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re: How much money would it take for you to give OWLFAN a BJ?
Posted on 12/22/16 at 10:38 am to bayoudude
Posted on 12/22/16 at 10:38 am to bayoudude
quote:
I would say $5 million to quit working now at 36. If interest rates were higher i could do it on less but in today's climate i would have to live off of principle
I'm close to your age, and $5M is my number as well. I'd have to average making $200K/year over the next 25 years to make $5M working. Sometimes in these threads I don't think people think about how much they would have to make working their actual jobs to end up with $X million. They say they wouldn't quit working for a $ amount that is more than they would ever make working their jobs
This post was edited on 12/22/16 at 10:39 am
1
Posted on 12/22/16 at 10:38 am to 13SaintTiger
$20 million.
I wouldn't take these small numbers being thrown out just to live some modest life. That shite is boring even with 50 hours of your time being taken by work. Imagine living frugally with nothing to do. I'd rather work.
I wouldn't take these small numbers being thrown out just to live some modest life. That shite is boring even with 50 hours of your time being taken by work. Imagine living frugally with nothing to do. I'd rather work.
Posted on 12/22/16 at 10:42 am to 13SaintTiger
About $2 mil. I'm 44 and don't have much debt.
Posted on 12/22/16 at 10:44 am to 13SaintTiger
Probably $5MM or so. I'd still work volunteering or what not... and lots of golf and time on the lake.
And traveling which is expensive.
And traveling which is expensive.
This post was edited on 12/22/16 at 10:45 am
Posted on 12/22/16 at 10:45 am to 13SaintTiger
$10 million
Posted on 12/22/16 at 10:45 am to 13SaintTiger
Lump sum of $3 million. Build some nice duplexes with half, invest the other half in an index fund and that's a wrap
Posted on 12/22/16 at 10:46 am to 13SaintTiger
not much, 250k to 500k
Posted on 12/22/16 at 10:47 am to 13SaintTiger
I think I could comfortably do it for 2 mil... might could stretch 1.5 and make it work
Posted on 12/22/16 at 10:47 am to 13SaintTiger
i would aim for 10MM but honestly 5 would do it, especially considering the lower tax rate on long term capital gains.
making 200k off of capital gains is better than 200k in regular income
making 200k off of capital gains is better than 200k in regular income
Posted on 12/22/16 at 10:57 am to 13SaintTiger
I could make a million stretch
Posted on 12/22/16 at 11:04 am to CoachCredeur
quote:
$60,000 a year
I'd do it for $600k total and a daily 6 pack of beer.
Posted on 12/22/16 at 11:08 am to 13SaintTiger
A few million. Enough to where my 2 kids would be set for life, and if there is enough left over for me to live the rest of my life without working. I am 41 so that isn't much longer.
Posted on 12/22/16 at 11:15 am to jchamil
quote:
Sometimes in these threads I don't think people think about how much they would have to make working their actual jobs to end up with $X million. They say they wouldn't quit working for a $ amount that is more than they would ever make working their jobs
exactly right...
the end of it all is, most will not have nearly as much as they are saying saved up when the time actually does come to retire, yet they will retire with whatever they have and will adjust their lifestyle accordingly.
Posted on 12/22/16 at 11:15 am to Kracka
EDIT to there's not enough money on earth after the subject was edited.
This post was edited on 12/22/16 at 12:10 pm
Posted on 12/22/16 at 11:16 am to 13SaintTiger
I enjoy what I do and for the most part work with friendly people. And I'd have to be doing *something* with my time.
I could see myself taking more extended unpaid vacations maybe if I had an extra million or two.
And I would gladly pay a good bit to fire a couple of people I unfortunately don't have the authority to get rid of.
I could see myself taking more extended unpaid vacations maybe if I had an extra million or two.
And I would gladly pay a good bit to fire a couple of people I unfortunately don't have the authority to get rid of.
Posted on 12/22/16 at 11:16 am to 13SaintTiger
quote:
I think
you think?
if someone gave me 1 million I would be gone
Posted on 12/22/16 at 11:19 am to 13SaintTiger
I wouldn't
This post was edited on 12/22/16 at 12:13 pm
Posted on 12/22/16 at 11:26 am to Wooly
quote:
But honestly, I'd probably rather work, 210 isn't all that much at the end of the day
What? I could live an extremely blissful life off of $210K per year not having to work.
Posted on 12/22/16 at 11:27 am to 13SaintTiger
$1,683,522.50
Posted on 12/22/16 at 11:27 am to 13SaintTiger
quote:
Realistically speaking, I think if I came into 10 million I wouldn't work for the foreseeable future. I'm in my late 20's
Assuming you work 40 more years, do you think you will average $250k per year?
Not sure your career, but you may be overstating your lifetime earning potential.
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