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How Much Money To Retire?

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How much money would you need to retire comfortably?

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johnnyx9
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How Much Money To Retire? [#permalink] New post   01 Feb 2007, 10:23
Obviously not everyone wants to retire and not work. Of course it would be nice to have some sort of pet-project or philanthropic work, or whatever, but what I'm getting at is, how much money would you need in the bank to think, "Alright, no more racing for the top job, no more early morning meetings, no more late nights at the office, I have enough money that I can get my kids through college and enough money to live my life the way I want."
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johnnyx9
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[#permalink] New post   01 Feb 2007, 11:30
Ten millon! You greedy bas*rds!! You couldn't stop at 8million??!!

Guess it's all relative though, I said 5 million which is pretty dam greedy too.
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OasisNYK
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[#permalink] New post   01 Feb 2007, 12:46
Depends on the age you want to retire - I wouldnt mind doing it in my 40's/early 50's - I said 8.
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rhyme
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[#permalink] New post   01 Feb 2007, 13:02
johnnyx9 wrote:
Ten millon! You greedy bas*rds!! You couldn't stop at 8million??!!

Guess it's all relative though, I said 5 million which is pretty dam greedy too.


B/c $10MM is enough for me to move to an island and live comfortably on the interest.
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Nsentra
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[#permalink] New post   01 Feb 2007, 13:37
10MM - because the more the better
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lepium
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[#permalink] New post   01 Feb 2007, 13:58
2 million @ 10%/year = 200k / year which is more than enough for living a confortable life in Argentina. I know risk free is more like 3 - 5% but I should be able to make 10% with some help / effort.

Cheers. L.
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3underscore
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[#permalink] New post   01 Feb 2007, 14:00
I went for 8.

I think in Sterling, that should be alright.
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rhyme
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[#permalink] New post   01 Feb 2007, 16:01
lepium wrote:
2 million @ 10%/year = 200k / year which is more than enough for living a confortable life in Argentina. I know risk free is more like 3 - 5% but I should be able to make 10% with some help / effort.

Cheers. L.


I figure at 3%. 10% is possible - but its not risk free at 10%.

10MM, 3% risk free, $300K gross, ~$180K net. Better years might give you $300K net.
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[#permalink] New post   01 Feb 2007, 19:31
Are we talking current dollars or 2035 dollars? If it's the former, then 6~8M would suffice (invested wisely). If it's the latter, then we need a new chart to select from.
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lepium
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[#permalink] New post   01 Feb 2007, 22:26
rhyme wrote:
lepium wrote:
2 million @ 10%/year = 200k / year which is more than enough for living a confortable life in Argentina. I know risk free is more like 3 - 5% but I should be able to make 10% with some help / effort.

Cheers. L.


I figure at 3%. 10% is possible - but its not risk free at 10%.

10MM, 3% risk free, $300K gross, ~$180K net. Better years might give you $300K net.


You need to become the CEO of your own corporation and pay for all your living expenses with pre-tax money. That way, you won't need as much! :lol:

Cheers. L.
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johnnyx9
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[#permalink] New post   02 Feb 2007, 06:58
Yeah I think 3% is probably more reasonable, 10% is pretty ambitious (although in our lifetimes it seems normal).
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lepium
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[#permalink] New post   02 Feb 2007, 08:28
I'd be part time retired. I.e.: playing with my portfolio to try and reach 10%, but not working formally.

Also: consider the pre-tax vs. post tax issue. 3% becomes more like 2% after tax.
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[#permalink]
02 Feb 2007, 08:28

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