The assumptions are you are single and childless and will remain so, it's just you to worry about, 21-22 years old, fresh out of college, so you pretty much have your whole life ahead of you, and you live in the US.

Someone randomly gives you a lump sum of money, no strings attached, no taxes, etc.

What is the minimum amount of money in this situation where you would consider yourself "set for life"?

The term "set for life" is highly subjective of course and that is the point.

Didn't want to bias the answers with my own personal opinions.

Are we allowed to work during this period? Or is this considered a retirement fund of sorts?

I'm 45 now and I would guess that my current number and my age 21-22 number would be off by at least one order of magnitude.

Weird that were assuming a 21-22 year old will remain single for life, but okay.

Since you said "yourself" towards the end, I'm gonna pretend it's actually me. I live in manhattan and since we're assuming single..I personally would never move anywhere else unless it was to Europe (even post marriage in my actual real life I'll be in suburbs and commute to manhattan for work), and to be able to live here I'd say rent would be 3k (assuming single), spending probably 1k a week and an extra 20-25k for traveling a year. So 113k * 70 = $7,910,000

Yes I realise you said minimum but there's no way I see myself single post-undergrad living anywhere else and assuming I'm here in the city there's no way I'm living in an apt less than 3k a month, and no way I'm giving up my hobby of traveling to not work. Obv this never works and it's why people have jobs but regardless....this is my answer.

At least 10 mil + if you want an above-average lifestyle.

And all that being said I would rather work a 9-5 job with a salary of $0, than not have a job and get paid 300k a year. So putting myself in that scenario is just weird and makes not much sense.

One of the most ridiculous statements ever. I understand the logic behind it but you went too far on both ends of the spectrum.

Knew it was a matter of time before we got the stereotypical elitist snob who can't imagine living anywhere other than Manhattan

My business has an opening that meets your salary requirements. We should talk.

Im the exact opposite, so please go out and find a 300k/yr job and just give your salary to me. We both win.

set for life to me means "I aint never gotta worry about not being able to pay the rent or feed myself". 500K would easily accomplish that, id just invest it and go about my merry life. Even if I never amounted to anything better than some crappy desk job, id be never have to worry about not having enough money someday when i was too old to work.

like 6.5 million at least. Cocaine and prostitutes are expensive in the long run.

"Set for life" needs to be given one definition in order for this poll to make any sense at all.

bout tree fiddy

5 mil, invest it and don't touch for 30 years, work in the meantime.

I thought about it and I think 3.5MM tax free is what I need.

Pay the house off or buy a new one- 350k
Car-60k
Spending money-50k
Other stuff-40k

That leaves me with $3MM in the bank and I can invest that at 3-5% a year so lets assume 4% average (which is low) and that gives me $120k a year in interest. Thats not a bad salary. I also assume I am going to work or start a business of some sort. Get married and the wife would be working at least part time or enough for insurance. Id be set with that but in no way be a baller.

How much income do you think 500k will produce each year?

Taking advantage of your wealth and affording yourself opportunities not available to the average person whilst you're young > Not touching the 5 mil + invesments until you're in your 50s.

you want to get a wife for the free healthcare??

I said single forever because family size would obviously change the answers dramatically.

A single person vs. a married couple vs. a family of 5, all are very different financial situations, just trying to control a very broad variable.

As for "set for life", it's vague on purpose, that's up to you to define.

And someone asked if you could work if you wanted to, yeah, you can do whatever you want, if you wanna get a job you're more than welcome to.

It's your opinion someone cannot live an "above average" lifestyle on less than 10 million dollars?

What % of the population exactly do you think earns a total of 10 million dollars over their lifetime?

No OP, Farber isn't set for life with 1.8 mil zzzzz