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How Much Money You Think You Need For The Rest Of Your Life...?

GO843

Life Coach In Between Jobs
A lotta people feel a constant need for more...Which is understandable in our society, but I never really had that...I want more than I grew up with and more than I have now....But if I got a certain amount, I THINK I'd be good...

I'm 29...And I THINK 10 million would be enough for the rest of my life...Pay off all my debts, get properties for myself and family(some of which would be rental properties), invest another portion, and move to Africa...I'd live an extremely comfortable but modest life and set up trusts for my kids...I wouldn't keep tryna grind for a 100 M's or somethin like that...

Unless the world economy drastically changes before I die, I THINK that's my number....What's yours?
 
I have had a couple million pass through my hands over the years.

The time you buy a house, a couple cars, pay taxes, go on a few vacations, save for retirement, and take care of your family that money disappears quick.

You only really have the equity in your house and your retirement savings (if the market doesn't take too big a hit).
 
$1,000,000 buys a shitty bungalow where I live and taxes are over 50%.

Toronto is expensive...
 
If I decide to live like I make $240,000/yr at least til age 65, after taxes, probably 15 million. They tax about 38% for every million so I'll really have around 7 or 8 mil. If i pay off the $100,000 debt im in, max 401k then roll into IRA, buy stock, bonds etc. A small house worth $100k and a couple cars I should be good.

*Unless I end up having kids and got raped on child support or got 70% of my assets taken from me by my ex wife in divorce court I might have to triple that number to 45 million. Wishful thinking either way.*
 
There is no limit for me. My main goal is to create generational wealth. So I'm not just thinking bout myself but my family for the future. And friends. But at a certain amount and/or age, I would stop working (retire from my career). Just do investments and let my money make itself.
 
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