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noise-gate

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White Shores- California
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Mar 28, 2017, 1:14 am

Or would it have to be a great deal higher in order for you to " walk away from it all?"

*Have a great rest of the week people and stay healthy while you at it!

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* People who say it cannot be done should not interrupt those who are doing it- George Bernard Shaw.
Teddi

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Mar 28, 2017, 4:14 am

$1 million before or after taxes? If the latter, I'd retire if I were 20 years older. But at this point the most I could do with $1 million is own a home free and clear, pay off all my bills and take some time off. If I limited my spending, the most I could take off from working is 10 years. Then I'd have to go back to work at an age where people would be less likely to hire me and be well behind in my skillset and level of on-the-job experience. Would make more sense to keep working to age 60 or 65 and then have an awesome retirement. On the plus side, at least I wouldn't be saddled to a job I hated. I'd have the choice to pick and choose opportunities based on interest rather than the proffered salary and benefits package.

I too would prefer Cersei Lannister to Tiny Hands. She always pays her debts, hasn't filed 6 bankruptcies and is educated enough to know Nambia isn't a country.
noise-gate

* In hot pursuit of $ *

White Shores- California
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Mar 28, 2017, 10:39 am

Quote: Originally posted by Teddi on Mar 28, 2017
$1 million before or after taxes? If the latter, I'd retire if I were 20 years older. But at this point the most I could do with $1 million is own a home free and clear, pay off all my bills and take some time off. If I limited my spending, the most I could take off from working is 10 years. Then I'd have to go back to work at an age where people would be less likely to hire me and be well behind in my skillset and level of on-the-job experience. Would make more sense to keep working to age 60 or 65 and then have an awesome retirement. On the plus side, at least I wouldn't be saddled to a job I hated. I'd have the choice to pick and choose opportunities based on interest rather than the proffered salary and benefits package.

l based this question on the fact Teddi that we are all in it to win " something." Since the 2nd prize is a million would that be enough? In the recent past some have said that $250K will be more than generous, others would beg to differ . Personally, a million wouldn't cut it right now so my higher# would be in the $15-$20mil range. Have a good day- me.

* Voice of Reason *

* People who say it cannot be done should not interrupt those who are doing it- George Bernard Shaw.
MaximumMillions

Germany
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Mar 28, 2017, 1:14 pm

Funny you would ask this, I was thinking about this just a few days ago.

We have a 2Lucky for Life" type lottery here since the 70ies, you win €2M and they used to pay it as an annuity that would pay ~7500€ monthly, and now you can also get it in a lump sum.

I think that is a great amount, that's 2 or more wages for a lifetime without having to work. Your average employee is not going to make more in their career unless they really apply themselves and dedicate their life to their profession.

$ and € are almost on parity right now, but $1M is cutting it a bit closer than €1M at their usual levels.

We all read all the tid bits of financial planners saying you should not retire complete,y unless at about $3M. At $5M it's more or less safe they all seem to agree.

But on $1M you could lead a nice life, less pressure to pay bills, albeit no fancy car, no fancy condo, no first class traveling around the world (or very little). On $1M you would have to calculate every move unless you are 70 years old when you win. And that's all assuming $1M after taxes and living in a cheaper locatin, no Bay area, no East Coast.
msmillionaire

Milwaukee
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Mar 28, 2017, 1:23 pm

no i would buy some houses!!!
noise-gate

* In hot pursuit of $ *

White Shores- California
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Mar 28, 2017, 2:27 pm

Quote: Originally posted by MaximumMillions on Mar 28, 2017
Funny you would ask this, I was thinking about this just a few days ago.

We have a 2Lucky for Life" type lottery here since the 70ies, you win €2M and they used to pay it as an annuity that would pay ~7500€ monthly, and now you can also get it in a lump sum.

I think that is a great amount, that's 2 or more wages for a lifetime without having to work. Your average employee is not going to make more in their career unless they really apply themselves and dedicate their life to their profession.

$ and € are almost on parity right now, but $1M is cutting it a bit closer than €1M at their usual levels.

We all read all the tid bits of financial planners saying you should not retire complete,y unless at about $3M. At $5M it's more or less safe they all seem to agree.

But on $1M you could lead a nice life, less pressure to pay bills, albeit no fancy car, no fancy condo, no first class traveling around the world (or very little). On $1M you would have to calculate every move unless you are 70 years old when you win. And that's all assuming $1M after taxes and living in a cheaper locatin, no Bay area, no East Coast.

