How much time/money do you need to retire?
 

Just curious, you porn freaks... Are you just dicking around in this business and making enough to scrape by but don't think you'll make enough on which to retire (or maybe you don't think about it)? If so, this question isn't really for you, but go ahead and respond anyway if you want. This is for the professionals who make real money and expect to have enough to quit working within the foreseeable future. The question is, do you have a number in mind that will be enough? How much is it? How long do you expect to work until you reach it? Or are you already there but still working? If so, is it because you like the business, or because you'd be bored doing nothing, or what?

I ask merely for information. I thought about making a poll out of this, but there are too many possible answers... I'd rather read what you say.

How 'bout it, porn freaks?

could 2.1 million in revenues be wrong?

You mean 2.1 mil in the bank? I'd say that's a little on the low side, but not too much. Or are you talking YEARLY revenues...?

Of course it can be wrong, MORE DAMNIT

lol

in all actuality, Im 2x that ammount in debt

4.2 mil in debt? What? Then it'll take you twice as long!

Come on, you freaks! How much, how long?

And by the way, I declare this thread to be a no-pissing-content-zone. In other words, don't inflate your numbers.. I want to know how much, how long, not how much you have or make now.

This is a scientific poll, damn it. The results must be significant. If P is greater than one, I'll freak out. I'll just freak out.

So more posts, please. Tell the truth, now.

You freaks.

a little condo in Florida for the winters and a little condo up north for the summers and a little F-you money.

That's all I'm shooting for, then I can give the world :thefinger

7 years

So, Marcus, how much do you expect that'll cost you altogether? Like a mil or so?

4.3 million from interest by this post

why retire, when you can run the show?

Socks, you lyin' sack of shit.

Why run the show when you can retire?

I forgot to ask: if you plan to have a family, or do have one, how does that affect your numbers?

Marcus - where do you get the saying "F-you money" from? It's soo familiar but I cant place where I have heard it before.

Basically, due to inflation and shit, who knows what 2 million today would be worth in the future?

Plan for retirement? shit, I am planning for next month. I just figure that if I can make enough to pay off all my bills and buy a house or two, I should be set no matter what happens.

Already well on my way and happy about it....

yeah, I'll be 35 by then and I dont know anyone who is retired at 35, so I'd be happy. I don't have any expensive habits like gambling or drugs. Jerking off is free and I'm not into nice cars.

I'll never retire though, I'll just work less and sleep more.

I am so glad people like you make it much easier for people like me

I only make 5 dollars a year according to the IRS...

funny you said that...i was talking to my father a couple of days ago, and we were trying to figure out how much I have costed him since I was born. I recently graduated college, so we were trying to figure it out. Yearly expenses for food, insurance, clothes, leasure activities, and everything else up to this point. We were figuring around $30,000 a year. College cost $100,000. So we were figuring I must have cost him close to a million dollars over the last 22 years of my life. I also have a sister. So I would say if you have kids...they are gonna be a major part of where your money goes.


If i was going to retire I would honestly say $10 mil plus. My whole theory is that if you can make $5 million a year, why retire when you know you can make that the next year as well.... I would continue with any business that would bring in money like that....why retire?

Rosyastrid, I figure I'd need another mil per child, so our rough figures agree. Interesting.

About your question, I'd want to retire because I don't want to work anymore! I don't like porn; I only care about the money. I mean, once you have, say, ten million bucks, what do you need 15 million for? (These numbers are higher than my own estimate anyway.) But isn't the 5 mil/year figure academic anyway? I don't mean to pry, but you don't make that much, do you? (Of course, you are protected by Amendment XXXVII from answering that.)

PureMeds, your last post echoes my own sentiments. Unless you are seriously fixed on a goal in this (or pretty much any) business, you're not gonna make it. L0stMind, maybe you will, but the mention of planning for next month followed immediately by "a house or two" sounds like wishful thinking to me.

