How much do you need to retire?

[Sarge]

If I gave you $500,000 could you make it last and never work another day in your life? What would be the minimum amount you could live comfortable on....not live like a rock star....but live comfortable...$500K/$1MM/$2MM...what is the least amount you could get away with and never work again?

[Speedy_Gonzales]

If I gave you $500,000 could you make it last and never work another day in your life? What would be the minimum amount you could live comfortable on....not live like a rock star....but live comfortable...$500K/$1MM/$2MM...what is the least amount you could get away with and never work again?

500k will last me just fine...............my paypal account is rrgray@optilink.us

[Zapper2003]

I voted 1 mil. 500k would be too quick to be gone. Think about it, in 'choice' areas, HOMES are selling for that much and more. Not that I want to go to one of those areas, its just a point at inflation, what will those prices rise to? They'll probably fall, but regardless, I'd love to have 500k in the bank no strings attached, however, at 22 years old, I don't think I could be comfortable the rest of my life on just that much. Oh how it would be so much easier though.

[Sarge]

Well some things to think about. My place is paid for. But I pay over $2000 a month in property tax. Basic services like water/trash pick up etc. Would add say another $500 a month. Your money would have to earn enough interest for you to pay the bills. Don't leave that out. And food would be nice. So if I put $500K in Tbills/Municipal Bonds what ever and got 7% I would make $35,000 dollars a year minus the 15% income tax ( you should be able to wipe out)....but could you make it forever on the original nest egg of $500K and live off the $35K per year income it generated?

[1MileCrash]

$2 million. inflation...a weak dollar...rising costs of domestic services and goods...a million dollars just isn't what it used to be.

[dlmeadows]

1 mill and i would be set probably could do it on 500k if I wasnt renting and already had a home in the process of being paid for.

[JwMonE99]

Well sarge sence your offering me to retire, I would take 500,000. Its enough for me I suppose, just let me know when you need my bank account number...

[Danger731]

Depends, if I didn't have a good pension the more the better. I am over 20 years in the service so health care and beer money is covered, wife has 10 to go until federal retirement.
Really don't need to worry about it. I'de take a couple mil so I can pay someone else to do the oil changes.

[Tyler_LS1]

well considering im 19 and have a long time a head of me (knock on wood)

I picked $1 mil.

[Speedy_Gonzales]

Well sarge sence your offering me to retire, I would take 500,000. Its enough for me I suppose, just let me know when you need my bank account number...

he still ant transferred funds to my paypal account

[nhraformula]

1.5 million.
half million would go on a house around the area i live in, mostly the rest out go to the bank.

[Too Fast]

Well some things to think about. My place is paid for. But I pay over $2000 a month in property tax. Basic services like water/trash pick up etc. Would add say another $500 a month. Your money would have to earn enough interest for you to pay the bills. Don't leave that out. And food would be nice. So if I put $500K in Tbills/Municipal Bonds what ever and got 7% I would make $35,000 dollars a year minus the 15% income tax ( you should be able to wipe out)....but could you make it forever on the original nest egg of $500K and live off the $35K per year income it generated?

Your property taxes are $2k/month????????????????????? Good god, man, if you can afford that (and the house/property that goes with it) then I will pm you my account number so you can pay my way too.

[ArcticZ06]

Id say 2-3 million. Cant forget about inflation. 500k isnt going to be worth shit in 20 years. Im 26 so lets say I live another 60 years..... 500k wouldnt cut it if you're goin off lets say 50k a year. I suppose it would be a lot easier if you pay off your house. Just depends on inflation I guess.

[DrMilhouse]

I vote $1 million. That would be to live comfortably. I could do it on $500k, but I think that it would be kind of stressed living (Like paycheck to paycheck style), not comfortable living.

[FuhBreezeE]

$1 mil, with a 1/3rd invested....not living a lavish lifestyle.

[Y2KPewterSS]

$3M

[DrMilhouse]

by the way, my paypal is drmilhouse@comcast.net

edit: This was my 1000th post by the way

[FuhBreezeE]

$3M

High maintenence I see

[1fastcamarosss11]

i said 2 million, i have three kids that need schooling. in 15- 20 years that will be a lot.

[Y2KPewterSS]

High maintenence I see

You wouldn't know it by seeing me in person, no jewelry, shitty clothes etc. Just have expensive hobbies/toys