2.5 million and I quit my job. 100k/year passive income. I’m learning to cook, probably adopting a child or 2.
$300,000
High yield savings account would get you a little over 1k$ a month from interest alone. I already live on less than that. I’d just live off the interest.
The answer is ‘it depends’ How long do you expect to live and what do you expect to do in retirement. The answer for a 30 y.o. is much different than that of a 65 y.o.
2 million are enough for me.
But if you give me 5 million, I start working again by taking 2 out of the 5 and build a small business from it, just for fun.
24 mill USD equivalent:
400000 that I can use every year until I’m 100 (I probably won’t live that long, so my kids get whatever remains). It’s much more than I need, but I want a lot of leeway to maneuver whatever the financial markets burp up. Then sum should allow for positioning in a manner that makes sure the fund itself isn’t eaten up by inflation.
I first thought 12 mill, but realized that my anual “salary” would be of diminishing value due to inflation, so I doubled it to be on the safe side.
3 thoughts of school:
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Actually never working at all from my 30s onward, probably around 10 mil €.
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Quitting my job and getting into lazy investment to get a passive income, around 1.5 mil €.
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Playing into me being passively suicidal, if I loose my job and the number hits zero, I’m just killing myself. Technically that would also mean I don’t have to work again.
Number 3 is the most realistic one.
- Playing into me being passively suicidal, if I loose my job and the number hits zero, I’m just killing myself. Technically that would also mean I don’t have to work again.
Dude, if you really want to do that, don’t waste your life pointlessly: rob a few banks and give the money to charities, Luigi a few billionaires, and play cat-and-mouse with the cops until they find you, and then make sure they suicide you, not you.
Nah man. Finding your peace in a forest, surrounded by nature with nothing to your name, that’s where it’s at.
I agree. I live out in the sticks myself - not with nothing to my name, but I certainly haven’t saved anything for old age - and I have few needs. But this is not the thing OP was envisioning. And while I think it’s a terrible idea on its face, I just remarked that they could off themselves more productively if that’s what they really wish.
Technically that would also mean I don’t have to work again.
But if you are dead, you will never feel comfortable again. Technically that does not fulfill OP’s question. 😉
What is more comfortable than returning to the void from whence we’ve came?
Literally everything in existence. Comfort, as well as discomfort, are things not conceivable nor experienced in the void of nonexistence, since, y’know, they don’t exist (along with everything else).
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Impossible to answer with all this AI BS that’s about to implode & take down a significant chunk of the economy with it.
20 or 25 times my annual expenses. There is an entire movement on the Internet dedicated to save up and then never work again. FIRE is the Google term if you’re curious.
My work is basically what I’d do with my free time anyway. If I had a mill in the bank, I’d just have better cameras and more woodworking tools than now, and worry slightly less about selling the products thereof, but I’m pretty frugal as it is so I don’t work much and have a pretty easy life already
2 million euros would be enough for me to live comfortably for 50 years.
I’m shocked at the huge sums people are posting. I agree 2 million is loads. 600k for a house then the rest is 2k per month of disposable income for 60 years.
600k for a house could also mean 15k in yearly taxes or more depending on where you live.
right, here in Australia, where I am annual property taxes are AUD$1800.
3 million USD. I’d still run my farm but I wouldn’t work my job job anymore. Just means I’d upscale the farm a small amount and give away a larger percentage of my products. 3 is genuinely low but I have very little debt as is and a reasonable lifestyle.
1 mil at 6 percent is 60k very doable.
General rule of thumb based on historical studies is that you can safely withdraw more like 3-4% to have a safe portfolio. Though, you can cheat this if you’re able to find more work or drastically reduce spending during recessions.
1 million € would make for pretty comfortable living. Though I suppose I’d need to put it somewhat higher, because otherwise I’d be tempted to do part time work once in a while, so maybe 1.5 million.
5-10 million would probably do it without working on investing it anywhere (i.e. basic savings account or paying someone to do it for me) given I’m hoping to have at least another 50-60 years in me, and don’t want to stop doing things I enjoy.
i retired at 35 and am now 60, i have nothing like what people say they need here. i have been investing i was 19, i have a gf, a modest cottage in a small town in Australia, no debts and we travel thru SE Asia 8 months a year.
There’s people living on way less with really interesting lives out there who don’t work.
The late game is the problem for me, how do you’ll manage it?
manage what ? sorry I’m not sure i understand?
I think they mean once your age related issues catch up.
move to any country other than the US
Can still be hard.
Then that’s what the millions will solve.
