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SVTPerformance's Chain of Restaurants
Road Side Pub
How much money do you estimate it taking for you to never have to work again? Think the lottery.
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<blockquote data-quote="ON D BIT" data-source="post: 16217428" data-attributes="member: 10422"><p>The question was if you could retire today how much would you need.</p><p>One response was $2k a week for 50 years. While that equals $104k a year today, it would only be $37k a year in 30 years and $18k a year in 50 years. For me that is not enough to live on.</p><p></p><p>Now if it was $5 million up front and you could live off the interests without touching the principle. That’s entirely different.</p><p></p><p></p><p>Back to your point, I agree they should have lived on less than they make and saved for retirement. But it’s not that easy.</p><p></p><p>In the 80’s $40k a year is a lot, the new mustang GT sells for $10. A lot of adults say/think living on $40k a year with paid for house piece of cake. 20/30 years later that new mustang GT is now $50k their $500k paid for house and $40k in income goes nowhere.</p><p></p><p>My point being trying to live on $100k a year even with a paid for house will be difficult in 30 years.</p></blockquote><p></p>
[QUOTE="ON D BIT, post: 16217428, member: 10422"] The question was if you could retire today how much would you need. One response was $2k a week for 50 years. While that equals $104k a year today, it would only be $37k a year in 30 years and $18k a year in 50 years. For me that is not enough to live on. Now if it was $5 million up front and you could live off the interests without touching the principle. That’s entirely different. Back to your point, I agree they should have lived on less than they make and saved for retirement. But it’s not that easy. In the 80’s $40k a year is a lot, the new mustang GT sells for $10. A lot of adults say/think living on $40k a year with paid for house piece of cake. 20/30 years later that new mustang GT is now $50k their $500k paid for house and $40k in income goes nowhere. My point being trying to live on $100k a year even with a paid for house will be difficult in 30 years. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
How much money do you estimate it taking for you to never have to work again? Think the lottery.
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