How much money is enough?? (pay, million, taxes, debts)

[Ron.]

Let's keep this simple and basic. How much money is enough for you to live off of? Forget about inflation,taxes.blah,blah,blah. Give a number that would be good enough for you to live of off.


For me $30,000 a month would be fine. I could save/invest $15k and live off the rest. I'd have to leave Chicago and move to a less expensive place but I could do fine with $30,000/per month.

[ViewFromThePeak]

Originally Posted by ChicagoRon

Let's keep this simple and basic. How much money is enough for you to live off of? Forget about inflation,taxes.blah,blah,blah. Give a number that would be good enough for you to live of off.


For me $30,000 a month would be fine. I could save/invest $15k and live off the rest. I'd have to leave Chicago and move to a less expensive place but I could do fine with $30,000/per month.

Don't think of it in dollars. If the Fed continues it's course, you could be a starving millionaire in a couple of years.

[alterego]

That's a lot of money. $30,000 per month would be way more than fine for me. That's $360,000 per year! assuming that is $30,000 per month every month.

[Buckhead_Broker]

It depends. For some people, $30k per month would be exceedingly tough to get by on. For others it would be Valhalla.

[BLAZER PROPHET]

Speaking as someone who makes $60K per year, I think I could struggle by on $30K per month.

Somehow.

[bhcompy]

id be comfortable if i could put 20% of my income per month into a saving acct after expenses and a small discretionary fund

[sweetana3]

I have kept track of expenses for 25 years. I know I could live on 30,000 PER YEAR and be comfortable. No debts or mortgage.

[TKramar]

I'm getting by...right now...on less than $1600 a month...and feeding TWO people--and a cat.

[8 SNAKE]

Originally Posted by ChicagoRon

For me $30,000 a month would be fine. I could save/invest $15k and live off the rest. I'd have to leave Chicago and move to a less expensive place but I could do fine with $30,000/per month.

You'd have to leave Chicago??? $15k/month (after savings) might not put you on the water, but you could easily stay in the city for much less than that. You might choose not to, but you would certainly have the option.

Reading through some of your other posts, it doesn't appear that you're making $30k/month now and you're living in Chicago? I'm perplexed by your statements.

[Niners fan]

Originally Posted by ChicagoRon

For me $30,000 a month would be fine. I could save/invest $15k and live off the rest. I'd have to leave Chicago and move to a less expensive place but I could do fine with $30,000/per month.

I know you said forget about taxes, but with $30k per month you would pay $15k in taxes first. At times in my life I have made hardly any money and at other times I have made great money. A huge amount of money never goes as far as you think it will even if you are not a big spender.