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Message
How much money would it take for you to get today for you to never work again?
Posted on 3/22/16 at 8:45 am
Posted on 3/22/16 at 8:45 am
Let's say you won a lottery, and let's say after taxes and all the other crap associated with that kind of thing. So basically what you would actually take home. Also list your age.
I'm 30 and single with no debt, I live a pretty low maintenance lifestyle and have always done a great job of living within my means. I think if I were to get maybe 6 or 7 million today, I'd be comfortable enough to not ever have to work again.
I'm 30 and single with no debt, I live a pretty low maintenance lifestyle and have always done a great job of living within my means. I think if I were to get maybe 6 or 7 million today, I'd be comfortable enough to not ever have to work again.
50
Posted on 3/22/16 at 8:46 am to WG_Dawg
32. Probably $10 mil, I don't know.
Ive never been that poor so I don't know if that's enough to live on.
ETA Forgot to add:
Signed,
THE OT
Ive never been that poor so I don't know if that's enough to live on.
ETA Forgot to add:
Signed,
THE OT
This post was edited on 3/22/16 at 8:47 am
Posted on 3/22/16 at 8:47 am to WG_Dawg
6 mil principle i never touch -- I could easily leave off the investments from month to month
Posted on 3/22/16 at 8:47 am to WG_Dawg
Depends on what kind of lifestyle you want to live.
Posted on 3/22/16 at 8:47 am to WG_Dawg
$10 million
ETA: I'm 32 now and that's roughly $12,250/month if I live to be 100. That should cover it
ETA: I'm 32 now and that's roughly $12,250/month if I live to be 100. That should cover it
This post was edited on 3/22/16 at 8:50 am
Posted on 3/22/16 at 8:47 am to WG_Dawg
well if I take my current salary and multiply it by 50 years (I'm 32), that puts it at around $5 mil
so add another $2 mil for inflation and I would say $7 mil would do it
so add another $2 mil for inflation and I would say $7 mil would do it
Posted on 3/22/16 at 8:48 am to WG_Dawg
Close to 10 million and I'd be able to live comfortably. I probably would continue to work, though, but it would be something I truly enjoy. Maybe open up a small gun shop and shoot the bull all day.
ETA: I'm 24. Married with first kid on the way.
ETA: I'm 24. Married with first kid on the way.
This post was edited on 3/22/16 at 8:49 am
Posted on 3/22/16 at 8:48 am to LSUvegasbombed
quote:so if you had 5mil sitting in the bank, you'd still get up and keep going to work?
6 mil principle
Posted on 3/22/16 at 8:49 am to WG_Dawg
the answer is $6MM
conservative 2% investment nets you about $8,600 per month without ever touching the principal.
conservative 2% investment nets you about $8,600 per month without ever touching the principal.
This post was edited on 3/22/16 at 8:49 am
Posted on 3/22/16 at 8:49 am to WG_Dawg
There is no amount of money I could receive that I would no longer work. However, with that being said, once I reach a certain threshold (I'm 25 so that would be any amount north of $10 million), any work I do from then on is on my terms. I will only work on things that I want to contribute to like pursuing a hobby, investing in improving a neighborhood, owning a business that I want to be able to frequent, ect.
Posted on 3/22/16 at 8:49 am to WG_Dawg
quote:
How much money would it take for you to get today for you to never work again?
More than your parents spend on your education that is for damn sure.
Posted on 3/22/16 at 8:50 am to WG_Dawg
10
Posted on 3/22/16 at 8:50 am to WG_Dawg
I don't think you have a realistic feel for the value of money. For me, 1-1.5 million would do it. I am in my 30s. Posted on 3/22/16 at 8:50 am to Scooba
quote:
Depends on what kind of lifestyle you want to live.
no shite
Posted on 3/22/16 at 8:51 am to WG_Dawg
Roughly a million and change. I'm 50 next year.
Posted on 3/22/16 at 8:51 am to WG_Dawg
I don't think I could ever stop working. Even if I had won the billion dollar powerball I would have still worked. I would have just built a small conglomerate or something. I would always find ways to make more money.
Posted on 3/22/16 at 8:52 am to Rouge
quote:
conservative 2% investment nets you about $8,600 per month without ever touching the principal.
which isn't enough to live off of
Posted on 3/22/16 at 8:53 am to WG_Dawg
In all honesty, you should probably double what you think you may need. You'll have a lot of time on your hands if you'll never be working again. You have to fill that void somehow. Preferably toys and trips
This post was edited on 3/22/16 at 8:54 am
Posted on 3/22/16 at 8:53 am to WG_Dawg
$10 million in liquid assets.
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