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#1
11-08-2005, 01:04 AM
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Re: How much money would you need to retire right now??
[ QUOTE ]
[ QUOTE ] A married couple both working as public school teachers probably make an amount similar to this. Do you think most teachers live a very expensive lifesyle? [/ QUOTE ] Wtf? That is an insane comparison. How can you compare a situation where you are have regular jobs and need to be saving up a large portion of your money for the future to a situation where you have millions in the bank and whatever you "pay yourself" is 100% disposable? This isn't like having a $100k salary. This means that you are literally spending $100k a year. That's about $275 a day. You don't think you can by spending an average of less than $275 per day on food, insurance, entertainment, etc.? That's a huge amount. [/ QUOTE ] Your comparision is flawed in that most of your money isn't disposable income. You still have to grow your princple to prevent inflation from eroding your buying power. You still have to pay taxes on that growth. You still have to buy health insurance(look the prices for 50-60 year olds with a family). I am sure you don't better than a salary man but not by much. 
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#2
11-08-2005, 04:47 PM
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Re: How much money would you need to retire right now??
[ QUOTE ]
[ QUOTE ] A married couple both working as public school teachers probably make an amount similar to this. Do you think most teachers live a very expensive lifesyle? [/ QUOTE ] Wtf? That is an insane comparison. How can you compare a situation where you are have regular jobs and need to be saving up a large portion of your money for the future to a situation where you have millions in the bank and whatever you "pay yourself" is 100% disposable? This isn't like having a $100k salary. This means that you are literally spending $100k a year. That's about $275 a day. You don't think you can by spending an average of less than $275 per day on food, insurance, entertainment, etc.? That's a huge amount. [/ QUOTE ] As I said before... [ QUOTE ] I think even looking at this situation in terms of X dollars per year is wrong. I think far to many people focus on paying their bills and maintaining their lifestyle or whatever rather than accumulating wealth. [/ QUOTE ]
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#3
11-07-2005, 12:50 PM
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Re: How much money would you need to retire right now??
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[ QUOTE ] 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. [/ QUOTE ] Its so insanse to me that youd need 100K/year. You must live a very expensive lifestyle!! [/ QUOTE ] 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.
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#4
11-07-2005, 01:03 PM
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Re: How much money would you need to retire right now??
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Its so insanse to me that youd need 100K/year. You must live a very expensive lifestyle!! [/ QUOTE ] IS IT INSANE BECAUSE YOU LIVE IN THAILAND? ARE THINGS CHEAPER IN THAILAND? HOW INSIGHTFUL
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#5
11-07-2005, 03:36 PM
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Re: How much money would you need to retire right now??
[ QUOTE ]
[ QUOTE ] Its so insanse to me that youd need 100K/year. You must live a very expensive lifestyle!! [/ QUOTE ] IS IT INSANE BECAUSE YOU LIVE IN THAILAND? ARE THINGS CHEAPER IN THAILAND? HOW INSIGHTFUL [/ QUOTE ] [img]/images/graemlins/heart.gif[/img]
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#6
11-06-2005, 11:52 PM
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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
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#7
11-06-2005, 11:55 PM
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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.
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#8
11-06-2005, 11:58 PM
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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.
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#9
11-07-2005, 12:03 AM
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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.
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