How much money...

[thatpfunk]

... would you have to accumulate/win/inherit/steal, etc to retire on?

[pshreck]

I think you should specify that we can't use it towards poker (which should make numbers much lower).

I would retired on around 2.5 million, right now at age 22.

[thatpfunk]

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I would retired on around 2.5 million, right now at age 22.

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That seems absurdly low.

[pshreck]

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I would retired on around 2.5 million, right now at age 22.

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That seems absurdly low.

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Haha, are you serious? I really love how out there 2+2 is. Im sure saying that I'm only in the 98th percentile of intelligence is also 'absurdly low'. Its 25 years of 100k a year, and you can invest a ton of it, which will only make it higher than an equivalent of 100k a year over time (adjusted for inflation even).

[on_thg]

$5 million. I figure I can earn enough income on that to live a very nicely upgraded lifestyle, and still invest something for growth.

[Yobz]

At minimum 3-4 mil or so, but I expect to make more than that in my lifetime (hopefully per year at some point) /images/graemlins/smile.gif

[tolbiny]

1.25 million after taxes.

25 yrs old (i would still supplement the income part time through poker-10hrs a week)

[wacki]

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... would you have to accumulate/win/inherit/steal, etc to retire on?

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I'd do my job for free. The only way I'd do something else is if I had enough money/power to influence policies/companies. In that situation, my time would be better spent doing something other then research. So to answer your question, hundreds of millions would probably do the trick.

[Evan]

For the sake of clearity, is this before or after taxes?

[LotsOfOuts69]

Are you kidding, I would retire for 1 million, probably less, you could put that in a CD at 5% intrest and make 50,000 a year without ever touching the million.

For the guy that said 2.5 mil is low, enjoy working for the next 40 years.

[Evan]

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Are you kidding, I would retire for 1 million, probably less, you could put that in a CD at 5% intrest and make 50,000 a year without ever touching the million.

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Where do you live?

[thatpfunk]

After taxes...

[YourFoxyGrandma]

Something around $2 mil. I don't really want to retire any time soon, though.

[Diplomat]

I'm with you here, my number is quite high; for the purposes of the question, I'll estimate around 20M. Of course at that point I'd just switch careers. It depends how you define retirement.

P.s. for those of you that have said roughly 1-2M, I'll assume you are planning on being single, renting for life, and relatively poor. Time value of money? Inflation? Cost of children? Any of this ring a bell?

-Diplomat

[shant]

I am 24. I have thought about this before. I would say close to 2.5 - 3 million after taxes.

[david050173]

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I would retired on around 2.5 million, right now at age 22.

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That seems absurdly low.

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Haha, are you serious? I really love how out there 2+2 is. Im sure saying that I'm only in the 98th percentile of intelligence is also 'absurdly low'. Its 25 years of 100k a year, and you can invest a ton of it, which will only make it higher than an equivalent of 100k a year over time (adjusted for inflation even).

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100K in 30 years is going to be peanuts ( look at what 100K was in 1970). You have to invest 3-4% of your income every year just to keep up with inflations which only will leave you with 2-4% (must finacials planners use 6-8% as reasonable long term rates since you can't stick all your money in stocks). Is 50-100K a year a good income. Sure. But your not living the high rollers life. Note that there are all sorts of fun trade offs (no social security, lower tax rates, have to pay for own medical,...) which makes comparing salary to investment incoms not exactly a one to one.

[groo]

$10,000,000 with a 10% return gives you $1,000,000/yr. Aprx 40% will go to taxes and you need to reinvest about 50% to make up for inflation, leaving you with $100,000/yr to live on.

The 50%, of course is high when inflation is low, but is low when inflation is high. The 40% number is high if you have many tax deductions, but if that is where your money is coming from, you may not have many. In this model your "bankroll" will grow, but on average will not outpace infaltion.

[TStoneMBD]

fully retired? that would be expensive. if you want to just be semiretired 1-2million should be enough. you can live off the interest of that money pretty well while having enough net worth to use leverage to create far more wealth.

[thatpfunk]

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Something around $2 mil. I don't really want to retire any time soon, though.

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That is point of the post... So you have 50-100k a year, what the hell are you going to do? You can't splurge on expensive vacations or anything.

I want to know how much would make you WANT to retire?