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After the Big Win

Topic closed. 30 replies. Last post 8 years ago by s5thomps.

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

250,000.00 [ 6 ]  [6.38%]
500,000.00 [ 4 ]  [4.26%]
1 million [ 17 ]  [18.09%]
5 million [ 33 ]  [35.11%]
10 million [ 7 ]  [7.45%]
15 million or more [ 22 ]  [23.40%]
other/explain [ 5 ]  [5.32%]
Total Valid Votes [ 94 ]  
Discarded Votes [ 1 ]  
TheGameGrl's avatar - character catafly.jpg
A long and winding road
United States
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June 10, 2005
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Posted: December 28, 2008, 8:17 am - IP Logged

dphillips! I like your rational thoughts :)

Personally and begrudgingly if I had to quit my job based on money flowing in it would take more then 15mill. Not for greedy reasons. For the fact that I sincerely enjoy my profession and do not consider WORK(career) a burden any more then I considered the years I vested in the role as a mother . Money is not the prime  motive (although its a nice perk!) in going to the office.  With the economy in a shambles I would scrap the Investment idea (unless its investing in causes for the community ). 

In asking the question I often think of substituting a role in ones life, Because that is what the question is really about. How much would it take for you to stop being a teacher, doctor, preacher, EMS, artist, writer, you name it. THose careers mean MORE to some folks then the income . I will say this in defense of such winning. You can be less stressed with the hospital bills, taxes and having a roof over your head if you do it right.

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

pa:888,4445,6132,4444,8008

    hearsetrax's avatar - 0118

    United States
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    Posted: December 28, 2008, 2:43 pm - IP Logged

    dphillips! I like your rational thoughts :)

    Personally and begrudgingly if I had to quit my job based on money flowing in it would take more then 15mill. Not for greedy reasons. For the fact that I sincerely enjoy my profession and do not consider WORK(career) a burden any more then I considered the years I vested in the role as a mother . Money is not the prime  motive (although its a nice perk!) in going to the office.  With the economy in a shambles I would scrap the Investment idea (unless its investing in causes for the community ). 

    In asking the question I often think of substituting a role in ones life, Because that is what the question is really about. How much would it take for you to stop being a teacher, doctor, preacher, EMS, artist, writer, you name it. THose careers mean MORE to some folks then the income . I will say this in defense of such winning. You can be less stressed with the hospital bills, taxes and having a roof over your head if you do it right.

    I Agree!

      justxploring's avatar - villiarna
      Wandering Aimlessly
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      Posted: December 28, 2008, 3:32 pm - IP Logged

      I chose $1 million after taxes.  Someone with 3 kids, college loans, etc. might have a tough time, but I don't spend a lot of money.  In fact, I'm sure something is wrong with me because I don't shop a lot and can't understand the whole "I've got to have 50 pairs of shoes" thing. 

      Big Grin

      I just want a nice place to live, a reliable car, enough to enjoy a night out on the town once in a while.  More important - I want an affordable health care plan and to grow a 3rd set of teeth.

      Gamegirl - I envy you. Really.  I also agree that you can't put a price on happiness.  However, I personally know few people who can say they love their jobs.

        Todd's avatar - Cylon 2.gif
        Chief Bottle Washer
        New Jersey
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        Posted: December 29, 2008, 3:57 pm - IP Logged

        I guess the question assumes one would ever quit their job.  I'm not sure I could get to the point of doing nothing productive.

         

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          Avatar
          NY
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          October 16, 2005
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          Posted: December 29, 2008, 4:14 pm - IP Logged

          I don't know about anyone else, but I rely on work for income (now and in retrement), notto be productuve. There are more than enough volunteer opportunitiesout there to give everybody 40 hours a week of productivity, and more than enough people who need the income to take over the jobs of anyone who doesn't need to money. OTOH, while I don't know about most individuals, there are plenty of people who need a job in order to feel worthy.

          It sounds to me like gamegrl misunderstood the question. What would it be about "money flowing in" that would require you to quit your job? I suppose you could feel that managing the money required enough effort that it would interfere with a regular job, but you can always farm that out to somebody else, or take the easy route and put it all in government securitites. I'd say the question was clearly about how much you'd need to give up the income from your job. That has nothing to do with whether or not you like your job, only with what you think your future financial requirements are.

            Avatar
            Los Angeles CA
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            Posted: December 29, 2008, 4:14 pm - IP Logged

            5 Mil, quit my current job get my finances in order could take 3-6 months to accomplish, then start my own business.

            I don't think I could sit around the house all day and be rich, I like having a purpose for each day.

            EXMECHANIC

            "My dollar buys hope, what does yours do?" 

              AuntiePat's avatar - animaniacs10
              Just outside of Cleveland, OH
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              Posted: December 30, 2008, 7:02 am - IP Logged

              I chose "Other" as I am already in semi retirement--and any amount of money over 1 million from which I could,invest and derive incme would be a life changing amount for me.  But everyone knows what their needs are--as I have aged, my 'wants and needs' have narrowed somewhat and I am trying to GET RID of some of my possessions, not accumulate more.

