How much money does it take to retire wealthy and live of intrest? - GoFuckYourself.com

olivier69 · 02-25-2006, 04:26 PM

Compound intrest etc, anyone did any calculations yet?

The Heron · 02-25-2006, 04:28 PM

Well that'd depend on a number of variables, not the least of which is what your level of spending will be.

After Shock Media · 02-25-2006, 04:33 PM

Tell us a figure you want/need per year and we can give you the figure you need to have that in interest each year.

Otherwise it would depend on a great deal of variables.
Plan on having everything paid off, mortgage etc.
Plan on not getting sick ever?
Plan on living in one location (current, etc)?
Wanting to not work at all again?
Playing keep up with the jones'es or ok with having just what you need?
Going to be putting kids through school?
and the list can go on.

olivier69 · 02-25-2006, 05:09 PM

Just an amount to live VERY comfortably and never have to worry again.
How much would you need - 10 million USD?

After Shock Media · 02-25-2006, 05:11 PM

Quote:

Originally Posted by olivier69

Let's say you have 10 million USD, what would that bring you.

More than enough to be comfortable.

olivier69 · 02-25-2006, 05:11 PM

Ok and how would you make sure of that.. get 6% yearly from your bank?

ChefJeff · 02-25-2006, 05:12 PM

With 8 million invested in low risk mutual funds etc... you could live off of 500 grand per year for 30 yrs. Just a ballpark guess

8 Characters · 02-25-2006, 05:12 PM

If you have $10mil, hire a stock broker and tell him to go nuts.

olivier69 · 02-25-2006, 05:15 PM

Quote:

Originally Posted by 8 Characters

If you have $10mil, hire a stock broker and tell him to go nuts.

I woulnd't risk that, he might fuck you over or something

After Shock Media · 02-25-2006, 05:15 PM

Quote:

Originally Posted by olivier69

Ok and how would you make sure of that.. get 6% yearly from your bank?

Want super safe, just use insured individual municple bonds.

polish_aristocrat · 02-25-2006, 07:06 PM

i like such threads, so here's a bump

Beejeebers · 02-25-2006, 07:10 PM

$2 million at 5% will give you $90,000 per year income for the rest of your life...

If you can't live comfortably on that, drop the coke habit.

KRL · 02-25-2006, 07:55 PM

Couple mil if you can live a fairly average lifestyle.

czarina · 02-25-2006, 08:06 PM

the interest depends on how much money you have. With 500K you may get 2% in US. But if you have 1Million you can negotiate that % and get it up to may be 3%.
Now, how much do you need to live comfortably? and, did you calculate medical expenses in that amount?

Hollywood376 · 02-25-2006, 08:12 PM

Quote:

Originally Posted by czarina

the interest depends on how much money you have. With 500K you may get 2% in US. But if you have 1Million you can negotiate that % and get it up to may be 3%.
Now, how much do you need to live comfortably? and, did you calculate medical expenses in that amount?

forget about 3%. Mutual funds will pay Waaayy better. And long tem investiment, the risk is pretty low if you're smart about where you put the money.

As for comfortable lifestyle, that depends on your definition. 12,000 square foot house or 2000 sq ft? In L.A.(Los Angeles) or LA (Louisiana)?

woj · 02-25-2006, 10:32 PM

Quote:

Originally Posted by czarina

the interest depends on how much money you have. With 500K you may get 2% in US. But if you have 1Million you can negotiate that % and get it up to may be 3%.
Now, how much do you need to live comfortably? and, did you calculate medical expenses in that amount?

2%? it's fairly easy to find 4%+, if you shop around you can buy some bonds or other low risk investements at rates 6-7% So even with only 2 million, you get 120-140k per year, which is more than enough to live quite comfortable life. If you are willing to take on some risk, you can probably achieve similar spending income but with only ~1.5 million.

DWB · 02-25-2006, 10:32 PM

Shit. Go live in a cheap place like Thailand and live like a fucking king for 1/4 of what you would need in the USA or Europe.

mrthumbs · 02-25-2006, 10:37 PM

$1mil for every 10 years you have.

tristan_D · 02-26-2006, 07:36 PM

One Million Dollars!!!

minusonebit · 02-26-2006, 08:53 PM

I'd be worried about living on intrest these days. Banks may go bust. And at todays intrest rates, if you have enough to live on intrest, you have enough to live. Get a checking account.

