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- Thread starter Mtowncyclone13
- Start date
Id say around 500k. It'd be nice not having to worry about a mortgage or putting the kids through college.
1. Enough to pay off the mortgage.
2. Probably 2 mil. Enough to invest and live off of so I could do what I want (which I am not sure what that would be)
2. Probably 2 mil. Enough to invest and live off of so I could do what I want (which I am not sure what that would be)
1. Id say $100,000. Its enough to really change my outlook on the next decade or so but not enough to change my lifestyle (buy fancy cars or houses, etc.) Its enough to set aside / invest and sleep better at night for awhile.
2. $3,000,000 or so probably. $1 million doesnt buy what it used to. That would barely pay for two kids growing up / college etc. Id say $3 million is enough to confidently upgrade my cars / house and still have enough to invest.
2. $3,000,000 or so probably. $1 million doesnt buy what it used to. That would barely pay for two kids growing up / college etc. Id say $3 million is enough to confidently upgrade my cars / house and still have enough to invest.
I think I agree here with your logic. Getting an amount that I know will pay-in-full a house payment and college tuition payments in the future.
I'm with AgronAlum on this on. $500,000 to pay off the mortgage and completely cover my daughter's college would allow more flexibility for some purchases that I may not otherwise make, but not impact my job/living situation.
As far as dramatically affecting my day-to-day life, $2 million (tax-free) would put me in a position to retire 10-15 years earlier than I planned on. Anything less and I'd just pay off the mortgage and put the rest towards retirement.
As far as dramatically affecting my day-to-day life, $2 million (tax-free) would put me in a position to retire 10-15 years earlier than I planned on. Anything less and I'd just pay off the mortgage and put the rest towards retirement.
Furthermore, I would think most people would probably say:
1. Enough money to no longer have to pay their largest monthly bill, ever.
2. Enough money to to replace current income while keeping the lump sum in a low-risk investment.
In the mindset that whatever amount would be put into an account only to be accessed after retirement - $3 million. That would be enough to account for inflation, unexpected expenses and a comfortable lifestyle after retirement.
Dramatically affect day to day life? $10 million. Enough that I could put a good chunk of it away but still have enough to go do a bunch of cool things.
Affect my life would be $2MM. Get $1MM after tax. Pay off house, kids college, and squirrel the rest away. Go back to work in the morning.
Change my life money would be $10MM. You get $5MM after tax. Then pay off house, fully fund kids college, buy new cars, and could still have enough off interest to do about whatever I want. Wouldn't have to work my current job.
Change my life money would be $10MM. You get $5MM after tax. Then pay off house, fully fund kids college, buy new cars, and could still have enough off interest to do about whatever I want. Wouldn't have to work my current job.
What's the going rate for a divorce and trophy wife nowadays?
That's my answer.
That's my answer.
$11.99 for a twelve pack of Summit would be life-changing with the way this day is going so far.
I think I'm interpreting the question more literal than most.
1) $50,000 after taxes would be enough to pay off everything but the house. Without those monthly payments, I would be much more financially secure long-term, but day-to-day life would remain largely the same with same job/house/cars.
2) $500,000 after taxes would be at or near the minimum required to dramatically affect my day-to-day life. I could pay off everything, and even upgrade house and/or cars. If upgrading where you live doesn't dramatically affect your day-to-day life, I think you're lying. My wife could also quit her job.
#1 That's a tough question. No amount of money would change my long term financial security without affecting my day-to-day life. Lets say I get $500k. Nothing would change in my day-to-day life but I would probably plan to retire a couple of years earlier. This is assuming that I put 100% towards retirement. I don't have any debt besides a mortgage that will be paid off in 10 years.
#2 Probably 5 million. I'd retire if someone gave me 5 million but I don't think I'd change my life a lot. Probably move since nothing would be keeping me in Iowa.
There's a reason why the Good Lord doesn't make me super rich.
It would be a parade of young women of every shape, size and color.....guns, drugs, drugs and more drugs...a compound in Mexico
All ending in a hail of gunfire on the Vegas Strip.
It's best I stay in my lane
It would be a parade of young women of every shape, size and color.....guns, drugs, drugs and more drugs...a compound in Mexico
All ending in a hail of gunfire on the Vegas Strip.
It's best I stay in my lane
That's about mine exactly. $100,000 would definitely help build the nest egg, but wouldn't change a thing about my daily life (since I'd save/invest it). $2,000,000 would speed up my retirement date immensely, which would represent a big change to my day to day life (eventually).
At age 45 If I had 5 million I could retire with an income of $150k/year(inflationed adjusted) and still have money left when I was 90. If I had 4 million I'd run out at 80.
