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Bunnahabhain

(857 posts)
29. Work is mandatory and = what you have to do in order to survive.
Mon Aug 12, 2013, 01:08 PM
Aug 2013

If you can survive without showing up at a job it's not work but rather something you have decided to occupy your time with.

For those kicking in Social Security I would remind you the maximum benefit this year is for someone that does not start collecting until they are 70, and has hit the SS cap contribution every year for many years, and it's 3.35k or 40.2k per year. Few people wait until 70 and few people have earned the cap the required number of years. http://ssa-custhelp.ssa.gov/app/answers/detail/a_id/5/~/maximum-retirement-benefit

Most financial planners will tell you 4-5% "spend rate" is safe. It will allow you to weather the ups and downs and grow your nest egg to allow for inflation. So $5 million gets you a "safe" income of 250k per year, in 2013 dollars. Also keep in mind your taxes will change. They will go to being more Mitt Romney style as you're looking at capital gains and divided income not wage income.

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
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