G-Rotica · 02-26-2006, 08:54 PM

More than I got.

BobG · 02-26-2006, 08:58 PM

You might like this book

slapass · 02-26-2006, 08:59 PM

This is a catch 22. If you make 300k a year and think "wow i am balling." You spend even 100k after tax you would only save 50k. 50k a year savings needs to grow to 3 million for it to spin of 10% revenue to replace your 300k a year. I takes about 20 years of savings to get there. So people making less then a million a year never really get to just live on a beach unless they can live on much less then they are making now.

02-26-2006, 09:02 PM

Quote:

Originally Posted by minusonebit

I'd be worried about living on intrest these days. Banks may go bust. And at todays intrest rates, if you have enough to live on intrest, you have enough to live. Get a checking account.

So you'd suggest taking your savings out of an interest earning account and putting it into a chequing account that earns no interest?

How on earth did you come up with that idea?

Trixxxia · 02-26-2006, 09:11 PM

If you have 10million to play with?
8 million in pretty much guaranteed bonds/government backed investments. at 4% thats $ 320k a year
1 million in a little riskier mutual funds at 6% that's $60k a year
500k in stocks you believe in at 7% growth $35k a year
500k in high risk stocks/investments at 10% on a realistic growth $50k
= $465k a year
Should be a good amount to live on - if you're good with spending on the first few years and let it compound, you should be good for your lifetime I'd think.

*am I being too optimistic with the '%' ?*

PixeLs · 02-26-2006, 09:47 PM

It should be enough for me to buy a small island, a yacht and build my own island resort..

pornguy · 02-26-2006, 09:51 PM

With usually anything more than 1 mill, you can get higher % of interest from the bank/credit union. And if you are smart, you can live off the interest. The problem is that most people save a million or so and think that they are truly rich, when they are not.

$5 submissions · 02-26-2006, 10:09 PM

Quote:

Originally Posted by Beejeebers

$2 million at 5% will give you $90,000 per year income for the rest of your life...

If you can't live comfortably on that, drop the coke habit.

Or try the Philippines. $90K a year gets you a nice condo in the nice part of town, eat out at decent restaurants daily, and still have cash left over. Make sure you factor in TAXES though... so that $90K will probably be $60K or less after taxes. Still a decent amount to semi-retire on.

feelgoodteens · 02-26-2006, 10:11 PM

$100,000.

blackfeet · 02-26-2006, 10:35 PM

Quote:

Originally Posted by 8 Characters

If you have $10mil, hire a stock broker and tell him to go nuts.

reed_4 · 02-26-2006, 11:52 PM

Well it will always depend on what kind of life are you gonna be living. Couple of millions would be fine if you can live a fairly average lifestyle.

polish_aristocrat · 10-19-2006, 02:52 PM

Quote:

Originally Posted by polish_aristocrat

i like such threads, so here's a bump

marketsmart · 10-19-2006, 04:20 PM

it all depends on what you are spending...

fuzebox · 10-19-2006, 05:40 PM

Man the figures you guys are throwing around are staggering... And damn it must suck to have to pay taxes

I wouldn't want to retire in the USA... A place like here or a similar country like Panama would be awesome, once you buy a place you can live comfortably on the beach for like $20k/yr... A million in cash with no interest will take care of that for the next 50 years.

hmansfield · 10-19-2006, 05:47 PM

If you take that money and only rely on Bank interest, your kids will be broke. Don't forget the tax man comes every year, and if you are not generating income, you can litterally get taxed, broke!

hmansfield · 10-19-2006, 05:49 PM

You can out $100,000 in a REIT and live on that, about 6-12% a month. But its high risk. If there is a default, you end uo with property you don't want, or an unfinished constructuion project.

squishypimp · 10-19-2006, 06:26 PM

ill never retire, ill be working til the day i die

02-25-2006, 04:26 PM	#1
olivier69 Registered User Join Date: Mar 2005 Location: antarctica Posts: 52	How much money does it take to retire wealthy and live of intrest? Compound intrest etc, anyone did any calculations yet?

