Atreides Posted April 21, 2006 Share Posted April 21, 2006 How much cash or assets (convertible to cash) do you need/want before you call it quits on your job/investments and sit back to enjoy it? Rich investors probably got there because they didn't sit back but continued to keep working, investing what they had till they are where they are now. But eventually numbers in your bank account start to mean less if you've spent your youth number crunching and you're unable/too late to spend those numbers. Whether it's that romantic trip to the Caribbean or devoting your time to customizing bikes, why wait till you're 70? Anyway what's that magic number that you guys would say "I've enough cash, I'm going to stop doing any work and just enjoy myself"? I guess that figure's adjusted for cash for the kids or whatever. Spreading beauty with my katana. Link to comment Share on other sites More sharing options...
Walsingham Posted April 21, 2006 Share Posted April 21, 2006 Since enjoying the cash involves spending it on goods and services (unless one intends to make it into a vast bed and sleep on it), then the question really depends on where you spend it. For example, 500k will not take you all that far in the United States, but in Thailand you'll live like a king. I would be inclined to enjoy my money as I go along. You never know when you will pop your clogs. "It wasn't lies. It was just... bull****"." -Elwood Blues tarna's dead; processing... complete. Disappointed by Universe. RIP Hades/Sand/etc. Here's hoping your next alt has a harp. Link to comment Share on other sites More sharing options...
mkreku Posted April 21, 2006 Share Posted April 21, 2006 But maybe working is how they enjoy themselves? Money is just a by-product of them enjoying themselves! Swedes, go to: Spel2, for the latest game reviews in swedish! Link to comment Share on other sites More sharing options...
Lare Kikkeli Posted April 21, 2006 Share Posted April 21, 2006 Enough for me to buy all the gadgets i want, and live comfortably. I'll probably never get that much money, but hey, who will? The more money you get the higher the sum goes. Link to comment Share on other sites More sharing options...
Lyric Suite Posted April 21, 2006 Share Posted April 21, 2006 But maybe working is how they enjoy themselves? Money is just a by-product of them enjoying themselves! <{POST_SNAPBACK}> That defenatly seems to be the case. Link to comment Share on other sites More sharing options...
Diamond Posted April 21, 2006 Share Posted April 21, 2006 But maybe working is how they enjoy themselves? Money is just a by-product of them enjoying themselves! <{POST_SNAPBACK}> Yes, if you work as a game reviewer! :angry: Link to comment Share on other sites More sharing options...
astr0creep Posted April 21, 2006 Share Posted April 21, 2006 It's probably not that simple but: If I would win or be given or work enough to have 1 000 000$CAN I would put everything in a savings account and live off the interest, which would be around 5% so 50 000$CAN a year, which is quite reasonable to live on. And I would find a relax part time job like in a Blockbuster Video or something. However, from what I've noticed about the Rich is that the more money you have, the more you think you need. It probably has something to do with the lifestyles of the Rich. For example, not many millionnaires will keep driving a Ford Festiva while still living in a 3 1/2 apartment downtown, even if it is very well furnished and the car is in perfect condition... http://entertainmentandbeyond.blogspot.com/ Link to comment Share on other sites More sharing options...
Hurlshort Posted April 21, 2006 Share Posted April 21, 2006 This question has a ton of variables in it. Both me and my wife are teachers. We'd like to have kids soon. That is a pretty serious crimp on the cash flow, but it's also extremely important to us. If we didn't, I'm guessing we could live much larger and retire earlier, but again, priorities. I'd like to retire at 57. That will give me 30 years as a teacher and hopefully a very solid retirement fund to pull from. I also imagine that I can sell my house in the Bay Area (I haven't bought it yet, but that's beside the point) and use the money to buy a much cheaper house elsewhere in the country. Even with that in mind, there are just too many variables to know how much money I'll need. The government takes some, health issues seriously drain money, and I don't want to leave nothing to my children. My wife probably won't let me move out of the Bay Area either Anyways, if I hit it big in the lottery, I'd still teach, since I love the job. I would probably invest in some real estate and use the interest like Astro. I'd teach 60% and travel extensively. Link to comment Share on other sites More sharing options...
Diamond Posted April 22, 2006 Share Posted April 22, 2006 If I would win or be given or work enough to have 1 000 000$CAN I would put everything in a savings account and live off the interest, which would be around 5% <{POST_SNAPBACK}> ...which would be lost to inflation every year? Link to comment Share on other sites More sharing options...
Craigboy2 Posted April 22, 2006 Share Posted April 22, 2006 How much cash or assets (convertible to cash) do you need/want before you call it quits on your job/investments and sit back to enjoy it? Rich investors probably got there because they didn't sit back but continued to keep working, investing what they had till they are where they are now. But eventually numbers in your bank account start to mean less if you've spent your youth number crunching and you're unable/too late to spend those numbers. Whether it's that romantic trip to the Caribbean or devoting your time to customizing bikes, why wait till you're 70? Anyway what's that magic number that you guys would say "I've enough cash, I'm going to stop doing any work and just enjoy myself"? I guess that figure's adjusted for cash for the kids or whatever. <{POST_SNAPBACK}> Well if you ask a crack head that question. He'd shout back "When I'm dead!". "Your total disregard for the law and human decency both disgusts me and touches my heart. Bless you, sir." "Soilent Green is people. This guy's just a homeless heroin junkie who got in a internet caf Link to comment Share on other sites More sharing options...
astr0creep Posted April 23, 2006 Share Posted April 23, 2006 If I would win or be given or work enough to have 1 000 000$CAN I would put everything in a savings account and live off the interest, which would be around 5% <{POST_SNAPBACK}> ...which would be lost to inflation every year? <{POST_SNAPBACK}> Sometimes there's inflation, sometimes there's depression. Although your point is a good one nowadays. But I wouldn't stop working because for one thing, one million is not a lot anymore and also, I would go nuts. http://entertainmentandbeyond.blogspot.com/ Link to comment Share on other sites More sharing options...
