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How much money would you need to be happy?

Discussion in 'The Okie Corral' started by gwalchmai, Mar 20, 2017.

  1. gwalchmai

    gwalchmai Lucky Member

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    Jonesee's thread made me wonder. Frankly, I'm afraid that with any amount of income I'd still fret about losing it all and having to live on cat food. And cat food's pretty dang expensive!

    But assume you have a house and cars paid for and expenses covered, would $2 million do it? $4 million?

    And BTW, Hillary's coming back for our 401-Ks...
     
  2. Bruce M

    Bruce M

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    How much does a boat that is big enough to have an elevator and a helipad cost?
     
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  3. r3dot

    r3dot

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    Any free money makes me happy. I'd say a mill for a great retirement would be enough.
     
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  4. F14A

    F14A

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    5G.

    Yes, about 5 grand...

    Just kidding..
     
  5. 686Owner

    686Owner NRA Life Member

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    I think I recall somewhere that most people think that they would finally be happy if they were making about twice what they currently make. I'm not sure about lump some.
     
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  6. gwalchmai

    gwalchmai Lucky Member

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    i.e., if we just got to keep all we make... :supergrin:
     
  7. SRS

    SRS

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    I'm not sure about the happiness aspect. If I reframe the question to be how much I'd want right now to retire and not work again, I think it would be in the ballpark of $10M. I had an interesting conversation about this with a hedge fund guy who had given it very real thought because it was a real issue of some immediacy for him.

    When I took a planned break between jobs, I realized that not having a job to go to each day was both stress-inducing and expensive. I think I would adapt to the routine, but I don't want to pinch pennies.
     
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  8. Randylahey53

    Randylahey53

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    Given my age and whatever money I have I would need to last 42 years to make it to 80, also with buffer for inflation, I'd probably need 100,000 a year to live like I am now but also eliminate the worry, credit for inflation, etc etc. that's 4.2 million. If housing was paid off I'd probably be ok with 80k a year. I also live in a high priced area though I will say with that kind of money I'd definitely move off to some acreage in Wisconsin so maybe I could live off less.
     
  9. gwalchmai

    gwalchmai Lucky Member

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    Fortunately for me, Alcoa always needs shiny-side polishers.
     
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  10. Huaco Kid

    Huaco Kid

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    Ohhhhhhh......... 'bout tree-fiddy.
     
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  11. Firearmfanatic

    Firearmfanatic The Enabler Silver Member

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    $100,000 would take care of everything for me right now. I am retired and do not wish or want for anything. I learned early on to manage my funds, invest them wisely and make them work for me instead of me working for them.
     
  12. Johnix

    Johnix

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    100k would make me happy
     
  13. Rabbi

    Rabbi The Bombdiggity Lifetime Member

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    The usual answer is "Just a little more...."
     
  14. JoeCitizen

    JoeCitizen

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    Do you mean lump sum sitting in a bank or that much per year?
     
  15. Jonesee

    Jonesee

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    My best friend is a self made man. Grew up poor on a farm, got to go to college because he was able to get an athletic scholarship. Built 2 companies, one of them is nationwide, and sold them both. I grew up without and haven't had his success but have been blessed financially

    One night sitting by the pool having drinks he admitted that he worried every day about losing it all, I admitted I did too.

    I don't think that anyone who was raised without ever gets over that feeling. There is never enough. You always want more to build a bigger cushion between where you are and where you came from.
     
    Last edited: Mar 20, 2017
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  16. gwalchmai

    gwalchmai Lucky Member

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    Amounts to the same thing ultimately, doesn't it? :)
     
  17. gwalchmai

    gwalchmai Lucky Member

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    Yep. My biggest fear is not leaving enough. And it's a dumb fear, because you can never really leave enough to deal with every contingency.
     
  18. JoeCitizen

    JoeCitizen

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    2 mil total vs 2 mil a year for 40 years.. no, not really.
     
  19. gwalchmai

    gwalchmai Lucky Member

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    Well, if 2M / yr is what it would take, 2M in the bank isn't enough. OTOH, if 2M in the bank is "enough", you can be happy with a lot less.
     
  20. ARP

    ARP

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    Substitute the word content.