02-25-2006, 04:33 PM	#3
After Shock Media It's coming look busy Join Date: Mar 2001 Location: "Ph'nglui mglw'nafh Cthulhu R'lyeh wgah'nagl fhtagn". Posts: 35,299	Tell us a figure you want/need per year and we can give you the figure you need to have that in interest each year. Otherwise it would depend on a great deal of variables. Plan on having everything paid off, mortgage etc. Plan on not getting sick ever? Plan on living in one location (current, etc)? Wanting to not work at all again? Playing keep up with the jones'es or ok with having just what you need? Going to be putting kids through school? and the list can go on. __________________ [email protected] ICQ:135982156 AIM: Aftershockmed1a MSN: [email protected]

02-25-2006, 05:09 PM	#4
olivier69 Registered User Join Date: Mar 2005 Location: antarctica Posts: 52	Just an amount to live VERY comfortably and never have to worry again. How much would you need - 10 million USD? Last edited by olivier69; 02-25-2006 at 05:11 PM..

02-25-2006, 07:06 PM	#11
polish_aristocrat Too lazy to set a custom title Join Date: Jul 2002 Posts: 40,377	i like such threads, so here's a bump __________________ I don't use ICQ anymore.

02-25-2006, 07:10 PM	#12
Beejeebers Confirmed User Join Date: Oct 2004 Posts: 290	$2 million at 5% will give you $90,000 per year income for the rest of your life... If you can't live comfortably on that, drop the coke habit. __________________

02-25-2006, 04:28 PM	#2
The Heron Confirmed User Industry Role: Join Date: Apr 2001 Location: Michigan Posts: 4,489	Well that'd depend on a number of variables, not the least of which is what your level of spending will be.

02-25-2006, 05:11 PM	#6
olivier69 Registered User Join Date: Mar 2005 Location: antarctica Posts: 52	Ok and how would you make sure of that.. get 6% yearly from your bank?

02-25-2006, 05:12 PM	#7
ChefJeff Confirmed User Join Date: Apr 2003 Location: Arizona Posts: 1,499	With 8 million invested in low risk mutual funds etc... you could live off of 500 grand per year for 30 yrs. Just a ballpark guess

02-25-2006, 05:12 PM	#8
8 Characters So Fucking Banned Join Date: Jan 2005 Location: This month's character: Dirty Franck Posts: 2,336	If you have $10mil, hire a stock broker and tell him to go nuts.

02-25-2006, 07:55 PM	#13
KRL Entrepreneur Join Date: Oct 2002 Location: USA Posts: 31,429	Couple mil if you can live a fairly average lifestyle. __________________ If you would like to develop your domains, you can lease inexpensive foreign labor from the leaders in the field at iWebmasters.com TO LOWER YOUR COSTS AND INCREASE YOUR PRODUCTION! * * * * * * * * * * * * Domains Adult News KRL's Newsletter Biz Tips Just Listed Domains

02-25-2006, 08:06 PM	#14
czarina Webmaster Extraordinaire Industry Role: Join Date: Jul 2002 Location: A beautiful beach... Posts: 10,748	the interest depends on how much money you have. With 500K you may get 2% in US. But if you have 1Million you can negotiate that % and get it up to may be 3%. Now, how much do you need to live comfortably? and, did you calculate medical expenses in that amount?

02-25-2006, 10:32 PM	#17
DWB Registered User Industry Role: Join Date: Jul 2003 Location: Encrypted. Access denied. Posts: 31,779	Shit. Go live in a cheap place like Thailand and live like a fucking king for 1/4 of what you would need in the USA or Europe.

02-25-2006, 10:37 PM	#18
mrthumbs salad tossing sig guy Join Date: Apr 2002 Location: mrthumbs*gmail.com Posts: 11,702	$1mil for every 10 years you have.

02-26-2006, 07:36 PM	#19
tristan_D Confirmed User Join Date: Jul 2005 Posts: 7,865	One Million Dollars!!! __________________ Increase your sales. Up to $4 per click.

02-26-2006, 08:53 PM	#20
minusonebit So Fucking Banned Join Date: Feb 2006 Location: [email protected] Posts: 7,391	I'd be worried about living on intrest these days. Banks may go bust. And at todays intrest rates, if you have enough to live on intrest, you have enough to live. Get a checking account.