Surreptishus Posted April 23, 2006 Share Posted April 23, 2006 Ermm... inflation is usually ever present. You probably mean economic growth. Link to comment Share on other sites More sharing options...
Blarghagh Posted April 23, 2006 Share Posted April 23, 2006 Enough is enough when you feel that you have lived a full enough life. Since peoples desires aren't static, that means it'll never be enough. Link to comment Share on other sites More sharing options...
Atreides Posted April 23, 2006 Author Share Posted April 23, 2006 You can factor in inflation by buying an annuity with increasing payments. Set aside/invest enough money now for future payments that increase and hopefully adequately cover inflation. Spreading beauty with my katana. Link to comment Share on other sites More sharing options...
J.E. Sawyer Posted April 24, 2006 Share Posted April 24, 2006 I have no idea. I don't really "do" financial planning. I blow most of my money on my house in Wisconsin, my car, and my motorcycle. WOOOOOO! I may be a Wal-Mart greeter in 2036. twitter tyme Link to comment Share on other sites More sharing options...
Stephen Amber Posted April 24, 2006 Share Posted April 24, 2006 I've come to the conclusion that I need to marry into some money. Link to comment Share on other sites More sharing options...
Atreides Posted April 24, 2006 Author Share Posted April 24, 2006 I have no idea. I don't really "do" financial planning. I blow most of my money on my house in Wisconsin, my car, and my motorcycle. WOOOOOO! I may be a Wal-Mart greeter in 2036. <{POST_SNAPBACK}> Would you sign my copies of IWD2 and NWN2? Spreading beauty with my katana. Link to comment Share on other sites More sharing options...
Walsingham Posted April 24, 2006 Share Posted April 24, 2006 My family arrange things like investment portfolios, and as a consequence I do not trust the industry whatsoever. IMO you are better off putting your money into things like compromising photographs of politicians, and real estate. "It wasn't lies. It was just... bull****"." -Elwood Blues tarna's dead; processing... complete. Disappointed by Universe. RIP Hades/Sand/etc. Here's hoping your next alt has a harp. Link to comment Share on other sites More sharing options...
astr0creep Posted April 24, 2006 Share Posted April 24, 2006 I know next to nothing about money handling. Hence, I am poor. Is it possible for "normal" people, like me, to invest in credit card companies like Visa, Master Card, AmEx? It seems to me all the money in the world belongs to them and surely we can have a piece of that pie? http://entertainmentandbeyond.blogspot.com/ Link to comment Share on other sites More sharing options...
WITHTEETH Posted April 24, 2006 Share Posted April 24, 2006 Was the idea of credit a benefit in the first place, has it made life easier in the long run? Sure anyone can buy a house just aout with fair credit but now we have people who are slaves to their own material goods. This is a serious question, if someone could answer it please, I've been thinking about it for awhile. The united states seems like the donald trump of the world. Is it fair for others to buy up all the housing property and rent it to us for a higher price then they are buying? It seems to bring up housing, and make it next to impossible to get a cheap home that is decent. Always outnumbered, never out gunned! Unreal Tournament 2004 Handle:Enlight_2.0 Myspace Website! My rig Link to comment Share on other sites More sharing options...
astr0creep Posted April 24, 2006 Share Posted April 24, 2006 Was the idea of credit a benefit in the first place, has it made life easier in the long run? Sure anyone can buy a house just aout with fair credit but now we have people who are slaves to their own material goods. This is a serious question, if someone could answer it please, I've been thinking about it for awhile. The united states seems like the donald trump of the world. Is it fair for others to buy up all the housing property and rent it to us for a higher price then they are buying? It seems to bring up housing, and make it next to impossible to get a cheap home that is decent. <{POST_SNAPBACK}> You can still get a "cheap", decent home or appartment if you get out of the big cities. Living in Montreal, I pay 650$CAN/Month for a crappy(infested with ants, falling apart, nothing includied) 4 1/2. For the same monthly payment I could have a nice house 15 minutes north of the city, all taxes included with a 10-15 years mortgage. 5 1/2 with basement and parking space(I have glorious street parking now...) http://entertainmentandbeyond.blogspot.com/ Link to comment Share on other sites More sharing options...
Walsingham Posted April 24, 2006 Share Posted April 24, 2006 Ditto for the UK. All my coworkers and acquaintances are complaining about high house prices in the SouthEast. I say 'serves you right for being insufferable snobs and refusing to live in the North'. "It wasn't lies. It was just... bull****"." -Elwood Blues tarna's dead; processing... complete. Disappointed by Universe. RIP Hades/Sand/etc. Here's hoping your next alt has a harp. Link to comment Share on other sites More sharing options...
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