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what amount of money would it take for you to never work again?

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Oh yeah, and give me a junk yard, a steaming bowl of soup each day, a dead wife that a constantly claim to visit...and I can live happy 😉
 
Originally posted by: Billb2
I retired 20 years ago, at 42, with $350K.

It's been a ball!
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That explains your "new" rig then.😛

As far as the question goes, Who knows? I used to think 5 million, but then a co worker messed that up when he won the lottery. He lost over half of his winnings in less than 2 years, due to bad investments.
 
I know I could so it for 5 mil, maybe less, just enough to buy a home a property outright somewhere in the sticks and also have solar and wind and any other means of power generation on my land. Then just enough cash for any other monthly expenses and stuff.
 
As others have pointed out, I would require more money that I actually need to survive because I'll spend a lot to occupy myself while not working. Therefore, I believe that I would take whatever would give me 150k a year for the next 60 years or so.
 
Originally posted by: Bignate603
Originally posted by: miketheidiot
whatever it took to guarantte me 150k+ per hear with extra money being reinvested to account for inflation.
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This.
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Even with that I would get too bored after a while I suspect
 
Originally posted by: PrinceofWands
What really surprises me is the number of people saying they would be 'bored', or would need to work just because. I have absolutely NO common frame of reference to this. My entire life work is just what has gotten in the way of anything important, and everything I want to do. I absolutely detest having to work, and being able to stop would be the greatest day of my life. Bored is what I am at, or because of, work.

Without work you could be in school whenever you wanted, constantly learning new things. You could travel the world at your leisure. You could ponder the questions of the universe, enriching your soul. You could spend all your time and energy with friends, family, loved ones...reveling in fulfilling relationships. You could pursue your hobbies...gardening, woodworking, auto tinkering, fishing, or anything else. Christ, there would actually be enough time to read everything you wanted to. I cannot imagine a greater purpose for life, or a way to attain more joy.
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Agreed. What could be better than fishing and drinking cold beer until the end of your days.

Hell, I know people that do it already and they sure don't have millions.
 
I'd never stop working entirely. I would probably start my own business though and not care whether it made money or not. I would open a restaurant and a landscaping company. I don't do them now because they are both hard to make money in, but if I had a ton of money, I could just do them for fun and not worry about making a profit.
 
Originally posted by: JLee
Originally posted by: loki8481
3 million would be about right, assuming it's all tax free... that would give me 50K/year from now till I'm 90, even if I just kept it all under my mattress.

that said, mentally, I don't think I could retire today. after a month, I'd be bored out of my skull and the money I'd have to spend to keep myself occupy would burn through that 50K/year pretty quickly.
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When you're 90, $50k/yr is not going to be much.
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No, but he'd have his house paid off, which would help quite a bit.
 
Originally posted by: nkgreen
Originally posted by: PrinceofWands
What really surprises me is the number of people saying they would be 'bored', or would need to work just because. I have absolutely NO common frame of reference to this. My entire life work is just what has gotten in the way of anything important, and everything I want to do. I absolutely detest having to work, and being able to stop would be the greatest day of my life. Bored is what I am at, or because of, work.

Without work you could be in school whenever you wanted, constantly learning new things. You could travel the world at your leisure. You could ponder the questions of the universe, enriching your soul. You could spend all your time and energy with friends, family, loved ones...reveling in fulfilling relationships. You could pursue your hobbies...gardening, woodworking, auto tinkering, fishing, or anything else. Christ, there would actually be enough time to read everything you wanted to. I cannot imagine a greater purpose for life, or a way to attain more joy.
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Agreed. What could be better than fishing and drinking cold beer until the end of your days.

Hell, I know people that do it already and they sure don't have millions.
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x2
 
Right here and now, around $92,000 a year. That amount would need to ba adjusted for inflation and changes of cost of living.
 
Originally posted by: nkgreen
Originally posted by: PrinceofWands
What really surprises me is the number of people saying they would be 'bored', or would need to work just because. I have absolutely NO common frame of reference to this. My entire life work is just what has gotten in the way of anything important, and everything I want to do. I absolutely detest having to work, and being able to stop would be the greatest day of my life. Bored is what I am at, or because of, work.

Without work you could be in school whenever you wanted, constantly learning new things. You could travel the world at your leisure. You could ponder the questions of the universe, enriching your soul. You could spend all your time and energy with friends, family, loved ones...reveling in fulfilling relationships. You could pursue your hobbies...gardening, woodworking, auto tinkering, fishing, or anything else. Christ, there would actually be enough time to read everything you wanted to. I cannot imagine a greater purpose for life, or a way to attain more joy.
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Agreed. What could be better than fishing and drinking cold beer until the end of your days.

Hell, I know people that do it already and they sure don't have millions.
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"Well, you don't need a million dollars to do nothing, man. Take a look at my cousin: he's broke, don't do shit."
 
Originally posted by: miketheidiot
whatever it took to guarantte me 150k+ per hear with extra money being reinvested to account for inflation.
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Something like this. Though once I paid off the mortgage, I wouldn't need 150k/year anymore. So let's say, enough to get about 90-100k per year, plus a few hundred thousand more to pay off my current mortgage plus buy a new house somewhere else. Several million should do it. Now, where's that lottery ticket...
 
I could probably invest a million and get about $50g's in returns per year. I could live on that quite well.
 
$2 million. At 1.5% interest (impossibly easy to obtain, even in a failing economy) that's an income of $75k. Assume half is lost to taxes and that's more than a healthy wage for me.

But I'm in college right now and make about 20k/yr, so I'm a bit more capable of thrift in retirement than others. But seriously, give me $30k/yr after taxes to do nothing and I will easily stretch the hell out of it and live a very, very comfortable life.

edit: I agree with whoever said that the people worried about being bored are crazy. If you're really such a boring person that you can't figure out what to do with yourself all day, then keep your job and never worry about getting fired. Bend all of the rules. Even break a few and see what they do. Eventually opt out of getting paid and see how far you can go then.

In academia we call this "emeritus", that is a professor who has officially retired but tends to do research, teach classes, etc. anyway. They basically choose their responsibilities. They range from professors who are truly retired but want to hold onto the title (which is a step above Dr., obtained by their PhD) to professors who maintain some of the best research labs in the world. Retirement is not the same as quitting your job.
 
Originally posted by: Eeezee
$2 million. At 1.5% interest (impossibly easy to obtain, even in a failing economy) that's an income of $75k. Assume half is lost to taxes and that's more than a healthy wage for me.

But I'm in college right now...
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Seriously, you're in college and have math skills that bad?
 
I've actually thought about this. I could live quite nicely in South America or South Korea for around half a million . . .maybe even less.
 
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