What is your "I am done" number?

Discussion in 'The Okie Corral' started by Rabbi, Oct 22, 2015.

  1. Rabbi

    Rabbi The Bombdiggity Lifetime Member

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    What is the dollar amount that allows you walk away from doing the things you have to do so you can do the things you want to do?

    Seriously, have you ever really thought about where that numbers starts? It is going to be different for everyone but at what amount do you own your own life, hopefully, for the rest of your life?
     
  2. nursetim

    nursetim

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    450 trillion dollars. JK

    100 million in cash and 200 million in annuities.
     

  3. el_jewapo

    el_jewapo

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    Most will never have to ponder that and it seems that the ones that have it all together enough to reach that point don't quit either. Why do people like Bill Gates keep working? It doesn't seem like a great deal of self made millionaires ever stop to enjoy it. Maybe some sports figures or entertainers.
     
  4. TK-421

    TK-421

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    Whatever it takes for me to live comfortably for the rest of my years, however long that may be. It'd probably have to be at least 20 million, that way I could live comfortably and not have money worries, even if some unexpected things came up.
     
  5. Rabbi

    Rabbi The Bombdiggity Lifetime Member

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    You would stop showing up for work long before than point, otherwise, you love what you do so much, the amount would not matter.
     
  6. el_jewapo

    el_jewapo

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    My post wasn't really in the spirit of the thread.

    Say I won a lottery or something, I'd probably walk out on 10 million. I might keep working on anything less than that. I don't really know. 20 million, I'm cussing everybody out and leaving work butt ass naked.
     
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  7. Rabbi

    Rabbi The Bombdiggity Lifetime Member

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    Why so much? You make an amount of money now to show up for work everyday (or whatever you do and however you do it) Why would you (I assume) need many multiples more of that to stop doing what you are doing? Why would you keep showing up for work if you had all that income (and projected earnings) replaced?
     
  8. nursetim

    nursetim

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    I remember when a million dollars was a number that would set you up fo life. Now, it ls hardly enough to raise an eyebrow.
     
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  9. Random

    Random Banned

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  10. Diesel_Bomber

    Diesel_Bomber

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    When I made my FU money, I kept doing what I had been doing. I just cut my workload significantly and became flatly unwilling to put up with PITA customers.
     
    Last edited: Oct 23, 2015
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  11. Folsom_Prison

    Folsom_Prison Brew Crew

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    I'd probably run out of work with my ass hanging out for a million saying F this. Then I'd spend probably 50K in the business idea I've had that nobody has seemed to cash in on around here as a gamble.
     
  12. stk10767

    stk10767

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    Realistically, at our age we could walk away from our jobs and never have to worry about working again with a check for about $8,000,000. This takes into account family current income, and factoring in future earning potential. We are by no means 'rich', but we do OK. We also live in a high cost of living region of the US. That amount would cover our future earning potential as well as giving us a nice little nest egg.
     
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  13. TK-421

    TK-421

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    Because there's A LOT of stuff I want to buy but can't currently afford. There's no point in me not working if all I'm going to be doing is making the exact same amount of money. If I only made the same amount I make now and didn't have to work, then all I'd be doing is the same thing I do on my days off, stay at home, be bored, and browse the internet for things I can't afford, which gets really old REALLY fast. If I'm going to stay at home and be bored, then I'm going to do it surrounded by the things I currently can't afford but really want, and to do that, I need many, many multiples of what I'm currently making.

    If I can't get those many multiples, then I'm going to work, that way my time is occupied and I'm not bored out of my mind all day every day, seeing as how what I currently make is barely enough to pay the bills and doesn't leave me enough left over to occupy all the free time I'd have.

    ETA: Plus the fact that I'm only in my early 20s, so I have a lot longer to live than a lot of people on here, you included, so I need a lot more money. Also, now that I think about it, I'd also like to have something left over to give to whatever heirs I might have when I die, as a nice thank-you present for putting up with me when I'm old and cranky.
     
  14. Altaris

    Altaris

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    Do you live in that high cost of living area because that is where your job is, or because that is where you want to live? If you are only there because of the job, you could easily move to an area that costs less to make your money go farther.
     
  15. Budqweiser

    Budqweiser

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    10 million. That would make my work life a little more stress free.
     
  16. Rabbi

    Rabbi The Bombdiggity Lifetime Member

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    That is a very valid question, but a lot of high cost of living places are very desirable to people no matter what they make. People would fight to live in Boston, San Francisco or NYC if they had a dollar or a billion of them.
     
  17. 2bgop

    2bgop

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    I would do, in some way, what I do now no matter how much I had.
     
  18. Altaris

    Altaris

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    NYC and Boston were actually the exact 2 cities I had in mind when I made the statement. I had 4 co-workers/friends take outside sales roles here in those 2 places. They couldn't stand it and couldn't wait to come back to Texas. High cost of living was of course a factor, but they were only there for the job, and would not have been there otherwise.
     
  19. HollowHead

    HollowHead Firm member

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    Quite true. Thankfully, we have numerous family and friends from both sides in NYC that we can stay with at will, and we do so at least twice a year. HH
     
  20. ChuteTheMall

    ChuteTheMall Wallbuilder and Weapon Bearer

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    It's not just the dollars, it's also the irreplaceable time.

    I was making more than ever when I retired early, and I've already outlived my father (who retired in his early 40's.) Another 4 or 8 years on the job would have made a big financial difference, but I might also cross the magic line between senior citizen and elderly. YMMV.

    Like him, I'm anticipating 20 years of active retirement and that's more important to me than just the final 10-12 years with more money. Too many people die soon after retirement.

    I grew up among retired people, some enjoyed life more than others, and neither money nor health alone were the deciding factors.
    :fishing::drowning::suntan:

    If I outlive my money in my 80's I'll go back to Chippendale's part time.:fred:
     
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