The position of "F" you

[a social dsease]

Originally posted by Sugarphreak

One thing is you are not accounting for inflation.... 50K of passive income might be ok right now, but in 30 Years? Even 10 years from now inflation will hammer it down by quite a bit.

5% is assumed return AFTER inflation. You don't think that's possible? Evidence?

If historicals can be considered something to go by, you might like this. It's a tool that calculates the average S&P return for a period (that you can specify), with and without inflation. Looks like 5% is actually pretty conservative, over the last 20 years its closer to 9% (after inflation). Maybe I don't even need a full mill!

http://www.moneychimp.com/features/market_cagr.htm

[killramos]

25 Million would just about do it for me.

Any less and i wouldn't feel comfortable spending on the cars I want, when I want.

I would likely die with 23 in the bank that way. But i wouldn't worry about money at all with that in the bank.

[blownz]

I think the people giving numbers under $2M area way off unless they are already 60.

The problem with say $1M is that maybe you can live fine off that now, but if you are 30 now, by the time you are 60 that $1M will be the equivalent of say only $300K because of inflation and I doubt many could live off that.

I am under 40 and think I would need at least $5M to completely quit today. But it would take a lot less to get me to just say f-it to my current job and find something with less stress and less pay.

[ercchry]

Originally posted by blownz
But it would take a lot less to get me to just say f-it to my current job and find something with less stress and less pay.

this would be the entire point of the thread... or it would be just another retirement thread

[killramos]

Originally posted by blownz
I think the people giving numbers under $2M area way off unless they are already 60.

The problem with say $1M is that maybe you can live fine off that now, but if you are 30 now, by the time you are 60 that $1M will be the equivalent of say only $300K because of inflation and I doubt many could live off that.

I am under 40 and think I would need at least $5M to completely quit today. But it would take a lot less to get me to just say f-it to my current job and find something with less stress and less pay.

Thought it depends 100% on what you consider to be an ideal lifestyle.

Leave Calgary and live like a bum on Vancouver island or something with good weather you would be surprised what you could do with a million or 2.

[Sugarphreak]

...

[M.alex]

Talk about low standard in this thread?

F*ck you money starts at about $100M, not $1M.

I wouldn't even consider quitting a day job until at least $5M

[JRSC00LUDE]

I don't think I'd every make enough to quit working, there was also a time I didn't think that to be the case....

I'd just work in different ways/on different things. Work is fun when you like what you do, just keep finding that.

[Tik-Tok]

Oy, people are completely missing the point of the thread.

"Fuck you money" (per the video) isn't enough money where you stop working, it's enough money that you can quit and not give a shit, because you have enough to keep you going to the next job.

[max_boost]

Lol ppl can't read or don't bother.

[J.M.]

fuck her right in the pussy

$250k for me, would probably go back to school

[C_Dave45]

Don't understand the question at all then. Goodman talks about being set "for the rest of your life" and Max asks how much to just say "fuck you".
I took both of those to mean how much to walk away from everything for the rest of your life.

Just from one job to another? He'll I've done it three times with nothing more than whatever was in my pocket.
Just what are we talking about then?
FUCK you.

[max_boost]

I think you answered it as intended Dave. Your fuck you position amount is 1mill, give or take of course. You can chill, relax, camp all you want and take on projects on your terms. Ya follow maddog? Some builder has always pissed you off but you needed them in the past but now with a mill in the bank, you can say FUCK YOU. Lol

[ExtraSlow]

No amount of money would set me up to "never work another day in my life", because that would drive me insane. So really, $5m, or $100m, it really wouldn't make that much difference, I'd still be working, possibly full-time.

I probably wouldn't be buying a Ferarri either way. Although maybe I'd buy a newer truck . . .

[you&me]

Originally posted by C_Dave45
Don't understand the question at all then. Goodman talks about being set "for the rest of your life" and Max asks how much to just say "fuck you".
I took both of those to mean how much to walk away from everything for the rest of your life.

Just from one job to another? He'll I've done it three times with nothing more than whatever was in my pocket.
Just what are we talking about then?
FUCK you.

The intention isn't to gauge how much it would take to walk away from everything, but to have an amount that allows you to basically walk away from whatever you want.

It's the amount you'd need to make sure you never had to do anything you didn't want to do for the sake of money again.

Edit - Max has it right in his last post... Live and work on your terms...

[JudasJimmy]

net worth of $2.2M @ 50yrs. That's when I would cash out and say F-u. Buy a duplex (complete unit), live in one, rent the other. Put a $1M in the bank @ 2.5%. live off rent/interest @ approx. 50-60k/yr until 60 yrs old. Cash out again. then live on 100k/yr spending the principal. then die.

[Xtrema]

Good scene, good quote. Been setting up to be like that since I left school. While it's not my nature to say Fuck you and leave a job, I'm definitely set up to do that now.

Job no longer pays for essentials. Job pays to ease my mind to blow on non-essentials like vacations and toys. And the social aspect of work life, it's something that I will definitely will miss.

In 2015, $1M beyond primary home is pretty good if you live frugal. The key here remember is to die with nothing, you don't need $ when you are 6 feet under.

[J.M.]

Originally posted by Xtrema
The key here remember is to die with nothing, you don't need $ when you are 6 feet under.

Probably the best thing said so far in this thread.

[timdog]

^ assuming neither of these people have kids

[ExtraSlow]

Or that the kids are adults when you die. No point leaving an inheritance to adult children.