On Virgin radio this morning, Mad Dog and Maura were talking about how much money it would take for them to retire. They were talking 2-5 million to get them to quit their jobs and live off the interest earned on that amount of money. I have never felt bad for thinking certain things, but as soon as they asked how much it would take for me to retire, I immediately said out loud – minimum 10 mil! When M and M said 2-5 I felt like maybe I was selfish, or foolish or both?? But then I got to thinking why I required 10 million and here is what I came up with:
1. I would buy my mother a nice little one bedroom condo – cash – so she wouldn’t have to worry about ever paying rent or a mortgage again and then I would give her $100,000 to live off of. (approx $500,000 total)
2. I would take me and all my girlfriends on a one week all inc. vacation to the Bahama’s. (approx 20,000)
3. I would donate 1 million to a charity supporting under privileged youth (1 million)
4. I would give my sister-in-law and her family $1 million. (1 million)
5. I would get my dad a cook/maid, to make all of his meals the way he wants to ensure he is eating 3 proper meals a day (approx 60,000/yr)
6. I would set up bank accounts for my three nieces and nephew with 100,000 each so when they are 25 they can buy a home of their own or blow it all on video games and bubble gum (300,000 total)
7. I would invest 2 million to live off the interest (2 million)
8. I would build my dream home and have my father move in with me – hence the cook would actually be cooking for me too – hahahaha (approx 1 million)
9. I would buy GBF a new car – brand new – cause wow that boy has car trouble (approx 60,000)
10. I would buy Sushi bf and D a dream vacation as well cause they have been SOOOOOO good to me the past few months! (approx 30,000)
I don’t know what else I would do – lots of things I am sure, give to more charities, adopt some babies, travel extensively etc etc. But so far that totals $5, 970,000. Thats a lot of money and I haven’t even thought of the clothes and shoes I would buy – cause lets face it I would, also the personal trainer I would hire to get my ass in shape and the wedding I would plan with someone who gets really lucky to have me as their loyal wife!!!
So what money amount would it take for you to retire?