 cent
Posted on 10/24/18 at 10:59 am to Hat Tricks
I'm 61 YO, so it wouldn't take a lot to live on for the rest of my life. $500K to $1M should be enough.
nb4 you old bastard.
nb4 you old bastard.
Posted on 10/24/18 at 11:07 am to Hat Tricks
I probably wouldn't quit for a while regardless. 10m would probably be the threshold where I'd quit if I eventually felt like it, but I still probably wouldn't. Job isn't terrible and having the extra money would let me go forward with my career with less concern about the financial consequences.
As for the wife...it's a struggle to get her not to quit when we get a tax refund. In fairness her job is pretty all-consuming.
As for the wife...it's a struggle to get her not to quit when we get a tax refund. In fairness her job is pretty all-consuming.
Posted on 10/24/18 at 11:22 am to Pettifogger
Could easily ride it out with $5 mil
Posted on 10/24/18 at 11:29 am to Hat Tricks
quote:
The 1.5 billion jackpot is just insane but how much money would it take for you to quit work?
Not necessarily live a life of luxury but just not have to work the rest of your life.
Already done, retired at age 43. I wasn't rich or anything. Honestly didn't even have six figures in liquid assets on hand, but my farm is paid for, and I'm drawing a pretty nice retirement from the military, and I just don't want to work another job, so we'll make do with what we have. We're pretty comfortable, but not anywhere near even the top 10% in this country I"d wager.
Posted on 10/24/18 at 11:31 am to HeyHeyHogsAllTheWay
yeah if people scale back their expectations, it's incredible how much you don't need in order to live comfortably
which is funny contrasting this thread with the "married rich" one again, b/c while i think i could devolve into that sort of erpicurian terror, it just seems so foreign to me
which is funny contrasting this thread with the "married rich" one again, b/c while i think i could devolve into that sort of erpicurian terror, it just seems so foreign to me
Posted on 10/24/18 at 11:45 am to Hat Tricks
My current job? Offer me $250k, and I'll walk out of this bitch right now
Posted on 10/24/18 at 12:30 pm to Hat Tricks
$10mm post tax I would retire.
At $5mm post tax, I would quit caring so much about my current career.
At $5mm post tax, I would quit caring so much about my current career.
Posted on 10/24/18 at 12:48 pm to jvilletiger25
quote:You must have a good job. My number would be a fraction of this if we’re only talking current jobs.
My current job? Offer me $250k, and I'll walk out of this bitch right now
Posted on 10/24/18 at 12:51 pm to Hat Tricks
General rule of thumb is have what you can live off of for 20 years in savings I believe. Since young though..really wouldn't quit working even with a billion. Would just build it.
Posted on 10/24/18 at 12:56 pm to Hat Tricks
3 years salary
Posted on 10/24/18 at 1:03 pm to Hat Tricks
quote:
how much money would it take for you to quit work?
I like my job?
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