Welcome Guest
Log In | Register )
You last visited December 6, 2016, 4:42 pm
All times shown are
Eastern Time (GMT-5:00)

can you retire after winning pd 5+0 w/ pp or w/o

Topic closed. 26 replies. Last post 4 years ago by Ronnie316.

Page 1 of 2
52
PrintE-mailLink
kyokushin187's avatar - evildead2
cornwall,ct
United States
Member #102636
December 23, 2010
245 Posts
Offline
Posted: July 27, 2012, 7:17 am - IP Logged

If a 35 year old hit pb for 2 mil 1,399.500.00 after taxes.would that be enough to stop working or get a part time job and still live comfortable.and what about 5+0 w/o pp?thats about 695,000.00 after taxes.

Kyokushin karate a.k.a.

" The strongest Karate"


    United States
    Member #111442
    May 25, 2011
    6323 Posts
    Offline
    Posted: July 27, 2012, 7:29 am - IP Logged

    If a 35 year old hit pb for 2 mil 1,399.500.00 after taxes.would that be enough to stop working or get a part time job and still live comfortable.and what about 5+0 w/o pp?thats about 695,000.00 after taxes.

    $1.4 Million should be enough to retire on, provided your frugal enough to not let that instant money go to your head. I could do it easily. Yes Nod

    $695,000 I would still be working part time, however life would be very comfortable.

     

    These are both large amounts of money that many people are already retiring on, after contributing for 20-30 years into their IRA'S and 401K's.

    Sure $100 million would be nice dream jackpot, but please, if you can't manage on these amounts, you need might need some financial counseling.

      Avatar
      Milwaukee, WI
      United States
      Member #3131
      December 27, 2003
      665 Posts
      Offline
      Posted: July 27, 2012, 8:04 am - IP Logged

      I retired on MUCH less than that.


        United States
        Member #128435
        May 24, 2012
        343 Posts
        Offline
        Posted: July 27, 2012, 8:06 am - IP Logged

        I Would Retire It Depend 

          IPlayWeekly's avatar - avatarmoney
          Columbus, Ohio
          United States
          Member #128906
          June 5, 2012
          591 Posts
          Offline
          Posted: July 27, 2012, 8:20 am - IP Logged

          It depends on where you live and lifestyle

            HoLeeKau's avatar - YheaShea
            Idaho
            United States
            Member #94283
            July 17, 2010
            2284 Posts
            Offline
            Posted: July 27, 2012, 9:25 am - IP Logged

            Where I live, you could probably generate enough income off that to pay the bills on a lower middle class lifestyle.  I doubt there would be much left for the fun stuff tho until interest/return rates go up.


              United States
              Member #111442
              May 25, 2011
              6323 Posts
              Offline
              Posted: July 27, 2012, 9:52 am - IP Logged

              I retired on MUCH less than that.

              Yeah, everyone's different. Had a friend who retired on $500.

                Jill34786's avatar - Lottery-006.jpg
                Windermere, FL/Franklin, TN
                United States
                Member #50210
                March 1, 2007
                843 Posts
                Offline
                Posted: July 27, 2012, 11:59 am - IP Logged

                $1.4 Million should be enough to retire on, provided your frugal enough to not let that instant money go to your head. I could do it easily. Yes Nod

                $695,000 I would still be working part time, however life would be very comfortable.

                 

                These are both large amounts of money that many people are already retiring on, after contributing for 20-30 years into their IRA'S and 401K's.

                Sure $100 million would be nice dream jackpot, but please, if you can't manage on these amounts, you need might need some financial counseling.

                I Agree!   With your sentiment on the $1.4 million scenario. The key to living comfortably without depleting your nest egg is allowing your money to work for you. Netting 1% on a monthly basis would provide someone $14,000 to live on. Achieving similar or slightly better results isn't too difficult with a seasoned money manager.

                 

                The $695k nest egg could also allow you to retire as long as the funds can produce 1% (7k) per month. Being sensible and grounded goes a long way to make your money last.

                  rdgrnr's avatar - walt
                  Way back up in them dadgum hills, son!
                  United States
                  Member #73904
                  April 28, 2009
                  14903 Posts
                  Offline
                  Posted: July 27, 2012, 12:07 pm - IP Logged

                  If a 35 year old hit pb for 2 mil 1,399.500.00 after taxes.would that be enough to stop working or get a part time job and still live comfortable.and what about 5+0 w/o pp?thats about 695,000.00 after taxes.


                  I live back in the woods, you see
                  My woman and the kids, and the dogs and me
                  I got a shotgun, a rifle and a 4-wheel drive
                  And a country boy can survive
                   
                  I can plow a field all day long
                  I can catch catfish from dusk till dawn
                  We make our own whiskey and our own smoke too
                  Ain't too many things these ol' boys can't do
                  We grow good ole tomatoes and homemade wine
                  And a country boy can survive
                  Country folks can survive
                   
                  Because you can't starve us out
                  And you cant make us run
                  Cause we're them ol' boys raised on shotguns
                  And we say grace and we say Ma'am
                  And if you ain't into that we don't give a dam
                   
                  We come from the West Virginia coalmines
                  And the Rocky Mountains and the and the western skies
                  And we can skin a buck; we can run a trot line
                  And a country boy can survive
                  Country folks can survive

                  We're from North Carolina and south Alabam
                  And little towns all around this land
                  And we can skin a buck; we can run a trot line
                  And a country boy can survive
                  Country folks can survive
                   
                  ~Hank Jr
                    Jill34786's avatar - Lottery-006.jpg
                    Windermere, FL/Franklin, TN
                    United States
                    Member #50210
                    March 1, 2007
                    843 Posts
                    Offline
                    Posted: July 27, 2012, 12:08 pm - IP Logged

                    Yeah, everyone's different. Had a friend who retired on $500.

                    Retired on $500 ??? Does he live in a tent out in the woods ?


                      United States
                      Member #116268
                      September 7, 2011
                      20244 Posts
                      Offline
                      Posted: July 27, 2012, 12:26 pm - IP Logged

                      Retired on $500 ??? Does he live in a tent out in the woods ?

                      $500. is a nice little pile of cash, dont knock it. Lots of people retire with less.


                        United States
                        Member #111442
                        May 25, 2011
                        6323 Posts
                        Offline
                        Posted: July 27, 2012, 5:53 pm - IP Logged

                        $500. is a nice little pile of cash, dont knock it. Lots of people retire with less.

                        LOL  How very true! Heard of a guy who retired comfortably on $20 (after taxes). Lucky b*****d!   Lep

                          SergeM's avatar - slow icon.png
                          Economy class
                          Belgium
                          Member #123700
                          February 27, 2012
                          4035 Posts
                          Offline
                          Posted: July 27, 2012, 7:47 pm - IP Logged

                          There is inflation. A house can burn, a car can crash, teeth can break.
                          Who can you trust?


                            United States
                            Member #111442
                            May 25, 2011
                            6323 Posts
                            Offline
                            Posted: July 27, 2012, 7:53 pm - IP Logged

                            There is inflation. A house can burn, a car can crash, teeth can break.
                            Who can you trust?

                              SergeM's avatar - slow icon.png
                              Economy class
                              Belgium
                              Member #123700
                              February 27, 2012
                              4035 Posts
                              Offline
                              Posted: July 27, 2012, 8:02 pm - IP Logged