How much money to stop working and start living?

27 replies
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I'm not saying you would stop being active in life, but how much is a number you can say, "This is enough", and maybe purchase the home(s) of your dreams and start travelling more, etc?
#living #money #retire #start #stop #working
  • Profile picture of the author Devin X
    Banned
    This post probably belongs in the Off Topic thread...
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    • Profile picture of the author Aouragh
      Originally Posted by TheRealDudeman View Post

      This post probably belongs in the Off Topic thread...
      I second this.

      ON-topic: It's different for every human being. One is satisfied if he can do what he likes and doesn't have to work for a boss. Another person wants more then that and wants to live the life everyone dreams of.
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      • Profile picture of the author KimW
        Originally Posted by TheRealDudeman View Post

        This post probably belongs in the Off Topic thread...
        Originally Posted by Aouragh View Post

        I second this.

        ON-topic: It's different for every human being. One is satisfied if he can do what he likes and doesn't have to work for a boss. Another person wants more then that and wants to live the life everyone dreams of.
        And why is that?
        Why is it every post someone doesn't like "belongs in off topic"?
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        • Profile picture of the author seasoned
          Originally Posted by KimW View Post

          And why is that?
          Why is it every post someone doesn't like "belongs in off topic"?
          Some people will say "$30,000/year is PLENTY, and I will live maybe 40 years, so 1.2Million is FINE!" I already illustrated the fallacy of that type of thinking.

          And some live in some cheap apartment in a moderate area with cheap utilities and resources, maybe even with ROOMMATES! Some live in a home in a less moderate area with gougers.

          RARELY does one understand the other.

          IMAGINE! With what I have now, in the 1930s, I could retire a VERY EXCEEDINGLY rich person! I could have even a few YEARS ago! I could probably easily parlay it into several million dollars! I would be FILTHY RICH! TODAY, I wouldn't feel safe for more than 8 years(if I had NO taxes or penalties and inflation didn't affect it). To attempt to make more would be too risky!

          Hey, if you don't get what I am saying, look at how much the average person lived on then and now! A PENNY then was a LOT! NOW, they are likely to get rid of the DIME in a few years! They have ALREADY devalued the material used to make IT, the nickel, and the penny.

          Steve
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  • Profile picture of the author datingworld
    money is never enough.........human nature
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  • Profile picture of the author anyo1982
    It depends on the person in question, and is not the same living in NYC than in a small village on any corner of the world
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  • Profile picture of the author rendell
    Enough = Passive Income > Cost of living

    The formula can be applied to all parts of the world.
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    Ever notice that people who spend money on WSO, memberships and courses, are always complaining about being broke and not making any money ?

    They should have bought ASSETS instead.

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  • Profile picture of the author venkateshk
    I know there is someone who lives in the forest (somewhere in the UK) with absolutely no place for money in his life. You can search the internet for his story, but yeah, this topic could have been well off...on another forum.
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  • Profile picture of the author rondo
    Good question. There was a similar thread about this last week:
    http://www.warriorforum.com/main-int...-you-stop.html

    I've figured out an amount that I need to make and it's a lot more than I expected especially when you include taxes, retirement etc. But then I live in a very expensive city in an expensive country.

    As for travel, do it now, do it often. Don't wait until you're older.


    Andrew
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  • Profile picture of the author Troy_Phillips
    Many of you are saying this is in the wrong section .. is it?

    If you are barely getting buy selling stuff .. it might be for you. If you have turned the corner and come to the realization selling cures and thrills is more productive .. this belongs in the make money section.
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    • Profile picture of the author salegurus
      Originally Posted by Troy_Phillips View Post

      Many of you are saying this is in the wrong section .. is it?
      Probably is, but with so many frivolous threads on the main forum does it really matter...
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  • Profile picture of the author talfighel
    I am always going to be active no matter what. I love to come online almost everyday and get my tasks done with.

    Need to keep myself BUSY.
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    • Profile picture of the author robestrong
      I could set a number, but it would probably change the more success I had.

      That said, if you loosen your definition of living to just enjoying life regardless of what comes your way, I could probably get by with going broke. Actually living homeless (or relatively so) for a couple of months after I finish my degree is one of my main goals on my "bucket list" of sorts.
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      • Profile picture of the author dvduval
        Originally Posted by robestrong View Post

        I could set a number, but it would probably change the more success I had.

