POLL What's the minimum amount of money it would take you to retire immediately?

[xpuctaqpGT]

Stoops retirement brings this to mind. Imagine someone had a briefcase (or small wheelbarrow) full of money. You get to keep the money, tax free, but you can never "work" again in your life. Any businesses that you own would still be yours but you would no longer be involved in any of the day to day decisions. What would it take to make you just walk away...the minimum?

 

[xpuctaqpGT]

I put $500k. Given how much I currently make, given how many years until I turn 65, and given how much I already have in 401k/403b/other stuff, $500k would allow me to continue to live at my current lifestyle or better until I die.

 

[romeo212000]

Would have to be equal to or more than what I feel I ought to be able to save for retirement. Probably more than a million, but less than 3.

 

[ralphiewvu]

10 mill or more. There's something about having that in the bank that comforts those more.

 

[cmc_rebar]

I already have all the money I will need to live out my life, I continue to work because I am very good at what I do, and I enjoy what I do. I put more than $10 mill because I always go big or go home

 

[Edisto_Tiger]

2 mil and I'm headed to Disney World!

No, not really. I hate Disney World.

 

[AlaskaGuy]

$2 mil. I'm cheap.

 

[pitman]

Before Obama 2mil. After, 10mil just to afford Obamacare

 

[romeo212000]

Before Obama 2mil. After, 10mil just to afford Obamacare

Ain't that the truth? Affordable healthcare my ass.

 

[Cowboyinexile]

$3.50

 

[Manster7588]

Is this before or after taxes?

 

[romeo212000]

Is this before or after taxes?

Ah. Good question. If before taxes we're talking 5 mil easy.

 

[Chewbaccer]

You give me 2 million and I'm fishing and playing poker every day for the rest of my life.

You give me 1 million and I'll work a cushy part time air conditioned job for around 20 hours a week.

 

[Beaker]

1 million would be plenty with good investments. You could easily pull down 70-100k a year, and that's plenty for me

 

[Manster7588]

Ah. Good question. If before taxes we're talking 5 mil easy.

That's what I'm saying, a few years ago I figued about 6 to 7M would keep our life style going, I'm now thinking 3 to 4M. My wife has two hobbies. 1 Shopping, 2 International Travel. It's gonna take a few dollars to keep that up.
Interest on 3M and our current savings retirement plans should easily out last the wife and I.

 

[Manster7588]

On second thought if the wife goes early, I'll need much more, because I'd end up making it rain in Vegas Strip clubs.

 

[romeo212000]

That's what I'm saying, a few years ago I figued about 6 to 7M would keep our life style going, I'm now thinking 3 to 4M. My wife has two hobbies. 1 Shopping, 2 International Travel. It's gonna take a few dollars to keep that up.
Interest on 3M and our current savings retirement plans should easily out last the wife and I.

I'm thinking 3 mil after tax would be enough with interest and safe investments like land.

 

[Manster7588]

I'm thinking 3 mil after tax would be enough with interest and safe investments like land.

Purse shopping and world travel gets expensive.
All I'll need is a nice bass boat and golf time. Wife will financially kill me.

 

[romeo212000]

Purse shopping and world travel gets expensive.
All I'll need is a nice bass boat and golf time. Wife will financially kill me.

I would want to travel, but I still think I could make enough off investments to live about as comfortably as I'd like.

 

[BTHOtu]

20 bucks and a hand job and I'll quit first thing in the morning