How much money do you have to win on the lottery to retire?

Reply #21

markp1950 — Tue, 24 Aug 2010 10:30:54 GMT

There is a point where is is BETTER to quit work and manage your investments. And that number is probably much lower that you think.

MarkP

Reply #20

cajunken — Tue, 24 Aug 2010 03:14:41 GMT

between $450,000-$750,000

Reply #19

markp1950 — Wed, 11 Aug 2010 06:20:17 GMT

I don't need to be rich. Although I wouldn't complain if I was.

MarkP

Reply #18

badboy00z — Wed, 11 Aug 2010 06:02:26 GMT

http://www.cleveland.com/business/index.ssf/2010/08/how_rich_is_rich.html

Reply #17

markp1950 — Wed, 11 Aug 2010 03:56:25 GMT

I found the politics at work so bad, I would rather eat rice and beans and live in a trailer than go back to work. So my needs are VERY low. As long as I can make a couple of hundred per day I would be very happy.

Of course I do have nice plans for millions, but I also have plans for 200K. Or even 100K.

Wis Supercash, $350K ooooo weeeee!

Say $200K after taxes.

On $100K. Buy I have enough for 1,200 shares of FCX, which means flip 300 shares per day, at least $300 per day in the good.... [ More ]

Reply #16

PERDUE — Thu, 05 Aug 2010 18:11:53 GMT

342 Million will do just fine. I have plans and the 342 million will just about foot the bill. Until then I'll just keep doing what works for me now.

Reply #15

ttech10 — Thu, 05 Aug 2010 16:44:48 GMT

The current Powerball would be near perfect. It wouldn't be anything too big that gets a lot of media attention and you could take out $1,000,000 for immediate spending and then have ~$9,000,000 left to invest, which could give around $85,000 yearly. If rates end up going up then an increase of .5% would push that up to over $100,000 a year and really make for a nice living.

As you said, don't need to be Bill Gates rich. Give me that $1,000,000 startup and then $85,000 a year and I'll be... [ More ]

Reply #14

savagegoose — Thu, 05 Aug 2010 16:12:49 GMT

yeah saying 2 mill would do me; no taxes on winning here, i still ante up more cash at larger 20 mill jackpots. heheh i could bank 18 mill,. and try living off the interest on 2 mill for a while, and when i stuff up , go get another 2 mill tolive off. maybe thre 18 will have grown to 20 again by then :P

Reply #13

TexasDreams — Thu, 05 Aug 2010 13:29:24 GMT

I aagree its all in the preception of how well we wanted to live. The current cash option in powerball would give me that level of comfornt I wanted. I would be debt free and have a steady monthly income. I dont need to be Bill Gates or Robert Murdock to be happy......

Reply #12

ONEDAY — Wed, 04 Aug 2010 03:31:12 GMT

i could get by on 1,000 a week. so about a millon would do..with investing.

Reply #11

markp1950 — Wed, 04 Aug 2010 03:23:53 GMT

Anything over $200K is gravy!

Flipping FCX can be VERY profitable!

MarkP

Reply #10

Clipper — Wed, 04 Aug 2010 00:49:31 GMT

Again, in order to live on winnings I think you would want to have all bills paid in full first and then have enough left over to invest to obtain a Monthly Income. It could be done with $1-2 million and live confortably. I have already asked a local banker how much one would need to get an investment return of $3-4,000 a month and he told me $6-700,000.

So if you owned your own property and had no monthly payments other then basics I think one could live confortably on the income from a $1-2... [ More ]

Reply #9

kapla — Wed, 04 Aug 2010 00:29:44 GMT

Just need enough to pay of the basics (food, home, car, ***HEALTH INSURANCE**) and a little extra for fun family and I am all set. So lets see that would be $100 million, but if I live to long the health insurance cost would wipe me out

Reply #8

Clipper — Tue, 03 Aug 2010 19:15:00 GMT

I would imagine in all depended on how well you wanted to live. You could get a $3-4000 a month income off $600-700,000. Probably would not afford you with luxuries depending on where you lived but at least you probably wouldn't have to work.

A lot of it depends on the where you live then the how much you get which depends on how much you win.

I'm not greedy. I just want enough to see that my family (children, etc) don't have to struggle after I'm gone and until that time live confortably... [ More ]

Reply #7

johngreek — Mon, 02 Aug 2010 12:47:15 GMT

bank interest here is 5.5% and the tax on bank interest is 15% :) not bad

Reply #6

savagegoose — Mon, 02 Aug 2010 10:34:22 GMT

here in oz , bank interest is aroind 6% 6.5% is possible, on `1 mill, thats $65k a year for prime ass sitting job. minus around %30 tax thats $45k.

not quite s living like a wealthy person but living like a millionaire means $45k a year. so id say to retire $2M in aussie dollars. anything on top is just gravy

Reply #5

rdgrnr — Mon, 02 Aug 2010 04:53:46 GMT

I wouldn't mind hittin PB or MM with a 5+0 for a million. I retired at 49 so anything now is just more syrple on the flapjacks.

But I can drink muddy water and sleep in a holler log if I ever have to.

Reply #4

badboy00z — Mon, 02 Aug 2010 04:42:09 GMT

$20 million after taxes is enough.

Reply #3

ttech10 — Mon, 02 Aug 2010 04:08:29 GMT

I would only really need $5,000,000 as I could live off interest on investments and could still have a few vacations, it wouldn't be lavish but it would be possible to live without working. Ideally I would win $11 million after taxes, $1 million to spend and $10 million to invest. It would give me about a $100,000 income.

If rates were what they were two years ago then that $5 million would be perfectly fine for everyone, giving you over $100,000 a year in income.

(And yea, I'm young... [ More ]

Reply #2

RJOh — Sun, 01 Aug 2010 23:56:42 GMT

Lots of people retire after having never won a lottery and I'm one of them.

Reply #1

joker17 — Sun, 01 Aug 2010 21:41:51 GMT

No less than 50 million net.

How much money do you have to win on the lottery to retire?

johngreek — Sun, 01 Aug 2010 21:36:48 GMT

i answer first

around 700k euros after taxes