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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][quote=Anonymous]HHI - $350K; $4M Net worth outside of House. Mid 50s with 2 kids still in the house. $10M and we'll both quit our jobs tomorrow. Why $10M? To allow for market fluctuations that might kill the goose. With $10M I can protect factor in a 30-40% dip and still not shit my pants..[/quote] Are you me.? Except my magic number was $5M and I added $2M for 40%+ fluctuations. [/quote] :-). I already have 4 and 5 is within reach (maybe in 3-5 years). However, I still have 2 kids who need to go to college and maybe grad school. Healthcare when we don't work. Aged relatives (parents, grand-parents) and young relatives (nieces) that we need to take care of. I'd spend down most of it that way and give what's left to charity in our wills (pretty much our current will) so if anyone has $6 M to give away, I'll take it. :-)[/quote]
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