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[–] 3 points 15 hours ago

2.5 million and I quit my job. 100k/year passive income. I'm learning to cook, probably adopting a child or 2.

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  • [–] 2 points 16 hours ago

    $300,000

    High yield savings account would get you a little over 1k$ a month from interest alone. I already live on less than that. I'd just live off the interest.

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  • [–] 2 points 17 hours ago

    I've never thought it all out, but 5-10 million USD. It's probably overkill, but I'm budgeting expense if I need to help my family out in the US as they age and such.

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  • [–] 2 points 19 hours ago*

    $50 mil, just enough to be reckless and still retire. I'd never work again. Vacations 24/7.

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  • [–] 2 points 23 hours ago

    Whatever I need for churnin passive income to be comfortable and do some travel til end of life

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  • [–] 1 point 23 hours ago

    50 million dollars, the ransom for Kelsey Chelsea Grammer Clinton in 1998.

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  • [–] 16 points 1 day ago (2 children)

    10 mil. Enough to absorb all but the worst shocks to the stock market, continue to grow if desired, or pull $500,000/yr interest at a conservative 5% growth. $500,000 year means you could afford the Lamborghini, but you still gotta make payments.

    IMO $2-3 million today is about the “millionaire” of yesteryear, someone we used to call rich but not crazily so. $10 million is actual passive wealth that is enough to live very well without touching the principal.

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  • [–] 5 points 1 day ago* (1 child)

    If you want it to run indefinitely then you need to let the principle grow with inflation as well, so with 5% growth and 3% CPI you have $200k to spend each year (which will also scale with CPI)

    Edit: you'll also have to choose more risky investments to stay above CPI, which means the stock market rather than fixed interest, and means your pot of money can change quite a bit with market shifts, and you may need to downsize expenses in some periods or risk eating into your principle if you can't trim your lifestyle

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  • Yes, I understand that and stated that the amount could be allowed to continue to grow as one of the choices for the investment. There was no need for me to get into the details and make it a financial lesson in respons to a hypothetical fantasy amount of money.

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  • [–] 3 points 1 day ago

    10 million. Maybe I’d take 5 if i was going to leave the country, which I might with that much.

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  • [–] 11 points 1 day ago (1 child)

    700k and I'd be choosing to be dirt poor in monetary value.

    But I'd have freedom to live. Not lavishly, but I'd be free. Read books. Exercise. Creat art. Love, maybe.

    There are many things in life that are both valuable and nearly costless. That'd be better than what I do now.

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  • [–] 2 points 1 day ago (1 child)

    $1 Million.

    Everything I'd be paying now, I'd be good for 15 whole years. By the time those 15 years end, I'd be in my 50s. But I'd have all of the time between now and then to like, develop skills that are of use to me.

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  • [–] 7 points 1 day ago

    OP should probably have asked for the ages of people responding. One million takes an old person beyond the grave but might fall short for a 20 year old.

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  • [–] 40 points 2 days ago (7 children)

    3 thoughts of school:

    1. Actually never working at all from my 30s onward, probably around 10 mil €.

    2. Quitting my job and getting into lazy investment to get a passive income, around 1.5 mil €.

    3. Playing into me being passively suicidal, if I loose my job and the number hits zero, I'm just killing myself. Technically that would also mean I don't have to work again.

    Number 3 is the most realistic one.

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  • [–] 31 points 2 days ago (3 children)
    1. Playing into me being passively suicidal, if I loose my job and the number hits zero, I’m just killing myself. Technically that would also mean I don’t have to work again.

    Dude, if you really want to do that, don't waste your life pointlessly: rob a few banks and give the money to charities, Luigi a few billionaires, and play cat-and-mouse with the cops until they find you, and then make sure they suicide you, not you.

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    [–] 7 points 1 day ago* (2 children)

    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.

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  • [–] 8 points 2 days ago (3 children)

    4 million invested with 5% withdrawal rate and 400k in HYSA. 200k per year with 2 years in reserve to buffer any sequence of return risk on the 4M. Adjust spending and rate as needed.

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    [–] 23 points 2 days ago (4 children)

    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.

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  • [–] 20 points 2 days ago* (3 children)

    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.

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  • [–] 8 points 2 days ago*

    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.

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  • [–] 19 points 2 days ago

    3million used to be the “fuck you” money estimate, but it’s probably more like 12 now, so, 12million dollars.

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  • [–] 26 points 2 days ago

    Impossible to answer with all this AI BS that's about to implode & take down a significant chunk of the economy with it.

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  • [–] 20 points 2 days ago* (last edited 2 days ago) (7 children)

    i retired at 35 and am now 60, i have nothing like what people say they need here. i have been investing since 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.

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    [–] 14 points 2 days ago

    2 500 € per month multiplied by months of, say, 50 years.

    2 500 € * 12 * 50 = 1 500 000 €.

    Would not be a rich life, absolutely not, but would leave me with enough money to live even if the part I'd invest was to be lost.

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  • [–] 7 points 2 days ago

    2M. I'm also older so this should be enough.

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  • [–] 4 points 1 day ago

    Somewhere between 5 and 10 mil, even at only 1% interest rates that should cover everything I reasonably need

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  • [–] 7 points 2 days ago* (last edited 20 hours ago)

    Millions, certainly. Probably about 2 of them, if we had that today I would be pretty confident. That is not likely to actually ever happen, or at least not before it wouldn't be enough.

    ETA: I am near 60 & husband just past that so we don't need to plan for as long. It would be more if we were younger.

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  • [–] 16 points 2 days ago (3 children)
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    [–] 8 points 2 days ago

    probably 7 million, minimum.

    1 million for a house, furniture, car, debts.

    then about 6 million into one of those savings accounts that give like 3% interest but are heavily restricted on transactions and such, and just like once a year pull the interest out and live off that.. should be more than enough to cover a year of decent living if you arent stupid.. and any money left over at the end of the year can be put back into the account to slowly increase the base amount and thus how much you get in interest every year.

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  • [–] 2 points 1 day ago

    3.5 million. I'm 31

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  • [–] 15 points 2 days ago*

    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.

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  • [–] 5 points 2 days ago (1 child)

    I wouldn't stop working.
    With ~500k I'd take a few months of leave, reduce my hours to working 6h/4d/week, and only take the shifts I want to. I need to keep some rhythm otherwise I stop functioning.

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