so much talk about money tonight
 

so how much is enough? how much (do you think) is enough to retire on?

for simplicity, let's say you live in the US/Canada, and we are talking US, money in the bank net retained. if not, please qualify your response.

yes, i'm kind of drunk :glugglug

depends on ur standard of living

for me id say 8 figures

that rules out the possibility of having 2 much in 1 place and getting wiped out due to unforseen circumstances

8 figures and i would never work another fucking day in my life

:thumbsup

Armed Squirrel will be retiring when he's wronged the massive injustice of his ex-partner using him as a scape goat in an undercover FBI scandal.

Until then, he's available for adult work, but refuses to show more than 2" of tail.

And it must be tastefull.

at my age at least few million... if i was 60 maybe half a million


going for 5k tonight?

why is everyone always so hung up on retirement? What the fuck are you gonna do if you retire anyway? You'll be bored to death in a month and begging to get back into it. If you're looking to retire so you can be somewhere you wanna be, you're chasing the impossible.... just GO where you wanna be already.... you don't need to 'retire' to do it....

that word.... it leaves a nasty taste in my mouth for some reason.....

'retirement'..... sounds like you're gonna put yourself up on a dusty ass shelf for the rest of your life and sit around wondering why the fuck you 'retired'.

the more u make the more U want to make...competition and desire makes us want to top our last amazing feat

it depends on your age, how long you expect to live, and what type of lifestyle you expect to lead.
say you're 30, you plan on living to 60 and you'll be spending an average of 75k US a year. You'd need $2.25 million.
Of course, if you invest that money, or even put it in a savings account, it'll accumulate. In one year, at a conservative interest rate of 2% per annum, $2m will accumulate 40k in interest.

by retired, i mean two things:

(1) exiting this particular business (adult internet)
(2) being able to do what you will, regardless of revenue. for example: making shitty documentaries for the rest of your life, that you enjoy doing, but don't necessarily making any money producing.

in other words, money no longer having a bearing on anything you choose to do in your life.

I don't think I'll retire very soon either, totally agree with Amp. What the fuck are you gonna do all day? Drink and get laid on your yacht? Yeah that's nice the first few months but you're soon gonna be pretty sick of it. I'd keep working and just take more time off in between. Ya know, travel around & get laid on yachts while getting drunk. As long as you don't do it every day of the year it's still fun :winkwink:

or making shitty Maxim magazine ripoffs, or shitty video game companies, etc

:1orglaugh

I worked this exact scenario out with my Merrill Lynch advisor and we came up with a figure of 8M-12M USD. This number is based on an estimated cost of living at the time of retirement and takes into account unsheltered tax liailities.

Not true for me. All I want to do is relax...

I mean, I would love to be retired. Maybe go back to university learn some more history, get a tan, get back in shape, read some more, learn a language, learn more about sailing, take some cooking lessons, etc etc etc.

I guess to do all that would require a shitload of $$ though. I dont know what the magic ## are though. I know it is more then what I have and so I havent taken the time to really think about it - I am just trying to make more :)

At least 3million USD. That's what I would figure.

You'll get sick of that too. The human mind needs goal attainment, competition, achievements... What you're talking about is hobbies. Sure that's cool for some time, but those too get boring after a while...

By that definition, I am already retired...

I'd need at least, AT LEAST 25-30 million before I'm satisfied

How else can you afford a nice big house, a couple of vacation adresses abroad, at least 5 expensive cars, a yacht and the ability to blow money away anytime you want :D

Well down here in Australia the last figure I heard was that if you wanted a guaranteed 40k a year return on your investments you needed 4 million invested

If you invested $US4million down here you could expect a return of around $A70k per annum

I would have to say, suppose you own absolutely nothing, $9M US before taxes. That leaves you with ~$5M US. Enough to live good for the rest of your life and buy a couple houses/cars/whatever.

okay.... but.... in regards to

1. No one is forcing anyone to be in this business.... anyone can leave, and at any time. Doesn't taste good anymore? Do something else. I've done it a hundred times. I've had more different 'careers' than most people have their whole lives.