02-26-2006, 08:54 PM	#21
G-Rotica Confirmed User Industry Role: Join Date: Aug 2005 Location: Austin, TX Posts: 4,258	More than I got. __________________

02-26-2006, 08:58 PM	#22
BobG Confirmed User Join Date: Nov 2003 Location: San Diego Posts: 4,274	You might like this book

02-26-2006, 08:59 PM	#23
slapass Too lazy to set a custom title Join Date: Nov 2002 Location: Earth Posts: 14,625	This is a catch 22. If you make 300k a year and think "wow i am balling." You spend even 100k after tax you would only save 50k. 50k a year savings needs to grow to 3 million for it to spin of 10% revenue to replace your 300k a year. I takes about 20 years of savings to get there. So people making less then a million a year never really get to just live on a beach unless they can live on much less then they are making now.

02-26-2006, 09:11 PM	#25
Trixxxia Confirmed User Industry Role: Join Date: Aug 2004 Location: Montreal, Canada Posts: 5,600	If you have 10million to play with? 8 million in pretty much guaranteed bonds/government backed investments. at 4% thats $ 320k a year 1 million in a little riskier mutual funds at 6% that's $60k a year 500k in stocks you believe in at 7% growth $35k a year 500k in high risk stocks/investments at 10% on a realistic growth $50k = $465k a year Should be a good amount to live on - if you're good with spending on the first few years and let it compound, you should be good for your lifetime I'd think. am I being too optimistic with the '%' ?

02-26-2006, 09:47 PM	#26
PixeLs Too lazy to set a custom title Join Date: Jul 2005 Posts: 11,922	It should be enough for me to buy a small island, a yacht and build my own island resort.. __________________ Make money on any traffic. Bi-weekly payments with no hold.

02-26-2006, 09:51 PM	#27
pornguy Too lazy to set a custom title Industry Role: Join Date: Mar 2003 Location: Homeless Posts: 62,911	With usually anything more than 1 mill, you can get higher % of interest from the bank/credit union. And if you are smart, you can live off the interest. The problem is that most people save a million or so and think that they are truly rich, when they are not. __________________ PornGuy skype me pornguy_epic AmateurDough The Hottes Shemales online! TChicks.com \| Angeles Cid \| Mariana Cordoba \| MAILERS WELCOME!

02-26-2006, 10:11 PM	#29
feelgoodteens Registered User Join Date: Feb 2006 Posts: 38	$100,000.

02-26-2006, 11:52 PM	#31
reed_4 Confirmed User Join Date: Jul 2005 Posts: 9,640	Well it will always depend on what kind of life are you gonna be living. Couple of millions would be fine if you can live a fairly average lifestyle. __________________

10-19-2006, 04:20 PM	#33
marketsmart HOMICIDAL TROLL KILLER Industry Role: Join Date: Dec 2004 Location: Sunnybrook Institution for the Criminally Insane Posts: 20,419	it all depends on what you are spending...

10-19-2006, 05:40 PM	#34
fuzebox making it rain Industry Role: Join Date: Oct 2003 Location: seattle Posts: 22,192	Man the figures you guys are throwing around are staggering... And damn it must suck to have to pay taxes I wouldn't want to retire in the USA... A place like here or a similar country like Panama would be awesome, once you buy a place you can live comfortably on the beach for like $20k/yr... A million in cash with no interest will take care of that for the next 50 years.

10-19-2006, 05:47 PM	#35
hmansfield Registered User Join Date: Oct 2006 Posts: 70	If you take that money and only rely on Bank interest, your kids will be broke. Don't forget the tax man comes every year, and if you are not generating income, you can litterally get taxed, broke!

10-19-2006, 05:49 PM	#36
hmansfield Registered User Join Date: Oct 2006 Posts: 70	You can out $100,000 in a REIT and live on that, about 6-12% a month. But its high risk. If there is a default, you end uo with property you don't want, or an unfinished constructuion project.

10-19-2006, 06:26 PM	#37
squishypimp PostMaster General Join Date: Aug 2006 Posts: 10,781	ill never retire, ill be working til the day i die __________________ Signature For Sale