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

[tonypaladino]

I'd want 10 Million. 5 to be invested in conservative investments to live off the interest, and $5 for my bankroll.

[renodoc]

This is what happens when you are in college.

Dude, you need at least $5M. Unless you aren't planning on living very long. Do the math. You'd be lucky to get 3% from a bank right now.

[BradleyT]

Anyone who says $1,000,000 and doesn't already own a home is on crack.


$4,000,000 (properly invested) is the correct answer for most people.

[lacticacid]

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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.

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Its so insanse to me that youd need 100K/year. You must live a very expensive lifestyle!!

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pre-tax 100k/year gets you two cars and a house in most areas.

I think I'd need about 6 million if I couldn't work again. But for much less I'd be back in grad school and not working for a while.

[Reef]

3 mil after taxes- I'd buy 2 Mil worth of investment property right off the bat and stick 800k in a Cd/mutual fund

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If you can't work again then you cannot put your money in anything near this risky because a downswing would be so disastrous; you couldn't make near 10%

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Why couldn't you work again? He said you'd be 25-35 or something like that. I'd say $750K would be good for me. With 30% interest (trust me, i have my ways), i could live on $200K a year, and grow my worth $25K a year.

[splashpot]

If I moved to Thailand, I could probably live off of $50,000.

[astroglide]

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Its so insanse to me that youd need 100K/year. You must live a very expensive lifestyle!!

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IS IT INSANE BECAUSE YOU LIVE IN THAILAND?

ARE THINGS CHEAPER IN THAILAND?

HOW INSIGHTFUL

[antidan444]

I'm pretty sure I could do it comfortably for $3 million where I live (Western Maryland). I could buy a very nice house for $400K, and then live off the interest from the rest of the money, which I think would be enough to withstand cost-of-living increases (especially since my house is paid for). It may even be possible on $2 million, but I'd prefer $3 million just to be a little more safe. For what it's worth, a nice house (and a few luxury things ... big-screen TV, spa, pool, game room) is all my wife and I would really want.

Obviously, as other posters said, this answer changes A LOT based on where you reside.

(Edited out the "and how old you are" since I forgot that was defined by the OP.)

[moondogg]

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If you can't work again then you cannot put your money in anything near this risky because a downswing would be so disastrous; you couldn't make near 10%

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Why couldn't you work again?

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Because then you wouldn't be retired?