After the Big WinPrevious TopicNext Topic

I figure the average person over the course of a lifetime is lucky to make a million dollars, so for me it would be 10 million, but I would just be as happy with 5 million. I feel that anything less than a million is definetly not enough to retire on, but any win is better than nothing.

 GOT MY SHADES ON WATING FOR THE SUN TO SHINE MY WAY!

I choose a minimum of 5 million. Maybe even something between 2-5 million at least. Of course more would be better. But I wouldn't be picky.

I think 5 million should do the trick!!

I picked 10M since at that point one could be able to live comfortably just by making a measly 5% return. Sure with 5M you could do well also with the same rate with still having a regular six figure income but you'd probably want to do something more to help supplement it, at least if you're somewhat young still because if you expect to live for another 50 or so years that probably won't cut it in 2058 if we make it that far. Then again the 10M might not cut it either with that low rate of return though you'd still have more room to pad the principal...

I don't start playing MM until after it reaches 15M+ after taxes though and the bigger the jackpot the better!

I would have to be at least 10 mil for me to quit my job. 5 million would not last me the rest of my life I think.

I picked 5 million. Of course, that's quitting a job working for someone else. I would still start my own business.

after doing some serious cyphering one night. I figured a 30 y/o person could live off 3.3 million for the rest of their life in the rural midwest.  probably less if you wanna be tight with money.  105k a year is a nice chunk.

give the rest to friends and family.

I figure the average person over the course of a lifetime is lucky to make a million dollars;

This may be correct for people Born in the 50s but after that I don't believe thats true since to make a Million its only 50k for 20 years or you can break it down even farther buy its only 25k for 40years and with C.O.L. your need a lot more in the future. For me 2 million will be more then enough,

I think you have to consider exactly what you are giving up when you quit your job.  Yes you may not be happy with your salary but most people get "extras" that are actually quite invaluable.  For example, most people have some sort of health care plan, dental, vision, 401K, life insurance, AD&D, etc.  If you purchase all of that on your own you will have one heck of a monthly bill.  That's why it would take at least $15 million for me because I would not only be buying insurance for me but my children and spouse as well.  God forbid something happens to one of us....even with insurance the costs can be crippling.  God love the good old US of A *sigh* 

For me to quit my current job, I would want $1.6 million, and then I would move.

$600,000 housing.

$1,000,000 investment income to provide a stable revenue stream.

That said, I would still go get another job immediately after I moved, so I am not sure if that is what you mean.

For me to quit my job, and not get a serious one to replace it, I would need $3.3 million, so I voted for $5 million

$80,000 car

$120,000 travel.

$600,000 housing.

$2,500,000 investment income.

I only play Powerball, and it has a minimum prize greater than $3.3 million.

I think people underestimate how much their job is a part of their social life. Additionally, a lot of the bad aspects of a job come from needing the money and being concerned about layoffs, etc. If you don't need money, working is not nearly as stressful. I know there is a huge difference just from living paycheck to paycheck to having 6 months pay saved. I suspect that after a year I would get bored and want to do something with my daytime.

I would probably do volunteer charity work 2 days a week to be part of the community.

I would then also probably work a part time computer geek job 2 days a week.

I'm assuming that's 1.6 after federal witholding taxes are taken out, right?  Don't forget to save $$$ for additional taxes come April 15 ;)

Yes, your assumption is correct.

The poll asks "How much money would it take (after taxes) for you to quit your job?"

I always calculate taxes at full federal and state, not just what they take out up front.  :)

Looks lis $5,000,000 is the current winner.   If we are talking about take home  after fees and taxes, then $5,000,000  would set me up something great.  Of course Anything will help me right now.

Me too, a lot of people don't seem to realize that you may owe an additional 10% in April and a lot of winners have gotten in trouble because of it.

These are some mitigating factors a person should consider:

1. Age: are you younger or are you older?

2. His or her standard of living at the time of the windfall, and the continuance of that present standard of living or the progression toward a higher standard of living.

3. Life expectancy based on actuarial data and genetic influences. Remember, death is an equal opportunity employer.

4. Investing conservatively (based on age) or risk-takers (for the young winners).

5. Family expectations (financial bailouts) for those winners who want to help their families, but bearing in mind, are not required to do so by law.

Finally, these are my opinions and they are not meant to reflect an accurate or an appropriate financial assessment for a winner.