How much money do I need to acquire to stop working?

[bobs]

There is no money that you make that will be enough for you to stop working because if you stop working

 

[Heartstrings]

I don't think there is a specific amount of money to make so as to stop working, because so far we are alive and breathing,we all wants to continue making money either one way or the other,and don't forget the more we live ,the more expenses and the urge to make more money. What if you make alot of money and decided to stop working,then after so many years ,you were robbed off your hard earned money or one challenges or the other surfaces? All I know is that money can never be enough,if not most of our politicians would have retired from making more money long time ago. And one thing I have come to realize is that,you can really never be satisfied with how much money you have make so far in life, because you would want to strive and make more money. Without money you can't get your needs,take care of yourself and family.

 

[sincerem]

Even if I earn all the millions of my own time, I wouldn't stop to push for more. As long as you live, your needs can never be limited. Human needs are unlimited, the higher you go in life, the more hungry you are towards achieving other things you aren't able to achieve previously.

Their are times at my level I can earn easily $50 a day, which is above my set mark, still, I wouldn't be contented for the day. Because, I want more, since I've got that one, my aim will be to go for higher amount of money. I'll continue to work until I am tired for the day. Provided you're working hard, you'll always seek to go past your target in the future. No one will love to remain stagnant with same amount of earnings year after year, improvement is very necessary in life to fend for bigger needs.

 

[uforwealth]

The major purpose for which everyone is working is to make money probably to be satisfied. But my question is, do men actually get satisfied after making so much money? The economists say that human want is insatiable. I think there should a certain stage in life when someone would make so much money and decide never to want more. Is there a particular amount someone can make to make such decision, or better still, is that kind or decision feasible in human life? As at this moment, the richest man in the world is still aspiring to make more money, is it supposed to be so?

It is supposed to be so but it can never be so because human wants are insatiable and resources used to satisfy the wants or needs have alternative uses. Therefore, there is no amount of money that will be enough to the extent that one will stop working for more money.

 

[saoussen5765]

Stop working leads to many mental problems because during work you meet people and have daily time full of things while having money and spend it lavishly without doing anything is something not recommanded. May you are happy first days but things becomes boring day after day.

 

[King bell]

There is no specific amount of money you need to stop working. It's just a figure of speech for the amount of money you need to have in order to live life comfortably without having to work. If you have enough money saved up, you can travel and explore on your own terms, start a business, or just live comfortably with what little money comes in each month.

Another factor that you must consider, though, is your lifestyle. What does your current lifestyle cost? How much does it cost to support your habits? If you're saving for a house, you need to provide a certain amount of money each month, but are you really prepared for the cost of living?

Obviously some people have more money than others. I know somebody who lived in south Africa for six years and still had trouble paying her rent every month because she spent recklessly on clothes and shoes. She wasn't able to save any money because she was always out partying with friends or going shopping at places like Walthaw's and Nordstrom's (those are some expensive stores).

 

[CALVINDOL]

There is literally no specified amount of money and individual should make that could make him or her to stop working but rather stay at home and enjoy the riches and wealth he or she has acquire. In fact when an individual is rich and wealthy he or she cannot stop working because we need to keep working in order to maintain the richest and the wealth we have acquired for ourselves. The possibility for an early you don't to stop working possibly because he or she has acquired a huge and reasonable amount of money in which he or she can be able to satisfy his or her numerous desires or wants and needs totally depends in his or her own choice and decisions.

I cannot make choices and decisions for everyone but in my own perspective I cannot see myself not working because I am rich and wealthy.

 

[Yusra3]

There is no one-size-fits-all answer, as the amount of money needed to stop working depends greatly on your lifestyle and expenses. However, a general guideline is you may need around 25 times your expected annual spending in retirement savings in order to retire comfortably. So for example, if you spend $40,000 per year, you may want $1,000,000 saved before stopping work. The 4% safe withdrawal rate rule also suggests you can withdraw 4% of savings annually. Having no debt and low housing costs also reduces the required retirement funds. Meet with a financial advisor to determine the right savings target for your unique situation.

 

[saoussen5765]

If you invest this amount in staking annual pay rate is higher it could be 25 % APR 20 % or 16 % greater than the bank pay rate. Do not take my post as financial advice.