1mil but I’d probably still work. I’d wanna be a fulltime BERRT nurse (Behavioral Emergency Rapid Response Team) and just wander around the hospital at night calming patients down. I’ve done a little BERRT work but most hospitals won’t pay a living wage for someone to do that full time. It’s usually just lumped on the psych unit charge so they can only respond when they’re not busy which defeats the point of an emergency response protocol. Doing that full time and just wandering around the hospital giving fake cigarettes to people with Alzheimer’s and talking people withdrawing into sticking it out through their detox protocol would literally be my dream come true LOL.
How shit capitalism is. My friend, if I was one of these $200-300-400-500k passive incomes people have been posting, I would gladly live far more modestly so you could do what you love.🧡
❤️
2 million euros would be enough for me to live comfortably for 50 years.
I’m shocked at the huge sums people are posting. I agree 2 million is loads. 600k for a house then the rest is 2k per month of disposable income for 60 years.
600k for a house could also mean 15k in yearly taxes or more depending on where you live.
right, here in Australia, where I am annual property taxes are AUD$1800.
20 or 25 times my annual expenses. There is an entire movement on the Internet dedicated to save up and then never work again. FIRE is the Google term if you’re curious.
3 million USD. I’d still run my farm but I wouldn’t work my job job anymore. Just means I’d upscale the farm a small amount and give away a larger percentage of my products. 3 is genuinely low but I have very little debt as is and a reasonable lifestyle.
1 million € would make for pretty comfortable living. Though I suppose I’d need to put it somewhat higher, because otherwise I’d be tempted to do part time work once in a while, so maybe 1.5 million.
My work is basically what I’d do with my free time anyway. If I had a mill in the bank, I’d just have better cameras and more woodworking tools than now, and worry slightly less about selling the products thereof, but I’m pretty frugal as it is so I don’t work much and have a pretty easy life already
2 million are enough for me.
But if you give me 5 million, I start working again by taking 2 out of the 5 and build a small business from it, just for fun.
CHF 10 million.
Use 1% a year, invest the capital and returns above 1% in a medium risk portfolio, so that the capital (and my annual 1%) grows with inflation.
well, you’d die very wealthy so there is that
Rather that than running out of money when I’m old. This approach works regardless of how long I live.
1 mil at 6 percent is 60k very doable.
General rule of thumb based on historical studies is that you can safely withdraw more like 3-4% to have a safe portfolio. Though, you can cheat this if you’re able to find more work or drastically reduce spending during recessions.
i retired at 35 and am now 60, i have nothing like what people say they need here. i have been investing i was 19, i have a gf, a modest cottage in a small town in Australia, no debts and we travel thru SE Asia 8 months a year.
There’s people living on way less with really interesting lives out there who don’t work.
The late game is the problem for me, how do you’ll manage it?
manage what ? sorry I’m not sure i understand?
I think they mean once your age related issues catch up.
move to any country other than the US
Can still be hard.
Then that’s what the millions will solve.
The question is missing one key variable: how old are you?
Someone my age without that many years left and with the kids out of the house doesn’t need nearly as much as a 30-something with a family.
1 million. Getting 3% back on investments will give me $30,000 a year. That far more than what I currently make. Also, less laundry, less eating out, and not burning so much fuel commuting to work and home.
Don’t forget inflation. That 30K isn’t going to buy you much in twenty years.
The general rule is that you need to cover inflation plus what you want to withdraw. That way your income goes up as inflation does.
put the money in a standard index fund. take $25k per million out first year. increase that dollar amount by 2.5 percent annually to account for inflation. should last indefinitely unless some moron in a white house blows up the country.
I’m retiring soon. That should add enough to cover inflation.
Wildly jealous. Enjoy!
If I had £500k I’d buy a 10-20 acre small holding and make a decent living. Design it so it’s easy to manage, no expensive machinery and rough calculations should net me £50k a year from a handful of products.
Setup a shop so people can order to pickup and you’re only picking what people order so costs are kept low.
But if I had that kinda money, I could live off £5k a year because I’d pretty much have no electric costs and I don’t like going out so if i didn’t have debt, I’d live a comfy life on very little.
3million used to be the “fuck you” money estimate, but it’s probably more like 12 now, so, 12million dollars.
Roughly a million euros invested would barely keep me afloat. I doubt I’d still stop working though - it’s what keeps me relatively sane and forces me outside of the house.
