• TheOneCurly@lemmy.theonecurly.pageEnglish
    6·
    2 years ago

    124,594 hours (14 years) would be enough to retire right now, anything less than that wouldn’t be immediately “life changing” since I’d still have to hold down a job.

    • agarorn@feddit.deEnglish
      3·
      2 years ago

      Do you mean the income of 14 years, or the income you would get working 14 while years (which with a 40hour work week is more like 60 years of work)?

      • TheOneCurly@lemmy.theonecurly.pageEnglish
        3·
        2 years ago

        I took the amount I estimate I would need to retire right now at my current age and divided that by my current hourly rate. So it’s 124,594 working “man-hours”, as you say like 60 years of working. But that value goes down every year I do actually work and as my retirement investments grow.

        I assume OP asked it that way to normalize and anonymize it a little.

        • agarorn@feddit.deEnglish
          4·
          2 years ago

          Well good luck reaching that goal. However 60 years of work seems way to high.

  • kersploosh@sh.itjust.worksEnglish
    5·
    2 years ago

    $3M. I could retire immediately with a comfortable stream of investment income. Anything less would be helpful, but I would still have to work.

  • thejevans@lemmy.mlEnglish
    4·
    2 years ago

    Lots of student loans and no money saved, so unless it’s enough money to pay off all the student loans, buy a house, and have a self sustaining retirement fund, my life wouldn’t change today. Any amount would certainly help in the future, but if it doesn’t reach all those goals, I’ll still have to a similar day-to-day for the time being.

  • HobbitFoot @thelemmy.clubEnglish
    3·
    2 years ago

    I’m probably going to need a year’s worth of my time, in part because I would use that to take a year off.

  • Seytoux@lemmy.oneEnglish
    2·
    2 years ago

    Two-three years, to quit job, buy materials and needed machinery, little cushion and make the same work I do for other people and make money for myself instead as others.

  • haych@lemmy.oneEnglish
    2·
    2 years ago

    Depends how life changing we’re talking. $1k could do up my garden and furnish my house. $10k would mean I wouldn’t need to worry about mortgage repayments for a year.

  • Sinnamon@sh.itjust.worksEnglish
    2·
    2 years ago

    Two years worth would be enough down payment for the mortgage on a nice, non-starter home in my area affordable. Anything less would just go towards that future goal.

  • makingStuffForFun@lemmy.mlEnglish
    2·
    2 years ago

    20 years. Mortgage + interest paid off. I’d still have to work of course, but to be mortgage free would be a game changer.

    Including not needing to work, maybe another 20 years on top of that.

    Kinda depressing huh

  • _finger_@lemmy.worldEnglish
    2·
    2 years ago

    I’m turning 36 this year and it’s already happened in a way. In 2019 I was making $14 an hour working at a head shop, and now I’m making just shy of $100k and it finally feels like I can take care of myself (barely)

    If you live in any major metro area, I really feel like you can’t break the true comfort level unless your household income is $200k. $100k just doesn’t cut it anymore if you want to own a decent house, pay crazy prices for healthcare, have saving/retirement.

  • piece@feddit.itEnglish
    1·
    2 years ago

    As of now, 2 years would be enough. I would have enough money to get out of my parents house without them giving me money for a year so that I could study without working before I (hopefully) get my scholarship next year.