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M$M?
Mar 7, 2018 19:27:29 GMT -5
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Post by Halloween King on Mar 7, 2018 19:27:29 GMT -5
This is a lotto thread. I've been thinking about it a lot and often. A while ago my wife asked me, "if you won a million dollars, would you quit your job?". At first I said no. I can make those Million dollars at work in just shy of 10 years. But then she asks me If I'd want to stay in the city and continue working. The thought being that we could move out of the city and live off a million dollars a lot longer than in a city. So it makes me think.
How much do you need to win in a lotto before you'd consider quitting your job? Would you move? Winning an insane jackpot like 500 million seems like a no brainer, you could do as you pleased. So let's keep the numbers low. What smaller amount would you need before you quit your job?
For me, if I wanted to stay in Chicago and quit my job I'd say I need 10 million. I could buy a nice new home, a typical new home in Chicago will cost you anywhere from 400k to 5 million for an average sized home. If I were to win a million I would seriously consider quitting my job but I'd have to leave Chicago.
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M$M?
Mar 7, 2018 19:51:23 GMT -5
Post by GBGav on Mar 7, 2018 19:51:23 GMT -5
I thought about a similar thing a few years ago and I think I came up with about £3m. That would allow me to live off of the interest earned. I wouldn't want to blow the whole lot on uber expensive items but I could live quite well on just the interest alone.
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M$M?
Mar 7, 2018 19:55:05 GMT -5
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Post by Halloween King on Mar 7, 2018 19:55:05 GMT -5
I thought about a similar thing a few years ago and I think I came up with about £3m. That would allow me to live off of the interest earned. I wouldn't want to blow the whole lot on uber expensive items but I could live quite well on just the interest alone. Would you relocate? Stay in the same spot? Stay but buy new home? |
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M$M?
Mar 7, 2018 20:14:00 GMT -5
Nivro™ likes this
Post by snatch on Mar 7, 2018 20:14:00 GMT -5
I could live off 2 million. So 2 million, I’m good at budgeting money. I’d probably move to Orlando. I love Orlando, if you get bored there there’s something wrong with you. I like to party so downtown Orlando is on steroids compared to Boston or providence. Plus you have Universal Studios and all the water parks.
But let’s say I won 200mil. Yeah I’d 86 my business, I’d still move to Orlando. But I’d buy a club/bar and mange it.
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M$M?
Mar 7, 2018 20:45:39 GMT -5
snatch likes this
Post by Nivro™ on Mar 7, 2018 20:45:39 GMT -5
Id say $3 million with ease. $1 mill to go on that spending spree for a big house and nice cars and then Id live off the interest of the other 2. Its roughly $80k a year which is quite a bit.
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M$M?
Mar 7, 2018 21:20:13 GMT -5
Post by GBGav on Mar 7, 2018 21:20:13 GMT -5
I thought about a similar thing a few years ago and I think I came up with about £3m. That would allow me to live off of the interest earned. I wouldn't want to blow the whole lot on uber expensive items but I could live quite well on just the interest alone. Would you relocate? Stay in the same spot? Stay but buy new home? If I'd been asked that a few months ago I'd say that I'd move to the US or Canada and just travel around. But now I'd stay here in the north east of England and buy a home. The lady in my life is here and I wouldn't leave her, nor would I ask her to leave her family behind. I'd still go travel the world but now it'd be with her and we'd always come back home in the end. |
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M$M?
Mar 8, 2018 0:12:07 GMT -5
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Post by ~*Young $ Money*~ on Mar 8, 2018 0:12:07 GMT -5
Probably around 6-8 million I would say. Even then I’d prob need a little something. By the time I bought a house a car or two and did whatever I wouldn’t be left with a huge amount. I would obviously invest it though
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Post by bababooey on Mar 8, 2018 4:44:10 GMT -5
I don’t think there’s any amount I could win that would make me want to stop working. I’d probably go crazy and blow all the money on something dumb if I stopped working.
However, if I won like $10 million (after taxes) I’d maybe relocate to somewhere quiet and comfortable and starts a company. I like my job now a lot and I’m good at it, but it’s more of something that affords me the opportunity to keep up with hobbies. It would be nice if I could turn my hobbies into a career and have enough funds to do it the way I want.
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M$M?
Mar 8, 2018 10:58:06 GMT -5
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Post by vampiroporvida on Mar 8, 2018 10:58:06 GMT -5
100k. I would quit and live free for nearly 10 years, pursuing my other interests to hopefully then set for life with no technical "job, " but helping people.
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M$M?
Mar 8, 2018 11:15:59 GMT -5
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Post by k5 on Mar 8, 2018 11:15:59 GMT -5
2 million if I invested it properly.
2.5 to 3 to completely retire from the concept of working.
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M$M?
Mar 8, 2018 11:23:09 GMT -5
Post by T R W on Mar 8, 2018 11:23:09 GMT -5
One Million would be plenty enough for me to pay off my house, and start a small business that will actually be enjoyable and live comfortably.
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Post by Jack Specific on Mar 8, 2018 11:43:28 GMT -5
Call me crazy, but I would still work. My wife on the other hand would definitely not. I would love for her to not have to work and I'd buy her a car. We would most definitely move to another house, not necessarily a larger one or some mansion, but something where we I would not have to mow my lawn or shovel snow or worry about potential flooding. I also want to buy a boat, nothing huge, just something modest. There's really nothing extravagant that I would want though. The only thing I really really want is to just not have to worry about money... about hospital bills or something costly happening to my house. Stuff like that. Just the security of not having to worry about anything like that would be my dream.
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M$M?
Mar 8, 2018 13:18:11 GMT -5
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Post by Mongo Bears on Mar 8, 2018 13:18:11 GMT -5
I like to work I just wouldn’t work as much. For a smaller amount like 1-3 mil I would just buy a new home and have a nice vacation home somewhere and go on sweet vacations while I just lived with less stress. In order for me to completely quit working and uproot to another place it would need to be about 5-10 million
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RedDevil
Main Eventer
Joined on: Aug 8, 2017 18:43:00 GMT -5
Posts: 1,543
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M$M?
Mar 15, 2018 17:22:56 GMT -5
Post by RedDevil on Mar 15, 2018 17:22:56 GMT -5
I desperately want to win the lottery due to my long-standing plan to change my phone ringtone to the Million Dollar Man theme tune  Being in my mid-30s now (my birthday was on Monday so sadly I can no longer claim to be in my “early” 30s  ), I’d think I’d need at least £2m (about $2.8m) before I could start thinking about “retiring”. £3m+ ($4.18m) and I’d be pretty certain to go through with it. Job one would be for me to buy a house, which is my target right now over the next year or so. I’d stay in the area due to family, but also there are some great areas around here that I’d be proud to call home. If I have a house paid-off then right now that would feel like a huge step to financial freedom. I’d set-up part of the reminder in some way to provide a secure and safe income, and use the rest to explore some new avenues for however many years I have to go before oblivion. Also that “low” a win might help with my friends and family - in theory at least then £3m will bring a lot less pressure to keep giving hand-outs than say a £100m win would. But hopefully it would be enough to finish my Hasbro collection   |
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), I’d think I’d need at least £2m (about $2.8m) before I could start thinking about “retiring”. £3m+ ($4.18m) and I’d be pretty certain to go through with it.
