As the title suggests, I’m curious about the minimum amount of money, in a lump sum payout, you would be willing to voluntarily retire for.
The stipulations are simple:
You cannot do anything which results in a paycheck for the rest of your life. You must live off investments or other passive income sources (rental income, pensions or social security if you already qualify, etc.)
I’m closing in on 40-years old. At this point in my life, I would be willing to retire for a $5 million lump sum payment. I have relatively low expenses–locked in a nice 3.25% rate on my mortgage, own my car outright, no outstanding debt, etc.–and I could reasonably expect ~$150,000 in annual passive income from $5 million smartly invested.
But what about ya’ll?
Comments
I think I could live off of $80,000 a year. So let’s assume a 3% interest. X = 80,000/0.03, or 2.67 million.
So realistically I could probably do 2 million and slowly cannibalize the initial sum.
I’m 27 with 3 kids, super comfortably? 50m no question.
Id probably take the deal for 15m. Enough to invest for return and stash for the kids.
Enough to play off my houses plus a bit, so probably around $1.5M should be enough to be self sustaining
$5M. It wouldn’t be difficult.
Being 29. Probably at least 25 million. Just to be safe.
But then again I dont understand stocks and investments and stuff. I just know to not go into debt, save money, and put into my retirement.
I figure that gives me 50years at 500,000 a year. I’d probably save most for the first years then use it at the end of my life to offset inflation.
$10 mm is my number.
We’re close to retirement as is but I actually enjoy my job. A million probably does it. Added to our pensions and investments that’s roughly $15k monthly with a 4% withdrawal rate.
$5M would do it for me
I retired at 39; investment account plus cash amounted to around $1.3 million, give or take.
House and cars paid off; no debt of any kind; wife still works; no kids; mid-sized city in the Midwest.
Four years later, the accounts are sitting somewhere around $1.8 million; there’d be another $100k there if a certain idiot hadn’t decided to do his best to fuck everything up for our country in the last couple months.
I don’t want or need much and my wife is making good money at a job she loves so it doesn’t bother her at all that I no longer work; on the contrary, she’s thrilled for me.
I could spend 300k tomorrow to set myself up. So i’d go with a million post tax english pounds please.