General Discussion

1-Old-Man

(2,667 posts)

27. I can tell you how I did it ...

Mon Aug 12, 2013, 01:05 PM

Aug 2013

First off I saved as much as I could while still providing for my family in a comfortable fashion. By saved I mean I put the money into various investment instruments. I then set my rule. The rule was this, I would keep on working and saving without reguard to retirement until the month the income from my investments (twelve month moving total) exceeded my then current annual income. At that point I would continue working and saving for one more year and then retire. I was able to retire at age 57 and have never charged anyone for a days work since.

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How much money would you need to never work again? [View all] Bunnahabhain Aug 2013 OP

6 - 7 million aikoaiko Aug 2013 #1

I would always want to be doing something useful. canoeist52 Aug 2013 #2

If I had $50K a year coming in, it would let me do whatever I wanted. hobbit709 Aug 2013 #3

What do you mean by 'work?' leftstreet Aug 2013 #4

Never working again can lead to a quick death quinnox Aug 2013 #5

That usually means they weren't laboring at home leftstreet Aug 2013 #16

Well, exactly. People who die from 'not working' generally never lifted a finger at home Nay Aug 2013 #38

+1 You got that right! nt wandy Aug 2013 #23

What would I do if I didn't work? MineralMan Aug 2013 #6

I think I could probably just make it from now to grave on $500,000. closeupready Aug 2013 #7

I go nuts on the weekends if I don't have anything to do liberal N proud Aug 2013 #8

Yup. Igel Aug 2013 #9

I do volunteer work hollysmom Aug 2013 #15

1.25 - 1.5 million. HughBeaumont Aug 2013 #10

But when you're dead BlueToTheBone Aug 2013 #25

30k/year 50 years 1.5 mil. Less if it earns interest. n/t PowerToThePeople Aug 2013 #11

Moot question to me. lpbk2713 Aug 2013 #12

Well, when I was laid off in my late 50's, I was offered a few not great jobs by friends, hollysmom Aug 2013 #13

Unanswerable. Igel Aug 2013 #14

Give me 20 bucks right now TlalocW Aug 2013 #17

heh, yup quinnox Aug 2013 #19

LOL, there we go. closeupready Aug 2013 #28

How much you got? Fuddnik Aug 2013 #18

We are sort of doing that in my household - TBF Aug 2013 #20

75,000 /year x 75 years = ~ $5.5 million Dash87 Aug 2013 #21

Will retire in a little over a year at 65 1/2 HERVEPA Aug 2013 #22

I think I worked it out to be 5 million laundry_queen Aug 2013 #24

I don't work now. bitchkitty Aug 2013 #26

I can tell you how I did it ... 1-Old-Man Aug 2013 #27

So what if it works for you? For most people it doesn't, and don't think you have any control duffyduff Aug 2013 #41

Luck so far, until random shit falls out of the sky. hunter Aug 2013 #45

Work is mandatory and = what you have to do in order to survive. Bunnahabhain Aug 2013 #29

The key isn't money, it's ownership HereSince1628 Aug 2013 #30

Money buys ownership if you want it to. Bunnahabhain Aug 2013 #33

Yes, IF you have it. HereSince1628 Aug 2013 #34

Depends. How long am I going to live? Seriously, I love my work. lumberjack_jeff Aug 2013 #31

A lot. Only 24, and I know things are only going to get more expensive. NuclearDem Aug 2013 #32

1 Million Minimum cantbeserious Aug 2013 #35

This message was self-deleted by its author Adam051188 Aug 2013 #36

Actually not much at all.... Fix The Stupid Aug 2013 #37

Nothing. I've got some experience as a feral human. hunter Aug 2013 #39

50k a year, for life n/t duffyduff Aug 2013 #40

Money would allow me to work more Duer 157099 Aug 2013 #42

I imagine many of us think this. Bunnahabhain Aug 2013 #43

Yeah, but you're working FOR someone and their beliefs/vision woodsprite Aug 2013 #44