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how much money would it take for you to be set for life?

Topic closed. 25 replies. Last post 10 years ago by s5thomps.

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guesser's avatar - Lottery-017.jpg

United States
Member #41383
June 16, 2006
1969 Posts
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Posted: January 31, 2007, 12:34 am - IP Logged

After taxes.

In this area of the country.

Myself and my wife.

$85,000/year times number of years of life expectancy, I will say 30 more years (which will be a REACH for me) = $3,060,000 

-or-

$75,000/year times number of years of life expectency, 30 years, = $2,700,000

To be honest, the way we live, we can live quite fine on $60,000/year (30 x $60,000 - $2,160,000)

Health care and age doesn't mix well, though.

I'll stick with my 3 mill estimate.

I don't need a Ferrari, or a winter home in Tucson/Scottsdale, or to be taking long european vacations every year....  

    Avatar
    California
    United States
    Member #46824
    October 1, 2006
    270 Posts
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    Posted: January 31, 2007, 10:08 am - IP Logged

    After taxes.

    In this area of the country.

    Myself and my wife.

    $85,000/year times number of years of life expectancy, I will say 30 more years (which will be a REACH for me) = $3,060,000 

    -or-

    $75,000/year times number of years of life expectency, 30 years, = $2,700,000

    To be honest, the way we live, we can live quite fine on $60,000/year (30 x $60,000 - $2,160,000)

    Health care and age doesn't mix well, though.

    I'll stick with my 3 mill estimate.

    I don't need a Ferrari, or a winter home in Tucson/Scottsdale, or to be taking long european vacations every year....  

    Guesser...what area of the country are you referring to?

      hypersoniq's avatar - 8ball
      Pennsylvania
      United States
      Member #1340
      April 6, 2003
      2450 Posts
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      Posted: February 3, 2007, 11:42 am - IP Logged

      $4,500,000  (the base lump sum value after-taxes of the powerball)

      Since that's the only game I play and that's the least you can win (if a solo winner)

      Actually I'd probably take the annuity on a base JP win... $325,000 a year for 30 years would maintain our lifestyle without the need to work for someone else. Besides, on the base jackpot, taking the cash means you give up $6,700,000

      On a big jackpot where there is enough to put it away and live off the interest, then I'd take the cash.

      I play one ticket with the powerplay. I would be happy just matching the 5 white ones for 400k-1M, that would eliminate all our debt and still leave 300k to 900k ;-)

      Playing more than one ticket per game is betting against yourself.

        chippie's avatar - Lottery-064.jpg

        Bahamas
        Member #31284
        January 27, 2006
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        Posted: February 3, 2007, 12:18 pm - IP Logged

        how much money would it take for you to be set for life?

        me i'd be happy with 10 million

        I could make due with 1 million

          TheGameGrl's avatar - character catafly.jpg
          A long and winding road
          United States
          Member #17084
          June 10, 2005
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          Posted: February 3, 2007, 8:33 pm - IP Logged

          A minimum of after tax: 10 million.

          And the kicker is...I wouldnt Quit my career choice! Id invest as a partner and be a contributing member of advancing some of the projects and growth.

          The monetary is merely the fuel that allows for faster growth and expediency in research resolutions. 

          PS: I loved the ostrich joke! 

          ~~Is it true, Is it kind,Is it necessary. ~~~

           Thanks be to the giving numbers: 1621,912,119 02014

            grengrad's avatar - nw rogue.jpg
            Raleigh
            United States
            Member #49057
            January 17, 2007
            172 Posts
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            Posted: February 4, 2007, 12:37 am - IP Logged

            5.2M after taxes, would be enough to never have to work again. 1.2M given away as gifts to family, leaving 4M for me. Good investment planning, and no money wasted on stupid purchases.

            The more the better though of course.

              guesser's avatar - Lottery-017.jpg

              United States
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              June 16, 2006
              1969 Posts
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              Posted: February 4, 2007, 1:08 am - IP Logged

              Guesser...what area of the country are you referring to?

              Kansas-Iowa-Nebraska-Missouri

                justxploring's avatar - villiarna
                Wandering Aimlessly
                United States
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                November 5, 2005
                4461 Posts
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                Posted: February 4, 2007, 2:16 am - IP Logged

                For me it's almost impossible to say in one sentence. One never knows what will happen in the future, including a change in attitude/lifestyle.  I don't spend much now and didn't when I made a good living. I just had a heck of lot more choices.  $100,000 a year would be more than enough, especially if we are talking about after tax dollars.  If I got it all at once, I'd probably ask for $2 million, buy a home and put the rest away. I'd help out friends and be charitable of course.

                This question is quite a bit different from "what would you really want if you could have anything?" Right now I'd settle for a peaceful world without suicide bombers, a healthy body, a good night's sleep, no stress, peace of mind, a few close friends, a steady job, health insurance, and about $50,000 a year.  If I had all of that, living in a $2 million or $200,000 home wouldn't make that much of a difference to me.

                  bobby jones's avatar - anime15
                  illinois
                  United States
                  Member #4322
                  April 13, 2004
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                  Posted: February 4, 2007, 2:44 am - IP Logged

                  5 million after taxes would be more than enough for me to retire on and never work again.

                  i would get a nice home for about 300-400k and a new car for no more than 35,000.and put

                  the rest in the bank and watch the interest grow.

                    Badger's avatar - adu50016 NorthAmericanBadger.jpg
                    Wisconsin
                    United States
                    Member #1303
                    March 27, 2003
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                    Posted: February 4, 2007, 1:07 pm - IP Logged

                    how much money would it take for you to be set for life?

                    me i'd be happy with 10 million

                    One million pre-taxes. I'd still have some little part time gig for pocket cash. I think I'd have to be doing SOMETHING. I'm afraid I'm not someone who can just do nothing all day. SOmetimes I wish I was... I just don't want to feel like I HAVE to have a job to bring in money.

                    ============

                    How can you tell if a politician is lying?

                    Answer: His lips are moving.

                      s5thomps's avatar - Lottery-033.jpg
                      Hard Luck, Ak
                      United States
                      Member #23472
                      October 13, 2005
                      275 Posts
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                      Posted: February 4, 2007, 1:47 pm - IP Logged

                      That's a relative question, I would be happy with about 10 million after taxes. Any more than that and it attracts to much media attention. Whenever anyone wins a mega jackpot that is when all of the vultures come out and if you are not careful it can be more of a curse than a blessing.  New Orleans Saints in 08. Go Peyton Manning and the Colts!!!

                                                                            Disney