2. Money ALWAYS has some bearing on what you choose to do with the rest of your life.... I don't care how much you got in the banks.... money is ALWAYS a factor. I'm sure even Gates considers the almighty dollar, at some level, (probably not at the average persons level, but....) in regard to things he wants to do. If you spend and spend and spend without a thought in your head about what you're doing... you'll soon end up broke and swapping sob stories with MC Hammer and the rest of the I-Used-To-Be-A-Millionaire-Club.

i want to travel the entire world. then drive across north america in my convertible. go back to school to do a masters (this has already been planned). after that, it will be about managing investments (a full time job) and either going into a Phd, or starting another business, but without the the same profit focus that i currently have.

You need at least $10 Mil to be totally set and comfortable. You can't live "Lifestyles of the Rich and Famous" on that number, but certainly that will provide for a relatively luxurious lifestyle of your choice in your later years.

The older you get though I find material stuff isn't as exciting as it used to be. Your values change as well. You don't go after the $ per say, its more just to enjoy the game itself. The money just naturally happens if you do good business.

I used to be totally into luxury cars, now I love SUV's and not having people staring at me all the time like you get when you drive fancy wheels. It gets old real fast. Got burned out on the big house thing too. You never will use all the extra rooms. Its so funny. We built a library in our California house and the only rooms we used all the time were the bedroom, kitchen and family room, just like a regular house. Hated the ridiculous overhead and workers charging extra cause they knew you had bucks.

$3mil USD will give you $100k a year for 30 years. At a 5% return rate on your $3mil usd, you'd make $150k a year and would never have to touch your initial $3mil.

do you think you'll really need more than $150k USD a year? that's at least $225k CDN.

Don't you think that you've already reached that point and just haven't labeled it as such ?

who said anything about being forced into this business? i am talking about the amount of capital you feel is enough in order to leave this business, and move on to (2).

I don't agree with you on (2). i want to do all kinds of different things, most of which have nothing to do with money. the thing is, once you have enough of it, it's possible to no longer be it's slave.

of course, this doesn't apply to everyone.

Don't forget that interest is taxable in most cases.

I suppose this 3Mil would be after you bought a bunch of physical assets right? Have you seen the Vancouver real-estate prices lately ? :(

i agree.

That's a return rate of 1%. If you put your money in a checking account, you'll get a better rate than that.
If you invest your money, even if you only buy GICs or T-bills, you'll get at least 3-4% return (120k-160k usd)

indeed

so you are saying that the only way to have a goal, is to make money?

prime rate is too low to retire now :(
I'd say you have 5 more years to work yet. :)

Like I said, it all depends on the type of lifestyle you want to lead. If you want to buy houses and cars galore, of course you'll need a lot more.

$150k USD is more than enough (in canada) for a modest sized house, 2-3 cars in the garage, and a full time maid. perhaps a cook too.

all about lifestyle man :glugglug

you guys crack me up..... you got this shit down to fuckin' formula.... lol



As you grow some years on you, all this shit will fade a little. It just isn't all that damn important.

It's funny you bring this up. While recently sorting through some paperwork from my childhood, I found a certificate of deposit from 1980 with a rate of 14.5%. Of course, inflation was rampid then.

You all aren't thinking about fuckups. Its harder to keep your millions than it is to make them. I've been married and divorced twice and spouses are one of the best ways to have your wealth get all fucked up. After that its bad investments. That's why you need 10 mil to cover your fuckups.

I think that if you are doing things purely for money, you are wasting your life. I do what I like most, and don't let potential revenue guide me. Makes life a whole lot better, in my opinion.
Money is just a tool, but when you don't need a tool, there's little point in acquiring it.

I just don't want to worry about paying the bills and bringing the food to the table according to the lifestyle I want to live.

check out the book
"the millionaire next door"

I'm not rich..... and I haven't worried about that stuff since I was 18...

5 or 6 billion would do with about 100 mil a year income.