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Posted: 1/22/2008 2:37:58 PM EDT
Opinions wanted:
At your current age, how much money would you need right now to retire and never have to work another day in your life? What would it take to buy you out? With the understanding that you CAN'T work again, EVER, and there's no going back to the place you got the retirement fund and ask for more. Lump sum value, one time, right now. How much would YOU need? If it were offered to you right now, would you take it? For 10 million cash, AFTER all taxes are paid, I'd take the gamble. But with my luck, someone will invent a life extension drug that gives you an infinite potential lifespan, so in about 50 years I'm broke but healthy.  I'm 42. CJ |
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Posted: 1/22/2008 2:40:51 PM EDT
[#1]
50 million.
Hookers are not cheap. |
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Posted: 1/22/2008 2:41:27 PM EDT
[#2]
10 million after taxes invested wisely would net an easy 400-600K. 400-600K after taxes will turn into 275ish-400ishK. If you can't get by on that, you need to re-evaluate your lifestyle.
I'd quit right now for 750,000. |
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Posted: 1/22/2008 2:42:10 PM EDT
[#3]
Considering I'm 18 and haven't even entered the workforce, tens of millions.
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Posted: 1/22/2008 2:42:54 PM EDT
[#4]
4 million and I could retire easily.
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Posted: 1/22/2008 2:44:11 PM EDT
[#5]
18 X your annual income or more...
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Posted: 1/22/2008 2:48:39 PM EDT
[#6]
Two million.
If you do it on one million, you run some serious risks.... A 6% rate of return on one million is $60,000. Thats respectible. One problem: Inflation. $60,000 today may be reasonable, but its actual purchasing power in 10, 15, 20 years is CONSIDERABLY less. If you are 55 now, and live to 85, that $60,000 income 30 years later is a dog-food subsistence level income. if you ever draw on principle your income falls dramatically faster. $1,000,000 doesn't last long when its 2038 and you are withdrawing $200,000 a year..... The general rule is you can take about 3% of your nest egg. If you have a lump sum of two million and it makes 6 or 7% average, you have $120-140,000 in income. You actually withdraw $60,000 to live on, and plow thee remainder back in. Your nest egg continues to grow, ensuring your 3% annual withdrawals grow as well. Two million is a reasonable, realistic lump sum target for most. Anything less that that, especially given retirement time spans that can run 30 to 40 years, is risky. |
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Posted: 1/22/2008 2:48:41 PM EDT
[#7]
I could comfortably live off the interest of 10 million (re-investing most of the interest).
My boss made 30 million last year and still works 
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Posted: 1/22/2008 2:51:50 PM EDT
[#8]
Assuming I can get a decent rate of return (5-6%), I would be fine with 4 million.
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Posted: 1/22/2008 2:53:34 PM EDT
[#9]
10 million. I still have 2 very young kids to raise and put through school.
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Posted: 1/22/2008 2:53:54 PM EDT
[#10]
1 billion
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Posted: 1/22/2008 2:55:01 PM EDT
[#11]
This would easily work for me. |
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Posted: 1/22/2008 2:55:16 PM EDT
[#12]
1 million US dollars.
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Posted: 1/22/2008 2:57:10 PM EDT
[#13]
2 million, and I'd start thinking seriously about it.
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Posted: 1/22/2008 2:57:58 PM EDT
[#14]
+1 I have to buy ammo too, while I retire. 
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Posted: 1/22/2008 3:00:57 PM EDT
[#15]
$20 million after taxes.
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Posted: 1/22/2008 3:03:03 PM EDT
[#16]
That fits my current line of thought, but as far as luck goes, I seem to have married Murphy's ugly daughter. I better bump my number up to $4 Million... |
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Posted: 1/22/2008 3:03:16 PM EDT
[#17]
same here, i've lived the rest of my life on much less. |
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Posted: 1/22/2008 3:04:41 PM EDT
[#18]
2 million
Lifetime supply of hookers and blow Guarantee they wouldn't find my wifes body priceless 
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Posted: 1/22/2008 3:22:28 PM EDT
[#19]
Four million.
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Posted: 1/22/2008 3:23:28 PM EDT
[#20]
3-4 million would probably do it.
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Posted: 1/22/2008 3:24:25 PM EDT
[#21]
Adjusting for future inflation... eleventy billion.
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Posted: 1/22/2008 3:33:46 PM EDT
[#22]
$5,000,000 at least.
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Posted: 1/22/2008 3:35:53 PM EDT
[#23]
I could do it with about 1.5 million. I'm 46.
I would not take it, however. I like working. In fact the $1.5 million would give me a better lifestyle than I am currently living. At my current lifestyle (assuming 0 inflation or interest meets inflation) I only would need about $850,000. Yeah, I live on the cheap. |
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Posted: 1/22/2008 3:38:41 PM EDT
[#24]
Yep, but I still feel good when I find a $20 in my pants pocket after I take them out of the dryer. |
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Posted: 1/22/2008 3:39:19 PM EDT
[#25]
You fellows are grossly over-estimating what it takes.
