How much to retire?Prev TopicNext Topic

• bks2

  

  IL
  United States
  Member #15,146
  May 10, 2005
  103 Posts
  Offline
  Jun 19, 2005, 5:01 pm

  ▲▼

  This is pretaxed money, I figure it would take 5 million for me if I lived normal.
• atlasshrugged

  

  Alaska
  United States
  Member #16,216
  May 27, 2005
  287 Posts
  Offline
  Jun 19, 2005, 5:06 pm

  ▲▼

  5 million here too. My husband actually did some number crunching and figured that that would be the amount needed for both of us not to have to work. I think he figured that it would give us 60k to live on. The rest of what came out of it woud go back into the pot to hedge for inflation. -Bonnie
  
• Rip Snorter

  

  New Mexico
  United States
  Member #12,305
  March 10, 2005
  2,984 Posts
  Offline
  Jun 19, 2005, 5:32 pm

  ▲▼

  I don't see any way I could retire on less than $50 mil..... need a new Trannie on an '87 Mitzu Montero, need new tires and a lot of nagging grimlens taken out of the old '87 Trooper, need a new clutch on the '90 model Toyota 4Runner.

  I haven't added all that up, but I know it's high.

  Then there's some plumbing work needing done.... might want to add a shed with a washer and drying in it.... start hiring people to change my oil and plugs....

  There's food, maybe a few shirts and some new Levis..... maybe need a thou a month over utilities, gas, taxes, and whatnot....  

  A pen good enough to keep predators off a nice flock of chickens.

  Ten pounds of catnip and a can or two of soft food every couple of weeks.

  Wheow.  I dunno if $50 mil would do it. 

  Jack

   
• Tnplayer805

  

  North Dakota
  United States
  Member #13,397
  April 5, 2005
  1,623 Posts
  Offline
  Jun 19, 2005, 5:34 pm

  ▲▼

  I wouldn't retire because I would be bored.  I would have to do something in that time. 

  How are you going to win if you don't play?
• Blackie

  

  50

  Norfolk , Va
  United States
  Member #4,541
  May 2, 2004
  31,253 Posts
  Offline
  Jun 19, 2005, 6:06 pm

  ▲▼

  I just  spent 23 months at home and it taught me I dont want to ever retire.

  I've had to deal with the phone ringing all day long with no one I know or anyone important trying to sell most anything under the sun, people with a novel in their right hand and a cell phone in their left all while doing 80 down the interstate and I,m sure cruise control has no part of managing the car in that manner. Idiots in the grocery store putting their groceries on the conveyor belt and then running to get those last 20 items they forgot, people blocking my driveway because the cant find a parking spot along the road. The house windows shaking to the beat of boom ba boom ba boom ba as a car with 500 watts of stereo gear goes cruising by and a whole slew of other daily things that go on that I can do without.

  I work on Merchant Ships and I'd rather go back to the peace and quiet the ocean offers. And yes we run into idiots there but not so many. No phone, no car , no grocery store. Lottery can be played by the year here in Va. 

   

   Good Luck,

  Blackie.                           
• Rip Snorter

  

  New Mexico
  United States
  Member #12,305
  March 10, 2005
  2,984 Posts
  Offline
  Jun 19, 2005, 9:19 pm

  ▲▼

  I work on Merchant Ships and I'd rather go back to the peace and quiet the ocean offers. And yes we run into idiots there but not so many. No phone, no car , no grocery store. Lottery can be played by the year here in Va. 

  Cool.

  Jack
• Blackie

  

  50

  Norfolk , Va
  United States
  Member #4,541
  May 2, 2004
  31,253 Posts
  Offline
  Jun 20, 2005, 12:37 am

  ▲▼

  Yeah Jack , It is pretty cool at times and I forgot to mention they pay you to see the world. Why retire ?

   

   Good Luck,

  Blackie.                           
• JimmySand9

  

  United States
  Member #1,826
  July 11, 2003
  2,645 Posts
  Offline
  Jun 20, 2005, 3:02 am

  ▲▼

  $4,000,000 cash value. After taxes, I should be able to get $60,000 a year from a high-yield savings account. That's enough to retire on.
  

  (insert signature here)
• SirMetro

  

  East of Atlanta
  United States
  Member #6,191
  August 11, 2004
  1,390 Posts
  Offline
  Jun 20, 2005, 10:30 am

  ▲▼

  Personally, I don't want to retire. I watched my dad slowly deteriate after he retired. When he went back to work, he seemed to regain his vitality. For me, I like what I do and I even like my boss. A few million would be nice, but I don't think I believe in a dollar amount that would make me want to retire. Just some of my thoughts is all.

  Sir Metro
• sagan

  

  Blaine WA
  United States
  Member #17,274
  June 15, 2005
  117 Posts
  Offline
  Jun 20, 2005, 10:43 am

  ▲▼

  ten mil would leave about 70k per annum after taxes and leaving one half the interest  reinvested, all this in non taxables.
• Litebets27

  

  Maryland
  United States
  Member #10,465
  January 14, 2005
  6,369 Posts
  Offline
  Jun 20, 2005, 10:50 am

  ▲▼

  I've always been one who plays the big jackpots and wish for a big win. But after the horrible last few weeks at work, I feel like, give me a half a million and I'm out of here.

  litebets
• Rip Snorter

  

  New Mexico
  United States
  Member #12,305
  March 10, 2005
  2,984 Posts
  Offline
  Jun 20, 2005, 10:56 am

  ▲▼
  Quote: Originally posted by Litebets27 on June 20, 2005

  I've always been one who plays the big jackpots and wish for a big win. But after the horrible last few weeks at work, I feel like, give me a half a million and I'm out of here.

  litebets

  Sending you some extra strong wishes for half-a-mil win.

  Good luck,

  Jack
• KyMystikal

  

  Florence, Alabama
  United States
  Member #8,658
  November 13, 2004
  2,037 Posts
  Online
  Jun 20, 2005, 11:06 am

  ▲▼

  Personally I would probably need 5 mil to retire but I would want to give my family money and my wife's family money and help the less fortunate so I'de probably need 20 mil. to retire. 

  I love doubles and remember, it's just a game!!!!!!
• rabbitfoot

  

  United States
  Member #620
  August 25, 2002
  205 Posts
  Offline
  Jun 20, 2005, 3:38 pm

  ▲▼

  My wife and I are retired now with a $-million retirement each.  Believe me, retirement is a lot better than working!

  I play to dream and dream of winning a major jackpot!