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Reply to "how much money would you have to have in the bank to feel like you never needed to work again?"
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[quote=Anonymous][quote=Anonymous]And what's your personal situation (life stage / dependent kids etc) [/quote] have $3M now, both of us are 40 yo and working full-time, 2 young kids. all the 401ks, 529, vanguard, but I/O mortgage on the house which has 30% equity down. not expecting any inheritances. would need $10M well-invested by age 60 to feel we could live off the annual interest and various retirement vehicles. we also expect high tax rates by then, higher interest rates, high inflation, and an even larger welfare economy in the U.S. and elsewhere. it won't be pretty, I feel like the best we can do for our kids is have well protected wealth. and even then the gov't will try to take half at each juncture. we suspect social security will be semi-bankrupt by the time we are 65 or will fully convert to a redistribution model for the poor from the working income people. [/quote]
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