 The secret is to have no debt. Pay off your home. Learn to live within your means. It is great to be able to enjoy life and go shooting several times a week. 
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Posted: 1/22/2008 3:39:23 PM EDT
[#26]
I'm 28 and I could do it with 2 million. That's $120,000 a year at 6%. Seeing as how I can live comfortably on $50k a year for the near future I think reinvesting $70k is plenty.
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Posted: 1/22/2008 3:39:53 PM EDT
[#27]
I could do it on $2,000,000. I am an investment advisor and I could make that work for me for the rest of my life (I am 28 years old).
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Posted: 1/22/2008 3:40:21 PM EDT
[#28]
$4 million
That would give me enough after-tax income to live on comfortable and continue to save and invest to beat inflation. I plan on being around for another 50+ years. |
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Posted: 1/22/2008 3:41:02 PM EDT
[#29]
easy... I'd buy 10 houses, and use an agency to rent them out for me.
then go live in my machineshop/ranch and roll my own toys all day.  sorry, didn't give you an ammount. A cool million would do it. 750,000 for 10 houses, and 250,000 for the machineshop/ranch (fully outfitted with materials) $600 x 10 = 6000 per month = 72,000 a year, enough to buy another house every year. Or one in cash every 2 or 3 years, and still live good. |
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Posted: 1/22/2008 3:41:08 PM EDT
[#30]
Thanks guys, I am looking forward to working until I drop!
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Posted: 1/22/2008 3:41:19 PM EDT
[#31]
3,300,000
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Posted: 1/22/2008 3:51:00 PM EDT
[#32]
You and me both. |
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Posted: 1/22/2008 3:56:40 PM EDT
[#33]
Are you counting socialist insecurity?
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Posted: 1/22/2008 3:58:23 PM EDT
[#34]
Bump for more feedback/pointers.
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Posted: 1/22/2008 3:58:34 PM EDT
[#35]
I'm just about 29y.o., and with a good investment portfolio, I could do it for probably $2.4mil.
Granted, it's not the Ferrari and Cigarette boat lifestyle, but I could pay off my current house and boat, buy a new truck, and put my lady through college, and live just fine off the interest. That's really all I need. However a matched set of custom fishing rods would definitely be in order |
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Posted: 1/22/2008 4:01:56 PM EDT
[#36]
$750,000 would do it quite well
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Posted: 1/22/2008 4:02:57 PM EDT
[#37]
To retire today I would need 10 million after taxes. Being frugal and having to deal with insurance and inflation I am figuring on living about 45 more years. I am 33.
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Posted: 1/22/2008 4:04:16 PM EDT
[#38]
$500,000 I don't need much.
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Posted: 1/22/2008 4:05:30 PM EDT
[#39]
I'm 40 and could do it with $2M. At a modest 5% return, I can live on $100K/year and never touch the principle. With more optimistic returns, I could grow the principle while living on that same $100K/year. If necessary, I could live on substantially less than $100K/year for quite some time while growing my principle. By the time the interest on $2M won't pay for a year of living comfortably, I'll be old enough that dipping into the principle won't be that scary.
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Posted: 1/22/2008 4:07:00 PM EDT
[#40]
$1.7 million with no debt. That throws off about $68,000 per year tax free. Then add SS
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Posted: 1/22/2008 4:15:49 PM EDT
[#41]
I've taught myself to live cheap.
So not much. Already own my homestead. GM |
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Posted: 1/22/2008 4:18:47 PM EDT
[#42]
$800,000
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Posted: 1/22/2008 4:22:52 PM EDT
[#43]
3-5 million. Next year maybe
JK
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Posted: 1/22/2008 4:25:38 PM EDT
[#44]
How much money is enough?
ALL OF IT.
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Posted: 1/22/2008 4:31:07 PM EDT
[#45]
after .gov get's their piece, i would stop working for $100 million.
yeah, it's a lot, but this is ARFCOM! |
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Posted: 1/22/2008 4:40:27 PM EDT
[#46]
Id do it today for 1 mil AT. Might be a little hairy there for a while, but after the economy crashes, lots of people are gonna be hurtin, not just me. I can get by in a shack in the MT backwoods if I need to.
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Posted: 1/22/2008 8:00:25 PM EDT
[#47]
$2 million. $1 million for savings and another $1 million to open my own ultimate gun shop/store. Income from that is what I would live on.
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Posted: 1/22/2008 8:03:34 PM EDT
[#48]
I think that if someone were to offer me $100 million I'd quit college and never work, but I doubt that's happening to back to the books.
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