        That said, if you loosen your definition of living to just enjoying life regardless of what comes your way, I could probably get by with going broke. Actually living homeless (or relatively so) for a couple of months after I finish my degree is one of my main goals on my "bucket list" of sorts.
        I've done this too. It's a cool feeling to have no home for a short time, so long as you have resources. I spent about 10 days like this last year.
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  • Profile picture of the author JohnV88
    It highly depends on the individual we all are different in terms of needs thinking ect !
    What may be a good number for you maybe a bad for someone else & some may only like working they don't want to stop.
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    • Profile picture of the author DanielleDeHann
      It's all about lifestyle. Our family lived like we were on welfare our entire lives and now my parents are millionaires. Both are civil servants and neither has made over $75,000 ever in their lives. They are still very young too!

      If you can live like you are poor for your working years, you can shorten those working years and live comfortably during early retirement.

      It's all about spending much less than you make and making wise investments!

      ZERO DEBT as well. That's very important.
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  • Profile picture of the author lalit657
    that's upto a person dreams...how much he want...but I want a simple peaceful life in the feet of lord krihna....but I have some works to do before that...that's why i am not able to left this material world...
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  • Profile picture of the author Chris Donne
    I came online, from the corporate world where i made good money for a long time, with several goals, the first being able to quit the day job, which i did within 9 months, after that, its human nature to want to grow and develop, business and personally,
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  • Profile picture of the author clickfund
    You really cant put a number on it, as everyone"s wants and needs to have job freedom will be different
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  • I will give you my figure: 5 millions.
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    • Profile picture of the author dvduval
      Originally Posted by Anonymous Affiliate View Post

      I will give you my figure: 5 millions.
      Someone willing to put out a number!

      I probably would not continue with an internet business at this number myself.
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      • Profile picture of the author Enfusia
        Since tomorrow's my birthday and I just did my New Year's goals and goal by my 50th birthday next year I can tell you.

        I plan on retiring to South America so here's what it will take.

        $250K for the condo + $50K to furnish it. (that same condo would cost 1.5 million and up here).

        Enough invested to return $240K per year for expenses and travel (I currently get 14% return from Mongolia so you can do the math) (No, I'm not from there).

        By obtaining citizenship in my host country and earning the % outside the USA I won't incur any tax liability (this is not tax advice, please seek the council of a qualified tax authority for all your decisions).

        My expenses with my housing paid for will run about $1,200 a month. This will leave enough to play with.

        For all those who say "well you really can't put a number on it" I'm sorry but I disagree. You may not have your goals well enough thought out or don't have any because you're not making any money so why plan that far out. Or you might be scared to put yourself out there on an open forum.

        But one thing I can assure you of: if you don't know what your goals are you won't reach them.

        I know I will likely take some heat for that statement because hitting really close to home stirs a lot of emotion, But, oh well.

        Patrick
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    • Profile picture of the author Josh Monroe
      Originally Posted by Anonymous Affiliate View Post

      I will give you my figure: 5 millions.
      I agree with this, $5,000,000 has always been my number. $1,000,000 is no where near enough to be able to live comfortably, but $5,000,000 gives you enough to live comfortable and still have some left to play with.

      With that $5,000,000 you could easily retire, buy yourself a decent home and that car you've always wanted. So, I'd say that leaves me with around $3,500,000 (1.5 mill for the house, I've already got the car I've always wanted).

      Then, the remaining $3,500,000 get split. $1,000,000 straight into the bank for living expenses the remaining $2,500,000 get split between the stock market and expanding my offline interests such as buying/renting property and similar investments.

      So, I've still got money coming in (plus interest) whilst being able to live the life I want.
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  • Profile picture of the author davegarcia939
    It's not measurable because what you gonna need in the future you don't know. So you got to keep working,
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  • Profile picture of the author dvduval
    Sounds like an excellent plan Patrick. I have a friend that has a similar plan but of the Philippines. Just make sure you look before you buy!
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  • Profile picture of the author igetit508
    I figured out for my 2 kids and I to live comfortably, have college paid for, have emergency money and leave them money after I am gone I will have to earn $7 million AFTER TAXES which means I have a lot of work to do even though I am already pretty successful online lol. I plan on reaching this goal in the next 10 years which means I must earn close to $4000 a day.
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  • Profile picture of the author seasoned
    Well, I WOULD have said 80-40=40*30K=1200K, so 1.2MILLION for a nice 40 year retirement.

    NOW, I am older, so I would say somethng more like:

    80-50=30*80K=2400, so 2.4MILLION for a decent 30 year retirement. But WAIT A SECOND! NEITHER takes into account the current inflation rate, etc... You see, 2.4Million is actually LESS than 1.2MILLION! So we have to add a factor. 100 might be a good factor. SOOOOO.......

    2.4M*100=240MILLION for an ok 30 year retirement. SCARY!

    BTW if you have kids, add 200K to 300K, EACH, for college. If you are very sick, an extra 5 million or so couldn't hurt.

    Steve
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