I need 10 million
>>1224048
I need atleast 50k a month.
That should be enough to invest some every month and still live good.
>>1224048
500k initial with a monthly return of about 5k
>>1224048
200k a year.
Will invest and spend 80-100k a year until i am a $1 million dollar chump
>>1224048
100K after tax/year to live comfy
2M/yr after tax to live lavish
200 k, and I'm set for life
>70 k apartment
>5 k car
>Invest 75 k
>Put 50 k in a bank
ITT: people who have never had a significant amount of money.
Budgeting is never that simple once you start balling that hard. You begin upwardly adjusting your lifestyle. This whole "maintain your means" and pocket the rest is just a meme. No one does that.
Anyways, is this before or after taxes? You realize you'll need to earn 400k to even get 200k for yourself?
Realistic minimum, £100k
What I aim for £1m, I have access to a very high interest offshore savings account.
>>1224048
me 2 m8
About 45k a year, a modest 2 bedroom home and a piece of land to put it on. That's the high life boys.
>>1224132
If you're in the U.S., you will die unless you're talking about having $200K while still holding a job.
The car will eventually fail and need to be replaced. Even if it doesn't, you have insurance, fuel, and general maintenance costs.
If you own the apartment, you'll have to pay property taxes on it. It's not a whole lot but it is typically 1% - 3% of the value. In your case, $700/year which will go up at a rate faster than inflation most likely.
$50K in the bank will yield $500 interest these days. $75K in investments, if you're lucky, will yield $6,000 in total return per year.
So you have $6,500/year (~$500/month for food, electricity, natural gas, phone, Internet, clothing, medical expenses) to spend and your investments in cash are no longer keeping up with inflation.
I only need about $400k. The growth and dividends on that is enough to cover my living expenses, which would allow me to focus entirely on building the products and businesses I want to build.
I need to be free before I can be free.
>>1224152
Good on you. There's a point where spending more money doesn't really get you anything.
Let's just say you have enough income and wealth to easily buy yourself a new S-class Mercedes Benz. There is no need to bust your ass even harder just so you can buy a Bentley when the MB is already quite nice.
After a point, spending money on such extravagant things is going to make you a target while doing nothing to really improve your enjoyment of life.
Got a 3,000 sqft home? How will one's life be better with a 10,000 sqft home?
>>1224048
What's your plan to make 10 million? :^)
2 million will get you 20k a year with 1% interest.
>>1224048
Ultimate goal wise? At least a few billion a year, post-tax.
>>1224472
Currently at 1.4m before tax.
400k, which is enough for an average returns of 20k a year. I make 150k a year currently, so I should have enough saved up after about 5 years.
>>1224474
m as in memes?
>>1224135
It tapers off unless you're into yachts and sportscars.
Though I don't think I could ever say no to more real estate, that's usually an asset, at least potentially.
Bare minimum: enough for a spacious house in the country with large grounds, a rental property or two (ideally commercial) as a source of income, and a leased apartment in the city.
Just about right: own a country house and a large apartment, preferably Victorian or Georgian in both cases. Apartments or hillside bungalows in neighbouring countries. Rental properties and empty lots on the edges of towns and cities.
Perfect: own a large country house and a large townhouse, and similar properties in neighbouring countries. Own forestries and farms as well as rental properties.
I suppose I should be thinking in terms of stocks, but the peasant in me finds property much more satisfying a form of wealth.
$1m house
$40k in cars
$1m in investment to live the work free life.
One.
Just one.
One business that's the premier solution for my target demographic, with strong sales both domestic and international.
That's my number
a clean million
4% withdrawal rate is 40k
throw in social security and there you have it
4 4-plexes
I will be able to live well and free in one unit with all the others producing enough profit to grow
my number is what ever sets me free, right now that is 4 4-plexes
>>1224360
What was the point you thought that anon was making?
I could retire comfortably with 1m. That's only like 500 a month in hte S&P if i start now. Hopefully I can increase it and get about 1.5 by 50 and retire early. Honestly it just seems like to me the key to retirement is simply not putting in the bare minimum the company matches in your 401k like cucks do.
>>1224859
You're paying more than a quarter of your passive income to property tax, way to go you fucking retard.
>>1224859
why do you need a $1m house you fucking retard. Enjoy paying $20k a year in property taxes idiot.