You know what my granny said... "Shit in one hand, wish in the other. See which hand gets filled up first."

Yuk, yuk, yuk.

$2 billion - Liquid assets only.

think outside the box

$2 billion - OK, Tony Montana. I will try to never underestimate the other guy's greed! Whoo!

Hey, PureMeds, a side question -- I assume HGH is legal now. Are you pretty sure it'll stay legal? You have other meds products?

Ill quote from another thread: as I hope it sheds some light,

HGH is a dangerous, but hgh antagonists are safe and the most effective therapy available at the moment,

shit, if i made $5 million a year, i wouldnt be living in Jersey, I'd be out in the islands chilling...but no i dont make anything close to 10% of that.


Look at things like this. if you had $10 million saved, you would realize there are things in your grasp that you want. Lets say a $2 home, a $2 vacation home, a couple of cars...boom, your down to $5 million. Now if you could work another year you are back up to $10 million. Now you can afford other things so you sell one house, and move up to a $4 million dollar house. And now your wife wants a private plane, so you just spent another $5 million on a house and plane. But knowing you can work one more year and make another $5 million....when does this stop? When you can afford things, you want them because you worked for them and deserve them. Why retire at 25 with $5 million, when you can work till 30 and retire with $30 million. But knowing most people wont retire til their 50, why not continue to work until 40 and save another $50 million? Human nature is to strive for more. It is human nature to be greedy and want more. When is enough enough?

People are going to say, no i wouldnt move into a bigger house, and so on, then why are you continuing to work? If you work and you are rewarded by a nice paycheck, shouldnt you buy yourself something to reward yourself for working. If you say no, does that mean you are already satisfied with the amount of money you have? its a good question, and i dont feel there is an answer to it.

you need to realize that people (no matter how rich) dont save ten million, I could offer you some complex explaination of this,but id be wasting my time

No, I don't know the answer either, so I started this thread. I don't think I'd keep selling my time (which is all we have, and all we have to sell) just to get more stuff, though, after I have what I want. My time is more valuable to me than very-high-end things and lifestyle. I only have so much of it... If I had my twenties to live over again, would I spend it doing this, even making lots of money? I really don't know. But if I had ten years to put in without getting older, yes, I would put it in to have the big egg.

I figure three million for me. Maybe four. More than that, honestly, isn't worth my time, literally.

Still, I'd like to hear more from everyone. I appreciate your answers so far.

PureMeds: you mean people who have ten million don't get it by saving it up, right? I know. And having a million bucks doesn't make you a millionaire. I'm just really talking about how much you need to be worth, liquid, to quit working at the cash pump.

You don't need alot to retire really.

2 million USD will provide you with a good life, just make sure that you put 25% on a savings account or more and have an asset management company deal with the 75%.

ControlThy:

Yes, that's why I said $3 million, because of the extra million I might need if I ever decided to have a kid. A competent money manager should keep you quite comfortable with what's left over after you buy your estate, I think.

It's a very simple formula:

The more you make, the more you spend. When you can honestly tell yourself that you're happy with what you have, where you're at, and what you're doing, that's when it's enough. It doesn't have to be at some specific age and it doesn't necessarily mean you need to stop, but you don't have to beat yourself up over it every minute of the day anymore either. But until you reach that point... really reach that point and you're not simply saying it to hear yourself talk... that's when you can start living instead of existing.

Retirement is nothing more than an over used word to describe that point in life when we are *supposed* to have our shit together so we can sip umbrella drinks with complete disregard for the world around us, when in reality, it embodies all that we endlessly strive and struggle to attain in order to one-up the Jones'.

I choose not to live that way anymore. It sucks. And really, who fucking cares whos yacht has the most refrigerators on board.

Stop defining your life in dollar signs and enjoy some of it while you still can.

People are so hung up on shit it makes me shake my head in wonder.

