Lottery Related Poll: At what winnings level WOULD you quit your job?

[Ombligo]

I clicked $500k but only because there wasn't a $250k option.

House - paid for
Son's college - 90% paid for
cars - paid for
credit cards - paid off every month
2 acres Caribbean island property - paid for
401k/IRA - very healthy six figures

our standard of living? - very reasonable $60k/year is fine. We never made more than $70k a year and did all the above, so relaxing now on $50-$60k should not be a problem.

[Paul F.]

Ombligo wrote:
I clicked $500k but only because there wasn't a $250k option.

House - paid for
Son's college - 90% paid for
cars - paid for
credit cards - paid off every month
2 acres Caribbean island property - paid for
401k/IRA - very healthy six figures

our standard of living? - very reasonable $60k/year is fine. We never made more than $70k a year and did all the above, so relaxing now on $50-$60k should not be a problem.

See? THIS is why I have those lower-end numbers in the poll!

[tahoedrew]

Part of the X factor for people that hasn't been discussed is age too. At 34 I've got a LOT of life (both my grandfather's lived in excess of 92 years!). And while I've started saving for retirement, even $100k would be a few multiples of what I've got currently stashed and no where near where I want to be 30/35 years from now.

Add to that I love my job, or at least the line of work I'm in, and it would take $10 Mil+ to get me to quit tomorrow. With $5 Mil I'd start to think about quitting after I started a business or two I've been dreaming up, but it would be almost 6 months before I truly weighed everything, talked to lawyers and financial planners and business mentors, and decided what the best options were. With nearly 60 years left on my life $5 Mil isn't going to get me to the end of that... mostly because I'm staring down 60 years of inflation!

~A

[mattkime]

heh, the rich or near death (or both!) need significantly less money!

[DeusxMac]

Paul F. wrote:
DeusxMac;

Again, I built in the assumption that SOME people might actually have some savings and investment (and retirement plans, like 401K or Roth IRA's) that the winnings would just ADD TO.

Assuming this was survey intended to mean quit working forever;
- Probably for $500,000.
- Perhaps for $100,000.
- Highly unlikely for $10,000. That's less than a year's wages for virtually everybody. Anyone for whom that might possibly make the difference between quitting work and not, might as well keep working for a full year's wages and use the 10 grand for lifestyle improvement.

[testcase]

I chose the last option. I'm retired and I ain't given' that up! I would be playing at a much higher level though.....

[Grateful11]

DRR wrote:
$1m and I'd quit.

for $5 m I could likely afford to retire.

Without knowing how old you are do you plan on having $5 mil. when you retire.

[Jimmypoo]

I’d become a well known socialite.

I’d also release my own movie, like Paris Hilton, and blame the maid staff… since it would be the maid
that was getting the staff!!


HAHAHAHAHAHAHA!!! I kill me!

[PeterB]

testcase wrote:
I chose the last option. I'm retired and I ain't given' that up! I would be playing at a much higher level though.....

Incredible, I'm the other person who chose the last option, and I'm *not* retired. I cannot imagine NOT working... money is great and all, but it can only buy you happiness in the form of hookers and booze.

[Michael]

PeterB wrote:
[quote=testcase]
I chose the last option. I'm retired and I ain't given' that up! I would be playing at a much higher level though.....

Incredible, I'm the other person who chose the last option, and I'm *not* retired. I cannot imagine NOT working... money is great and all, but it can only buy you happiness in the form of hookers and booze.
I'm the other, other person who chose the last option. Interesting that we do the same thing. I've been at it 31 years and I'm 58. I have no intention of quitting any time soon. It's way too cool doing what we do.