No East Coast No West Coast huh Max. Just smack dab in the middle of the country, in the middle of nowhere. Sounds exciting if you were raised on a farm.No disrespect to farmers they do a great job out there tending their crops & bringing it to our tables.

* Voice of Reason *

* People who say it cannot be done should not interrupt those who are doing it- George Bernard Shaw.
noise-gate

* In hot pursuit of $ *

White Shores- California
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Mar 28, 2017, 2:29 pm

Quote: Originally posted by msmillionaire on Mar 28, 2017
no i would buy some houses!!!

Fixer uppers?

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* People who say it cannot be done should not interrupt those who are doing it- George Bernard Shaw.
Raven62

25

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Mar 28, 2017, 3:59 pm

Quote: Originally posted by noise-gate on Mar 28, 2017
Or would it have to be a great deal higher in order for you to " walk away from it all?"

*Have a great rest of the week people and stay healthy while you at it!

I could retire my car and still have plenty left over!

A mind once stretched by a new idea never returns to its original dimensions!

Catch-22: A dilemma or difficult circumstance from which there is no escape because of mutually conflicting or dependent conditions.

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Teddi

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Mar 28, 2017, 4:48 pm

Quote: Originally posted by noise-gate on Mar 28, 2017
l based this question on the fact Teddi that we are all in it to win " something." Since the 2nd prize is a million would that be enough? In the recent past some have said that $250K will be more than generous, others would beg to differ . Personally, a million wouldn't cut it right now so my higher# would be in the $15-$20mil range. Have a good day- me.

It's not that it wouldn't be life altering, but I couldn't retire on it. Man, does it suck to realize that.

I too would prefer Cersei Lannister to Tiny Hands. She always pays her debts, hasn't filed 6 bankruptcies and is educated enough to know Nambia isn't a country.
noise-gate

* In hot pursuit of $ *

White Shores- California
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Mar 28, 2017, 5:53 pm

Quote: Originally posted by Teddi on Mar 28, 2017
It's not that it wouldn't be life altering, but I couldn't retire on it. Man, does it suck to realize that.

l burst out laughing when l read your last paragraph Teddi. Reminded me of a relative of mine years ago , just got bombarded by credit card applications in the mail. He decides without consulting wiser minds on the pitfalls of getting into debt gets one.Long story short :He blew through his $500.00 limit in less than 2 months.-A little while later we go out to eat & his Dad says " Well Son, you gonna pay for the meal?".The look on his face was precious. He Dad says " must suck to realize that they gonna want their money back & then some."

* Voice of Reason *

* People who say it cannot be done should not interrupt those who are doing it- George Bernard Shaw.
dognabit

wisconsin
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Mar 28, 2017, 11:48 pm

Sadly, I would not be able to retire on an even million. At 42, I'd put 500k in an IRA, another 100K in an emergency S&P 500 account. The other $400 K would be used on a house, bills, friends and myself.
noise-gate

* In hot pursuit of $ *

White Shores- California
United States
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December 12, 2012
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Mar 29, 2017, 1:48 am

Quote: Originally posted by dognabit on Mar 28, 2017
Sadly, I would not be able to retire on an even million. At 42, I'd put 500k in an IRA, another 100K in an emergency S&P 500 account. The other $400 K would be used on a house, bills, friends and myself.

Sounds like a good plan dognabit.Squirrel away a good portion of the money & leave a little something for yourself.That will work.

* Voice of Reason *

* People who say it cannot be done should not interrupt those who are doing it- George Bernard Shaw.
gregs241

Grantsburg, WI
United States
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July 21, 2016
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Mar 29, 2017, 2:13 am

YES!!! a guestimate after tax of $650K and my age-59, my employer would be searching for a replacement!! a two week notice as of 14 days ago
monquel331

ark ga la.tx.usa
United States
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August 19, 2016
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Mar 29, 2017, 2:09 pm

Yes i do and help my moma and my girlfriend and kids and family and help other

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wander73

Philadelphia, PA
United States
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March 24, 2014
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Mar 29, 2017, 2:23 pm

Quote: Originally posted by gregs241 on Mar 29, 2017
YES!!! a guestimate after tax of $650K and my age-59, my employer would be searching for a replacement!! a two week notice as of 14 days ago

Up here In PA is atwill. Employers don't care for the well being of an employee.

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