              But that's just me.

              But I would love enough money to go solar and wind powered and help my daughter and parents to do the same.

                OldSchoolPa's avatar - Lottery-057.jpg
                Gurnee, Illinois
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                February 12, 2007
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                Posted: January 2, 2009, 12:05 pm - IP Logged

                Since I  do not have a job in the technical sense of the word (yet I am working for a living), I would have to say that this would have no bearing on me.  But if you're talking about how much money I would need to win in order to stop working for a living, I would still think that just because I enjoy what I do (helping others achieve financial independence), I would not quit working in that capacity even if I happened to win $10M or even $100M (cash value in both cases).  But my lifestyle would definitely change in that I would fly first class, drive top notch automobiles, dress in the finest menswear available, play golf all over the world and maybe even take in a few PGA events (that's a big maybe as I prefer to watch sports programs on TV), and just enjoy visiting places, friends and family.  That to me is the biggest benefit of winning a lottery jackpot...seeing more people and places.  So I definitely would not subscribe to the become a hermit so that people won't bother you because you are rich school of thought.  I have no problem telling people NO.  Saying NO does not make one a rude person.  Now if someone came to me and said that they are trying to raise $100,000 to start a business (and they show me their business plans!!!), I would ask the person how many potential investors have they contacted or have investment pledges from.  In that case, if the business plan appears sound, I would perhaps be willing to become a fractional investor.  But I would not be the sole investor or anything close to it as if a person has a viable business plan, then many others would be interested in investing in it as well.  If the interest is not there, then that should be a red flag that perhaps this is not a viable business plan.  And my investment would not come through me personally...instead it would come through my investment LLC.

                Get MONEY!!! Winning a JACKPOT lottery is all the HOPE and CHANGE I desire!!!  NOW give me MONEY!US Flag

                The guy who won the presidency in 2008 really won the lottery...he is now millions richer, travels in first class style, and even has a staff that would be the envy of the richest Powerball winner (she has a staff of 2). Every night he goes to sleep, he probably plays the close of Dave Chappelle's Show: I'm rich beyatch!

                  DelmarvaChick's avatar - wallace
                  Ohio
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                  Posted: January 9, 2009, 10:41 am - IP Logged

                  5 Mil, quit my current job get my finances in order could take 3-6 months to accomplish, then start my own business.

                  I don't think I could sit around the house all day and be rich, I like having a purpose for each day.

                  I think my purpose for the day would be to have fun...snowboarding, bungee jumping, kite surfing, visiting family, teaching my nephews how to do the same thing. Aftrwards I think I would volunteer more at shelters (animal and human...or maybe start one of my own). For me to quit I think 5 million or so would do it (after taxes)...to go insane and not give a hoot...I think I'd have to be the only winner for el gordo...lol

                    Pogo's avatar - wfl
                    NC
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                    Posted: January 17, 2009, 9:55 pm - IP Logged

                    $5 million to live small, comfortable, and green... Is there anything more??? Pogo

                      awwcrap's avatar - moon
                      ky
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                      Posted: January 18, 2009, 7:00 am - IP Logged

                      It will take 15 millon or more to make me quit my job of 20yrsConfused

                        s5thomps's avatar - Lottery-033.jpg
                        Hard Luck, Ak
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                        October 13, 2005
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                        Posted: January 20, 2009, 4:52 am - IP Logged

                        It looks like 5 million after taxes is the overall winner. I voted for 10 million, but I think 5 mill is more than enough. On Tuesday when change in our leadership comes to America, I am hoping that CHANGE to my financial situation comes on Wed.    Smile  Although you can't blame the entire state of the economy on the Bush administration, you have to admit it has been a rough 8 years for a lot of Americans. I am hoping that every LP member and every citizen have a happy and prosperous 2009 and beyond.  I know that it's not the governments job to solve all our problems, but I think it is all of our responsibility as citizens to come together to make not only make the country, but the world a better place.                                                               

                                                                                  "YOU BETCHA!" Wink

                         

                                         "YOU MAKE A LIVING BY WHAT WE GET, YOU MAKE A LIFE BY WHAT YOU GIVE!"

                                                                                                                    Sir Winston Churchill

                          susie545's avatar - Lottery-034.jpg
                          Lux
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                          December 5, 2008
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                          Posted: January 20, 2009, 1:41 pm - IP Logged

                          $1million dollars. I am very good with money.I Agree!Smile

                          who is oprahSun Smiley

                            Elizabeth03's avatar - cat anm.gif
                            Nova Scotia
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                            Posted: January 27, 2009, 10:31 pm - IP Logged

                            Well I haven't found any job that I've liked, so I would gladly quit any job for $1 million dollars or less...

                             

                            And travel which I really want to do, and get away from the stress I have now... And the people around here, and to move somewhere else that I am more comfortable....See Ya! Hyper


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                              Posted: January 27, 2009, 10:47 pm - IP Logged

                              $1million dollars. I am very good with money.I Agree!Smile

                              Where is wontonsoup located?Green laugh