How much money would you need to retire right now??
 

Lots of variables here, I suppose, but just for argument's sake, let's say you're between 25 and 35, no outstanding school loans or anything. No kids (but maybe married).

How much $$ would you need to have in the bank to feel comfortable quitting your job and "retiring". (I think we probably also have to assume that you're not planning on making any substantial additional poker income...otherwise, I could technically "retire" right now.)

Re: How much money would you need to retire right now??
 

Enough money to make me $100,000 a year from the interest alone... let's say I invest it at 5% (conservative estimate) I'd need $2 million then.

But $1 million would probably be good enough anyway.

Re: How much money would you need to retire right now??
 

I think this thread has been done before. But assuming I will have no other income for the rest of my life (hopefully 60+ years) I would say 5 million minimum, to be comfortable. And I don't want/need to live an expensive lifestyle like a lot of people on here do.

edit: if this money will not be taxed, probably more like 3 mil

Re: How much money would you need to retire right now??
 

40 million.

Re: How much money would you need to retire right now??
 

[ QUOTE ]
I think this thread has been done before. But assuming I will have no other income for the rest of my life (hopefully 60+ years) I would say 5 million minimum, to be comfortable. And I don't want/need to live an expensive lifestyle like a lot of people on here do.

edit: if this money will not be taxed, probably more like 3 mil

[/ QUOTE ]

Thats about what I came up with.

Re: How much money would you need to retire right now??
 

A million would be plenty. I can leave under my means easily.

Re: How much money would you need to retire right now??
 

yeah i'm sure this thread has been done already, but this is OOT -- most threads have been 'done' in some respect. I came up with around 2Mil if i didn't need to live fancy...but realistically assuming having to put kids thru college some day, i'd like 4 - 5 Mil.

Re: How much money would you need to retire right now??
 

definitely don't need 5 million.

you could just take 1 million and live off of interest from CD's.

to quit work forever, i think i'd need a million to be really comfortable, but i could get by on much less.

Re: How much money would you need to retire right now??
 

It would be tough for me to give up the slight chance that I get really rich through my own success. However, it would be even harder to give up the opportunity to do nothing forever. I would say 4-5 mil seems right, but if I was offered 2 mil and could retire and just manage my money I don't see how I could turn it down.

Re: How much money would you need to retire right now??
 

[ QUOTE ]
definitely don't need 5 million.

you could just take 1 million and live off of interest from CD's.

to quit work forever, i think i'd need a million to be really comfortable, but i could get by on much less.

[/ QUOTE ]

What is the best interest you can get? I doubt it as high as five percent thats what? 30k a year give or take.