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View Poll Results: Magic 8ball says
0-99,999
1
6.25%
100,000-249,999
0
0%
250,000-499,999
1
6.25%
500,000-999,999
1
6.25%
1,000,000-infinitum
13
81.25%
Voters: 16. You may not vote on this poll

What's your magic number?

 
Old 02-15-2019, 02:57 AM
  #1  
-Intl Steve Krew
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Default What's your magic number?

For working to become an option, not a necessity?

Money in the bank, investment accounts, living off interest.

MMM did it with 400k and drawing 4% annually iirc.
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Old 02-15-2019, 02:59 AM
  #2  
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Default Re: What's your magic number?

$2M
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Old 02-15-2019, 03:05 AM
  #3  
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Default Re: What's your magic number?

I can make 250,000 work for me for the rest of my life.
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Old 02-15-2019, 03:16 AM
  #4  
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Default Re: What's your magic number?

If I stopped working right now, it would just free up time to work on my house, then I’d probably sell it and start on a new one, then boom I’m just working again flipping houses, but now I need to buy my own health insurance.
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Old 02-15-2019, 03:20 AM
  #5  
020
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Default Re: What's your magic number?

80k living well. One box of Cheez-it’s and one pack of Ramen can sustain a person. That’s about 60/month, $720/year. Round up to $800 for b-12. Clothes, $200 at goodwill or free.

You up may be thinking “what about shelter”? No person who has a tent is homeless I say, and so a tent I will have.

Given the Trinity studies 4% SWR, 80k leaves me three times my needed annual income, and thus quite wealthy before even visiting shelters.
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Old 02-15-2019, 03:36 AM
  #6  
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Default Re: What's your magic number?

I don't have a number, for me the #1 target was getting rid of debt. It changes how you think about your life and the money you need to survive.
I could honestly retire now and not worry at all about money, I need very little monthly, the only big bill I have is a rip off $350 a month in health insurance that covers squat.
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Old 02-15-2019, 03:36 AM
  #7  
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Default Re: What's your magic number?

so trolling.
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Old 02-15-2019, 03:42 AM
  #8  
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Default Re: What's your magic number?

Not much. I'm trying to go the other route and use my savings (not 401k) to acquire assets to continue to generate passive income. Goal is to continue to bring income in while not working.
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Old 02-15-2019, 04:00 AM
  #9  
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Default Re: What's your magic number?

$3.825M and I'd quit work today.
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Old 02-15-2019, 04:45 AM
  #10  
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Default Re: What's your magic number?

Should have 1m by the end of the year when I sell my apt building that took 2 years out of my life to renovate, and it’s not nearly enough to stop working.

It’s enough for my wife to stop working. All it’s going to be for is to find another project. Cant live off that with a family.

Investing is infact work
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Old 02-15-2019, 06:30 AM
  #11  
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Default Re: What's your magic number?

I’m way to young for any of those low numbers to work plus I enjoy working most days so I much rather put in some work and have nice things. I will say I’ve cut back a lot already which is nice. Instead of 50-60 hour work weeks I’m down to like 25-30 and love it. Sometimes get bored though
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Old 02-15-2019, 06:54 AM
  #12  
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Default Re: What's your magic number?

Originally Posted by 5SpdH22 View Post
$2M
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Old 02-15-2019, 07:18 AM
  #13  
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Default Re: What's your magic number?

I spent well over 100K last year and I live in a shitty apartment.

I think I need like 10 million or so.
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Old 02-15-2019, 08:04 AM
  #14  
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Default Re: What's your magic number?

$4-5M and my wife and I would stop working.
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Old 02-15-2019, 08:09 AM
  #15  
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Default Re: What's your magic number?

Originally Posted by shamoo View Post
$4-5M and my wife and I would stop working.
This. Half of that being liquid.
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Old 02-15-2019, 08:23 AM
  #16  
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Default Re: What's your magic number?

*edit NVM

$4mil liquid, and I'd expat to South America.
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Old 02-15-2019, 08:25 AM
  #17  
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Default Re: What's your magic number?

I need a lot of money, I'm mexican, I'm going to need a lot to take care of all the family members. :/
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Old 02-15-2019, 08:28 AM
  #18  
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Default Re: What's your magic number?

Originally Posted by .Manny. View Post
I need a lot of money, I'm mexican, I'm going to need a lot to take care of all the family members. :/
I change my answer. Gonna take that $4-5M and contribute to the wall.
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Old 02-15-2019, 08:31 AM
  #19  
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Default Re: What's your magic number?

Originally Posted by .Manny. View Post
I need a lot of money, I'm mexican, I'm going to need a lot to take care of all the family members. :/
Originally Posted by shamoo View Post
I change my answer. Gonna take that $4-5M and contribute to the wall.
Ohh no he didn't!
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Old 02-15-2019, 08:34 AM
  #20  
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Default Re: What's your magic number?

I imagine I'd be fine with like $300,000.

A small place in a developing country is my goal for when I retire anyway.

That said no desire to retire just yet, I haven't really even started doing anything yet.
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Old 02-15-2019, 08:36 AM
  #21  
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Default Re: What's your magic number?

300k? What the **** are you going to be doing everyday, walk to the park and play chess while living on water and free crackers? I want to enjoy retirement not live like a poor person in a 3rd world country who would kill for a loaf of bread.
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Old 02-15-2019, 08:39 AM
  #22  
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Default Re: What's your magic number?

Originally Posted by .Grimace View Post
300k? What the **** are you going to be doing everyday, walk to the park and play chess while living on water and free crackers? I want to enjoy retirement not live like a poor person in a 3rd world country who would kill for a loaf of bread.
I don't want to stop working right now.

When I do, I want to hang out in a large city in a developing country. Walk a lot, read a lot, eat & have tea, just take it easy & keep my mind active.

Ideally never use a computer or cell phone again.
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Old 02-15-2019, 08:41 AM
  #23  
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Default Re: What's your magic number?

Originally Posted by moopmoop View Post
Ideally never use a computer or cell phone again.
Oh I like this. Add that to my retire list
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Old 02-15-2019, 08:44 AM
  #24  
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Default Re: What's your magic number?

1 mil was my magic #. I'd have to say 2 mil now.
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Old 02-15-2019, 08:50 AM
  #25  
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Default Re: What's your magic number?

I won't be content until I have at least 400 acres. I'm land hungry. Once I get that, all I'll have to worry about is bringing in enough to cover property taxes.
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