What $$$ could you retire at

At what bank statement could you feel like you could retire? Sorry for the awkward way I phrased the question. For me $4,000,000

 

no man $ 5,000,000 will be fine for me

 

The rule is that you can safely take 4% of you dollars per year. $4M means $160k per year. I could take $3M and have a happy life. . I would still work but it would only be based on what I like, not making $. I would want to be a teacher and make $40k per year so I guess that would drop me down to needing $2M now.

 

hahaha... that's why you should never drink while on the net...

 

=GatesAssets

I think you can edit your Last Post!

 

I plan on retiring after I have made at least $1,000,000 USD (or equiivalent when I make it, due to inflation)

Hopefully, long after.

 

$2M seems about right to me.

 

I could retire on $300,000, but I would like to make more. I don't care about cars, so I won't buy them. As far as a house is concerned, instead of putting $10,000 down payment towards a 30 year mortgage, I would invest in tax liens or get a foreclosed home, keeping most of the $300,000 in my bank accounts.

 

$300k would give you about $15k/yr to live on.

Where do you live?

 

Too young to even think about retiring, but maybe a few mil?

 

I live in Nevada, which is cheaper than other states. If I had $300,000, I might move to an even cheaper state such as Wyoming or North Dakota. I hear some states give tax incentives to those that move there, because they are having a net migration out of the state.

I guess many college students are graduating, and are leaving states like Montana and Wyoming to get good jobs in big cities. At the same time, these places are great for people who are ready to retire. In LA $300,000 wouldn't last very long, but you could live good in some states if you do your homework.

 

Nevada is actually one of the higher states as far as median income.

The census bureau says... try West Virginia.

 

now i only 19yrs old, but i hope over mill ^^

 

A couple of mil I guess, though I'd probably keep it in property rather than i the bank. I'd be too worries about inflation wiping out some of the worth. I think 4-5 properties would be comfortable, probably with a total value of about £1.5m generating £5-7k in monthly rental income.

 

I wouldn't retire as such but to be in the position to be able to I'd need assets of about 4 mill

 

5 Million should be fine for me to retire, i hope i achieve that.

 

5 or 6 million would be enough for me

 

I wouldn't retire on anything less than 50-60 mil. I don't want to think about my money, just live comfortably.







Plus the fact that I don't really think about this question