Note: Numbers below would be money in the bank, after taxes.
1 million: Takes the edge off, I could support a family, and live a reasonable lifestyle. I'd take up a hobby with the spouse, or work on personal projects to bring in some extra money and to keep busy.
2 million: Similar to above, but working is no longer necessary. I could life comfortably and be happy. Of course, I'd need to be careful with my spending, and not drop $1,000 on a bottle of wine. I'm not one for fancy toys, so this could easily be retirement money in my situation.
3 million+: Same as 2 million, but I'd just have the option to do everything a little bigger. Higher end cars, larger house, more expensive city, better downtown location, etc. Personally, not necessary, so I'd just bank it, or put it towards a startup.
In short, I'll say 2 million is FU money. It provides everything I need in life, it would support a family, and at that point I can leave the rat race.
Comments
Note: Numbers below would be money in the bank, after taxes.
1 million: Takes the edge off, I could support a family, and live a reasonable lifestyle. I'd take up a hobby with the spouse, or work on personal projects to bring in some extra money and to keep busy.
2 million: Similar to above, but working is no longer necessary. I could life comfortably and be happy. Of course, I'd need to be careful with my spending, and not drop $1,000 on a bottle of wine. I'm not one for fancy toys, so this could easily be retirement money in my situation.
3 million+: Same as 2 million, but I'd just have the option to do everything a little bigger. Higher end cars, larger house, more expensive city, better downtown location, etc. Personally, not necessary, so I'd just bank it, or put it towards a startup.
In short, I'll say 2 million is FU money. It provides everything I need in life, it would support a family, and at that point I can leave the rat race.