Ok, and I am drunk at the moment, But lets say you buy an apartment building for 500k, and your mortgate ammounts to 2500 a month. Well average joe schmo would like to make money on this property correct? wrong.... you would rather set up a real estate investment company that operates at margin, meaning it makes little to no money on whatever properties it owns. Why? because then it does not pay *any* taxes on these investments, yet it builds equity which the corp can borrow against without paying any real income tax on the properties and therefore releiving the owner of any real income tax. Any generated income from the properties can be used to purchase autos, homes, and any other imagineable expense as a write off to the corporation, up to a certian ammount, without paying taxes.

For me, it's not true that I spend more as I make more. I'm not a miser, but I don't waste money on stupid shit. And I'm not talking about umbrella drinks and yachts. Not what I want at all. I simply don't want to ever think about money again. Just thinking about it, even if you have plenty, wastes your time, which (I'll say it again) is all you have.

Fuck the Jones'. Amp, I have a friend who lives that way, and he's rich and miserable. And not "retired." Why? Because he needs cash to support his ridiculously extravagent lifestyle. So, my point here is that it's not an either/or with retirement. It's not about anyone else but yourself, as I think you mean... But my asking for a dollar figure on it isn't defining my life in dollar signs at all. I suppose I should have asked first about what you all want and how much it will cost to get it, but that's even harder to answer. It's not a very simple formula at all.

What you just described is the ultimate catch 22.

Do you honestly believe that the MORE money you have, the LESS you will think about it?

thinking about it more is a good thing, a lot of people benefit.


off to bed:glugglug

Give me £250k and that's me done - £20k interest a year for life will keep me happy in bikes, beer and birds.

Amp, if you have a certain amount that, if invested well, will supply you with enough to do what you like, and you hand it off to somebody else to manage for you, why would you think about it anymore? I think if you do think about yachts and the Jones', than what you said is dead on, though. But I don't.

Kat: Wow. I admire that! (What to call it -- frugality? asceticism? Those don't fit!)

Well, lets clarify my point.

I have some small debts I acquired thru university education and starting a business and in our first year of operations I decided that taking only a minor salary and re investing the excess $$ into the company was a better plan then just draining the company accounts and so I have some small debts from this (LOC, MC)...

These are relatively minor debts and not a big worry for me.

My business is having an absolutely fantastic year and I expect it to continue. But while I have long term goals for growth, it requires more month to month thinking then year to year thinking.

But enough about the business.. this is about retirement.

Reason why I dont plan for retirement is due to the fact that the world changes too much. Cost of living, value of the money you hold in your hand today is not the same as tomorrow, governments change, people change, my wants and needs change. etc.

So, I rather plan for one month ahead right now. I have lotsa long term goals but I havent planned them out. I definitely havent planned out reitrement, although I dream about having a couple places I own in several countries so I can be old and travel and relax.

But actually plan personally for the long term? hell no. I am 25, who knows when I will honestly want to stop working? How on earth am I supposed to plan out my retirement now, when I am not sure what the hell I want from retirement?

I rather focus on the NOW and make as much $$ as I can and when I am happy with my bank account balance then I will stop. I haven't figured out what that balance will be tho.

Any young people planning for retirement are getting a little ahead of themselves. Unless you were born and knew what you wanted to do or you are a really boring individual, you are most likely gonna change and that could royally fuck up your planning.

Spend less time planning and more time actually doing....

I do a lot. But I am probably a boring guy.

Okay.... let's suppose you decided to retire and you had $10 mil spread out across whatever. You hand it off to someone to manage it for you.

Now.... you're telling me that you're just going to forget ALL about money altogether.

You're not going to consider your purchases...
you're not going to wonder whether it's being managed properly...
you're not going to consider other options of investment that may yield even more money...
you're not going to consider other things you could put some of it to good use... (say college for kids or whatever)

you're telling me that there is some amount that could be made for retirement that you will suddenly not ever have to think about money again.

