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What is the minimum amount of money it would take to be "set for life" What is the minimum amount of money it would take to be "set for life"
View Poll Results: Set for life?
500k - 1m
36 9.70%
1m - 1.5m
33 8.89%
1.5m - 2m
39 10.51%
2m-3m
68 18.33%
3m-5m
67 18.06%
5m-10m
72 19.41%
10m+
56 15.09%
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11-28-2013 , 02:50 AM
#201
MurderbyNumbers234's Avatar
MurderbyNumbers234
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journeyman
Join Date: Nov 2012 Posts: 266
The only thing being underestimated ITT, are catastrophe expenses. Medical, family issues, a hurricane knocking over your house etc.

Everyone here is probably sub 40 (myself included), so we haven't had to deal with life's most costly chapters yet. Once you have assets, and a family, your burn rate goes up exponentially.

That being said, assuming you were eternally single and family-less (could be ideal imo), and are going to die from a lightning bolt, I can't imagine needing more than 1 million dollars wisely invested (say an easy 4-5% from corporate bonds) to feel "set for life".
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