As we all know, money(or the lack thereof) is one of the biggest sources of stress in our lives.

 

According to the results of a new survey in Australia , 24% of those surveyed said 1 million dollars(that's Australian dollars- or about 800,00 American greenbacks) in cash would enable them to live essentially stress-free for the remainder of their lives.

 

17% said they would need 6 million to live stress-free , while the biggest percentage of those surveyed, 30% , said they would need 8 million in cash.

 

33% said getting out of debt and being financially secure were the top reasons for requiring that kind of money. 22% of those surveyed lied and said that helping family and friends is their main goal for needing those bucks.

 

So, my question to you is the same- How much money do you think you would need in order to live out the remainder of your life pretty much stress-free, at least in regards to financial worries???

$3.0MM

There will be at least one more market correction in my life time. Need to be able to get thruogh it.

I'm a long way away form there.

$5M... I just had this conversation with a friend of mine yesterday.

Tough call. Truly stress free for me would be making having a job totally unnecessary. It wouldn't take much for there to be low stress for financial responsibilities, but there is still the stress of a job if you can't live totally off of what you already have.

 

I'd say probably 3-5 million would accomplish it.

If everything works out the way I have it planned my wife's car is paid off next year and our house will be paid off in about a little over 4 years. Just about the time I plan to retire. The only holdup to that will be medical insurance. I won't be eligible for medicare until a couple of years later. So Mrs. nWo and I will be quite comfortable with our retirement. Won't have nearly a million dollars but we will be able to do some traveling without any trouble. We plan on going to Hawaii right after I retire.

$5M... I just had this conversation with a friend of mine yesterday.

 

How many more years?

How many more years?

 

I figured about 60 for me.

Half a mill would be more than enough for me......I really want for nothing,.......coaches pass and Media credentials get me free admission to HS sporting events, what more do I need. :lol2:

Yeah I could do it for a million or less...fix a few things around the house, pay it off, a newer used vehicle for my wife and my self and the rest to live on. Along with current situation that would have me not worrying about finances at all, could even afford college if free academic ride doesn't come through for my daughter.

 

We'd be good to go.

Half a mill would be more than enough for me......I really want for nothing, (as I take what I need out of the work truck),......coaches pass and Media credentials get me free admission to HS sporting events, what more do I need. :lol2:

 

Fixed it for you. :lol2:

$750k....

The great unknown is future healthcare costs and living expenses.

 

I met with a client this week that provides in-home services for the elderly. It allows them to live at home instead of moving them to a nursing home. It can be simple like come in and cook and clean for them or it can be 24/7. 24/7 costs about $10k to $12k per month. They can't get to all of the requests because they can't find enough people to do the job.

I'm good. I will make any amount work. Who knows what will happen with pensions, health insurance, Medicaid, etc.?

Edited March 26, 20179 yr by Bengal Maniac

20 million for me.

The great unknown is future healthcare costs and living expenses.

 

I met with a client this week that provides in-home services for the elderly. It allows them to live at home instead of moving them to a nursing home. It can be simple like come in and cook and clean for them or it can be 24/7. 24/7 costs about $10k to $12k per month. They can't get to all of the requests because they can't find enough people to do the job.

 

Average retired couple will spend 250k on healthcare in retirement. A great unknown for most.