How Much Money To Retire?

Question

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."

johnnyx9 · Answer

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.

OasisNYK · Answer

Depends on the age you want to retire - I wouldnt mind doing it in my 40's/early 50's - I said 8.

rhyme · Answer

B/c $10MM is enough for me to move to an island and live comfortably on the interest.

Nsentra · Answer

10MM - because the more the better

lepium · Answer

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.

3underscore · Answer

I went for 8.

I think in Sterling, that should be alright.

rhyme · Answer

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.

GMATT73 · Answer

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.

lepium · Answer

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.

johnnyx9 · Answer

Yeah I think 3% is probably more reasonable, 10% is pretty ambitious (although in our lifetimes it seems normal).

lepium · Answer

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.

How Much Money To Retire?

How much money would you need to retire comfortably?

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