I'd love to know what that magic number is, because I'm sure even Bill Gates has money on the brain every single day, and chances are high, that none of us will ever see those numbers.

Hey, I went to university for this shit... I was planning on being an accountant, a financial advisor, a stock broker or investment guru and I changed my mind when I hit the "you are too young" barrier.

I know how it feels to be going over all those numbers and thinking - well, if I only put away $1200/month.. for 20 years... and then I have $XX and I can invest that like this and get a return of %X and so on and so on.

Then I realised all the planning in the world isnt gonna help if I dont make the money to be able to put some money away...

Too much planning leads to inaction, inaction usually precedes failure.

Amp is right - very few people will actually ever be satisfied with their income and assets. It's human nature to strive for more.

Look at what happens to everyone when quiet posts his stats - jealousy abounds.

Heh. Ok, I give up. I think I forgot how controversial this question actually is... I hear almost a different answer from every person anyway (not just here, but anywhere). Also, none of you know me, and that makes it harder.

I should have asked a group of non-porn-freaks, I guess. :)

It IS a simple formula bro...

Those (normally) unattainable numbers that everyone struggles to reach and ever beyond are your barrier. Not your income. (unless you're dirt poor of course) You don't need to be filthy stinking rich to be happy or to stop thinking about money.

All you gotta do is find your level of comfort.

Lots of people are perfectly happy making $15k a year, and lots of people are miserable making $200k a year. It's really about your priorities. If you place such a high value on the almighty buck, then that is what you will chase.

Saying that you need $10 mil or $2 mil or $250k or whatever to be happy and comfortable is just ridiculous. Nobody NEEDS $10 million dollars, 30 cars, and a big ass white mansion to be happy.

Here's a little perspective:

I'm 35 years old.
When I retire, (if that's what you wanna call turning a certain age) I will be doing exactly what I did today in exactly the same place.

Why?

Because after 35 years of hell and abuse, I figured out how to be happy. I'm where I wanna be, with someone I wanna be with, and doing something I wanna do when I work as well as when I play. I work hard, and I play hard. And life is a beautiful thing.

Am I rich? Far from it. And I don't need to be. If the day should come when I can no longer do what I do, or it no longer keeps me happy, I'll move on to something else that does.

If your goals and ideals that you've set for yourself are beyond what's reasonable and within your grasp, you will likely be miserable for a very long time while you chase something you'll probably never reach.

It's not really about attaining a certain amount of wealth. It's about what you place value on. If money is your highest priority, then no amount will likely satisfy you. Today the goal is $3 mil. Next year the goal gets bumped to $10 mil. And on and on until your priority changes.

But don't believe that there's some level of cash that's going to bring you peace and harmony one day, because it's not going to happen. You're only kidding yourself.

/peace

AMp

Amp is on the money.

Retirement is a tough thing to view when you're 20, 30, even 40. Most of us fall into that area. My parents are dealing with the struggle of retirement now. My dad retired from his second career about two years ago and putters around. My mom is looking at retiring in the next year or so, but I can tell she's worried about what she's going to do with her life and if they can make it on just their retirement and social security.

As for me. I echo Amp's wise comments..except I currently don't have anyone to share it all with (that's really worthy and appreciative). A few years ago I had several buy out inquirys. One was very lucrative, but I was worried about what I'd do for the rest of my life especially with a non-compete clause in effect. My CPA flipped when I told him I'd turned them all down. His cries were that after taxes and well invested I would of had $400K a year to live on from ROI alone.

C'est la vie

if nothing else, just remember.... while money is important for many many things, it's not the be all end all. This is your LIFE.... not a race to the bank. Cuz when you're dead, it doesn't matter if you got $40 mil or a buck. You're still fuckin' dead, and it's all over.

Do you wanna spend it all chasing some pot of gold hunched over a desk 24/7 hoping you hit the magic number someday? Or are you gonna live it at maximum volume while you're still young enough to enjoy it... :glugglug