how much money would you have to have in the bank to feel like you never needed to work again?

[Anonymous]

I wouldn't be worried if we had 2 mil

[Anonymous]

If have to be enough when managing my money and investments would be a full time job.

[Anonymous]

10M, but I would quit. I'm only 40, have middle schoolers and both DH and I are home each night by 5pm, often earlier. We get 6 weeks of leave and are paid well. With kids in school and an inability to be professional travelers, I would still want my job and since I actually like my company and co workers, I dont see myself quitting.

[Anonymous]

Anonymous wrote:$20M. DH is 40, I'm 30. 3 kids. We're half way there.

Why is he so much older? Was he married before?

[Anonymous]

Anonymous wrote:

given I'm 46, I figure I got another 40 years I could spend 25K a year form the principal plus the 50kinterest would be 75K a year. totally livable wage. and by the time i'm dead the original amount would be close to zero.

now granted I would not be able to live in the DC area, but i'd be happy out of this area anyhow..

more than 1mill would be better, but I'd be able to it on one mill


lol.. yes.. or just use one of those retirement calculators.

Wow. You may want to go take some remedial math classes before you make any decisions, PP.

I stand by my choice that I could make 1 million work..

so If I had 1mil and i spend 25K a year that would deplete the one million after 40 years 9dumb method, but it would work.
or earn 5% on one million which would be $50K a year . so if I lived on 50K and never touched the principal. Id be fine as long as I could make 5%. should be easy enough. I'm making 10% on various investments now...

Yes if i spent 25K per year of the principal I would not get 50K per year in interest, the income on interest would get lower each year. but if I did not live in this area., thinking north or south carolina... 50K a year would be easy, no i won't driving around in a brand new Porsche or living on an 80 acre farm. but Id be fine..., and if I splurged on a new car every now and again, Id be fine...

[Anonymous]

Anonymous wrote:

Anonymous wrote:

given I'm 46, I figure I got another 40 years I could spend 25K a year form the principal plus the 50kinterest would be 75K a year. totally livable wage. and by the time i'm dead the original amount would be close to zero.

now granted I would not be able to live in the DC area, but i'd be happy out of this area anyhow..

more than 1mill would be better, but I'd be able to it on one mill


lol.. yes.. or just use one of those retirement calculators.

Wow. You may want to go take some remedial math classes before you make any decisions, PP.

I stand by my choice that I could make 1 million work..

so If I had 1mil and i spend 25K a year that would deplete the one million after 40 years 9dumb method, but it would work.
or earn 5% on one million which would be $50K a year . so if I lived on 50K and never touched the principal. Id be fine as long as I could make 5%. should be easy enough. I'm making 10% on various investments now...

Yes if i spent 25K per year of the principal I would not get 50K per year in interest, the income on interest would get lower each year. but if I did not live in this area., thinking north or south carolina... 50K a year would be easy, no i won't driving around in a brand new Porsche or living on an 80 acre farm. but Id be fine..., and if I splurged on a new car every now and again, Id be fine...

Um, my brother barely lives on 50k/yr in west Virginia. He cant afford medical insurance, his teeth are rotting (cant afford dental work), and he calls me every once in awhile needing a gas card to get him to his job to hold him over until the next paycheck. Something like a car repair or a medical bill, or anything unexpected throws him on the rails.

[Anonymous]

Anonymous wrote:

Anonymous wrote:$20M. DH is 40, I'm 30. 3 kids. We're half way there.

Why is he so much older? Was he married before?

What a bizarre question! I’m a different poster. DH and I are 9 years apart, neither of us were married before. We have a net worth of about $4-5 million

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

given I'm 46, I figure I got another 40 years I could spend 25K a year form the principal plus the 50kinterest would be 75K a year. totally livable wage. and by the time i'm dead the original amount would be close to zero.

now granted I would not be able to live in the DC area, but i'd be happy out of this area anyhow..

more than 1mill would be better, but I'd be able to it on one mill


lol.. yes.. or just use one of those retirement calculators.

Wow. You may want to go take some remedial math classes before you make any decisions, PP.

I stand by my choice that I could make 1 million work..

so If I had 1mil and i spend 25K a year that would deplete the one million after 40 years 9dumb method, but it would work.
or earn 5% on one million which would be $50K a year . so if I lived on 50K and never touched the principal. Id be fine as long as I could make 5%. should be easy enough. I'm making 10% on various investments now...

Yes if i spent 25K per year of the principal I would not get 50K per year in interest, the income on interest would get lower each year. but if I did not live in this area., thinking north or south carolina... 50K a year would be easy, no i won't driving around in a brand new Porsche or living on an 80 acre farm. but Id be fine..., and if I splurged on a new car every now and again, Id be fine...

Um, my brother barely lives on 50k/yr in west Virginia. He cant afford medical insurance, his teeth are rotting (cant afford dental work), and he calls me every once in awhile needing a gas card to get him to his job to hold him over until the next paycheck. Something like a car repair or a medical bill, or anything unexpected throws him on the rails.

$50k/year is fine if you already have your housing free and clear in a low property tax area (not around here). Also, no other debts, kids that don't need big financial help plus good health. Also, where can I get guaranteed 5% return every year?