Welcome Guest
Log In | Register )
You last visited December 10, 2016, 7:35 am
All times shown are
Eastern Time (GMT-5:00)

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

Topic closed. 21 replies. Last post 6 years ago by markp1950.

Page 2 of 2
51
PrintE-mailLink
ttech10's avatar - blobdude
Texas
United States
Member #92330
June 5, 2010
887 Posts
Offline
Posted: August 5, 2010, 12:44 pm - IP Logged

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......

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 than good. Use the $1 million to get a new car, house and other splurge items then use the rest and yearly income for vacations and other nice gifts I may want (of course covering taxes, bills, other necessities first). I'm easily entertained so don't see me needing to get a luxury yacht, five cars or my own personal alligator in the backyard so I think I'd be able to save that yearly allowance up quite nicely.

    Avatar
    Monkey Butt, USA
    United States
    Member #54569
    August 23, 2007
    1124 Posts
    Offline
    Posted: August 5, 2010, 2:11 pm - IP Logged

    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.

      Avatar
      Milwaukee, WI
      United States
      Member #3131
      December 27, 2003
      665 Posts
      Offline
      Posted: August 10, 2010, 11:56 pm - IP Logged

      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.

      Bargain cuts of meat, 14 year old Toyota, dollar store, I'm in heaven, 2 liter bottle of Coke. A couple of buck doubles at BK.

      I don't NEED anymore.

      But my dream house on my dream ranch sounds lovely too!

      MarkP

        Avatar
        CA
        United States
        Member #84266
        December 26, 2009
        410 Posts
        Offline
        Posted: August 11, 2010, 2:02 am - IP Logged

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

          Avatar
          Milwaukee, WI
          United States
          Member #3131
          December 27, 2003
          665 Posts
          Offline
          Posted: August 11, 2010, 2:20 am - IP Logged

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

          MarkP

            Avatar
            Texas city,tx
            United States
            Member #50125
            February 26, 2007
            201 Posts
            Offline
            Posted: August 23, 2010, 11:14 pm - IP Logged

            between $450,000-$750,000

              Avatar
              Milwaukee, WI
              United States
              Member #3131
              December 27, 2003
              665 Posts
              Offline
              Posted: August 24, 2010, 6:30 am - IP Logged

              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