>>1224870
Basically this.
1m or over. 50% in rent generating real estate, 50% in good dividend stocks. Getting 6% per year returns is easy in both these things, then live on 4% withdrawals. Reinvest everything you don't spend.
>>1224068
200k would be enough for me (east eu)
>>1224048
Yeah I agree 10mil, I would just buy an apartment building and put a management company in charge. Live off the rent, probably like 50k a month after fees and taxes on a 10m building.
>>1225215
If he lives somewhere like the Bay Area, he'd be paying $15K in rent (the landlord's property tax is probably based on a number from decades ago when it was built) for a $400K 1BR condo. So, while not entirely sensible, also not as crazy as it sounds.
>>1225389
Why would you retire in San Francisco? Holy shit that's retarded.
I need to make $50-75k a year
Right now I've got about 300k net worth including home equity and shit
I think I'm doing okay
I don't think I could support a family or even a girlfriend though. I live a very Spartan lifestyle. Keep the expenses low...
>>1225434
This confuses me. I'm in a similar financial situation as you and can't imagine supporting a family. How the hell do couples support 2 kids while making < $50,000 household income?
Anyone that grew up poor wanna give me some insight here?
>>1225215
>>1225190
>implying I live in America land
>>1224048
500k
>200k For 40-80 acres of woods (AZ)
>100k for a big steel shop building to be erected
>use part of shop as a house as well
>50-100k For some kickass shop equipment (Blacksmithing, carpentry, ect)
>Use shop to make money
>Keep 100k for investing, and/or emergency funds.
Keep a part time job somewhere for some extra income and sell shit on etsy and at craft fairs for mad dough every few months to pay the bills.
>>1225480
Depends on the purchasing power of that 50k. I grew up in a rural area, and although my father earned about 58k post tax, our family (father, mother, sister and I) wouldn't be considered poor. More like middle class. Land and commodities where cheap and taxes relatively low.
If we lived in NY or LA on the same income, I'm sure my father would have a hard time supporting us.
2-3 million
I could live just fine in the US off of around $500k. My goal number is $1M including a paid-off house to have a little flexibility, peace of mind, and extra spending money for travel.
$1 million at 7% interest.
>>1224135
After taxes? What the fuck are you talking about. S corporations get taxed 15% and go along with the individual's tax (ultimately, you only pay through S corp). What is the problem with you over estimating how much taxes are?
>>1224048
4k per month after taxes. 5k would be nice so I could save up for big one time purchases, but not absolutely necessary.
With that in mind, I'm thinking about getting into micro lending, which is basically financing other people's various personal debt portfolios. It's interesting, and seems to offer some decent returns. Red pill me/ biz/.
>>1224135
>just a meme
I do that. I have my house, car and wife. I make 6 figures, and once I hit 4k in after tax monthly income (so at about 70k annual), I started just throwing the rest at my 401k and Roth ira. Now I make close to 110k but since $23500 is going straight to retirement accounts, I'm still living on a little over 75k in taxable income. I really started ramping up my retirement savings once I bought my house and stopped having to worry about rent increases and bullshit.
>>1224048
My number is hard to say, so don't mind me while I try and detail out everything for my own sake. For this I'll be using my desired living instead of just practical living.
Realistically I'd say I need 60k a year/5K monthly to live average person normally/semi-comfortably.
This is split between
>2.5K a month for bills, food, various basic stuff (unless married/rooming/ect/or already a home owner)
>1.0K Investing
>1.5K into savings each month
>500 for leisure
Considering 60K multiplied by 65 years(my hopefully well estimated life expectancy), thats already 3,900,000.
Plus I've always dreamt of owning a specific type of house, and my research indicates that they wrack up to the one million zone normally.
So that would be around 5.5 Mill when including potential mortgage interest and future home repairs.
Slap on an extra 500K to help support my mom and cover her medical needs/expenses, sending my youngest sibling off to college, and being able pay out to continue physical therapy/treatments for myself, thats 6 Mill.
So we'll go with that.
I realize how ridiculous this sounds in price, especially the dream house gimmick.
>>1224048
I can live off of 5k a year.
I plan to make at least $289,000 this year though.
>>1228089
*198,000
It's been a long day.
>>1225288
Im in west EU. Inflation screwed the pooch here years ago.
>>1224142
Mind living in West Virginia?
