What point are you rich enough at?

Biggins

I was reading about Goldman Sachs, the world's richest investment bank, who could be about to pay its chief executive a bonus of up to $100m (€72m). Mr Blankfein took home his biggest bonus so far in 2007, when he was paid $67.9m (€49m). I presume this is on top of his probably massive weekly wage.

(Story HERE)

The question I was wondering is; at what point in wealth would you consider yourself happy and satisfied for the rest of your life - and possibly anything after that is a waste of good money sitting in bank rotting away!

JONJO THE MISER

About two fitty, always wanted to say that on a thread first:D.

FunkZ

As much money as possible realistically!

Though a good standard of living, around 50,000 - 60,000 after tax is what I want.

The main thing is enjoying your life!

FunkZ

JONJO THE MISER wrote: »

About two fitty, always wanted to say that on a thread first:D.

I love you

Pighead

As soon as I can walk into a shop and buy a pair of these trousers without feeling any guilt at the pure excess of it all, then and only then will I consider myself to be rich enough.

pickarooney

I think the realisation of 'I have enough' is one of the most elusive for humans. As long as more is readily available it's very hard to say no.

I honestly couldn't answer this question.

Biggins

pickarooney wrote: »

I think the realisation of 'I have enough' is one of the most elusive for humans. As long as more is readily available it's very hard to say no.

I honestly couldn't answer this question.

Its tough one.

For myself, I think it would be at a point where I could safely live off the interest alone from my savings/investments in my bank and knowingly admit that I never have to worry about a bill in my life ever again.
What that financial figure is - is a tough question to pin down.

star.chaser

when your wiping your arse with 500 euro notes

Biggins

star.chaser wrote: »

when your wiping your arse with 500 euro notes

LOL
While sitting on this?
http://www.asianoffbeat.com/photos/toilet-in-gold_3940.jpg

Fizman

JONJO THE MISER wrote: »

About two fitty, always wanted to say that on a thread first:D.

Could you not have at least got it right?

:pac:

WindSock

Smugness is the best form of wealth:

The wealthiest person is a pauper at times
Compared to the man with a satisfied mind

Coincidently, a song that has been in my head all morning

jd007

star.chaser wrote: »

when your wiping your arse with 500 euro notes

And can that still be used as legal tender?

Biggins

jd007 wrote: »

And can that still be used as legal tender?

You could really claim that you were paid crap money!

Agricola

Yeah, where the interest on the money in your bank account allows you to buy a new car once a month if you wanted. That would definitely be enough for me.
I remember reading somewhere that the woman from Limerick who won the 115 million earns roughly 60k per week in interest :eek:

Cianos

Biggins wrote: »

I was reading about Goldman Sachs, the world's richest investment bank, who could be about to pay its chief executive a bonus of up to $100m (€72m). Mr Blankfein took home his biggest bonus so far in 2007, when he was paid $67.9m (€49m). I presume this is on top of his probably massive weekly wage.

(Story HERE)

The question I was wondering is; at what point in wealth would you consider yourself happy and satisfied for the rest of your life - and possibly anything after that is a waste of good money sitting in bank rotting away!

The people who are chief executives of world leading banks are in that position because of their relentless thirst for money. So for that guy even a $100m bonus probably isn't enough.

Sea Sharp

If I could earn more than 200k a year in interest I'd be happy.

Biggins

Agricola wrote: »

Yeah, where the interest on the money in your bank account allows you to buy a new car once a month if you wanted. That would definitely be enough for me.
I remember reading somewhere that the woman from Limerick who won the 115 million earns roughly 60k per week in interest :eek:

Wow. That would certainly be enough for me.
I could honestly say, anything after that would be going to charity.

biko

When I can do what I want and not having to think of the cost.
And I don't mean buy planes and such, just being able to holiday abroad for 2 months in the year and have a nice house/car.

Liam Byrne

LazyFingers wrote: »

Though a good standard of living, around 50,000 - 60,000 after tax is what I want.

+1

I guess it depends on your circumstances and goals (kids now or in the future vs single with no extra costs)

I'd be happy with a guaranteed €40K after tax, but could see that needing to rise to €60 or €70 with a family. I also couldn't imagine myself doing absolutely no work.

Then again, I'm someone who'd prefer to win €500,000 in the Lotto than €17 million - pay off the house, buy a new car, then tip away as normal with no change in lifestyle, but with no financial worries.

The other answers are probably typical of AH, rather than real answers.

funk-you

[/NY Accent] Just gimme the dollaz, where's the dollaz at...just gimme all the dollaz[/NY Accent]

-Funk

patmac

Nelson Rockefeller was asked 'How much is enough' , he replied
'just a little bit more'.

themadchef

I dont think anyone can ever hae enough money. It's our nature to want more. Earn €40k a year- want to earn €200k, worth €1,000,000 want to be worth €10,000,000.

Some of us confuse our self worth with the bottom line on our bank statement.

theg81der

I added it up once and made myself a cheque - its 36million, one million for each person I love. I don`t want them to have too much because I don`t think its lucky or good for us to have too much, we loose our drive. Thats enough to ensure they have a nice home, oppurtunity to educate themselves and their families and pay basic bills. Any extra would go to charity or my own idea - I`d like to build a passive retirement village that old people could afford to live in.

Money is paper people are what matters!

Choke

Biggins wrote: »

The question I was wondering is; at what point in wealth would you consider yourself happy and satisfied for the rest of your life - and possibly anything after that is a waste of good money sitting in bank rotting away!

You can't make people happy by law. If you said to a bunch of average
people two hundred years ago "Would you be happy in a world where medical
care is widely available, houses are clean, the world's music and sights
and foods can be brought into your home at small cost, travelling even 100
miles is easy, childbirth is generally not fatal to mother or child, you
don't have to die of dental abcesses and you don't have to do what the
squire tells you" they'd think you were talking about the New Jerusalem and
say 'yes'.
-- (Terry Pratchett, alt.fan.pratchett)


People are never happy because we invent new necessities as soon as we've taken care of the old ones.
If you look at Ireland now, we are living in a golden age, for each and every resident.
Doesn't stop everybody bitching though.

As soon as you fly business class, you wanna try executive.
As soon as you try golf on the tenth greatest golf course in the world, you wanna try the best.
As soon as you can afford champagne regularly, you want it regularly.
As soon as your family get accustomed to a certain lifestyle, you want to keep them in that lifestyle.

Oh, and btw, chances are his 100million was mostly in the form of stock - he almost certainly doesn't have that in the bank.

tech77

20 billion.
Anything else is just vulgarity.

My name is URL

100,000,000 would do me, that's why I plan on doing the Euromillions on Friday

bnt

The day I have no more worries about money, when I can let someone else handle it and trust them to do so, is the day I'll call myself rich. Milk will just appear in the fridge, and I won't even know how much it cost. :cool:

Dubs

Im usually happy enough if I have a hotel on Shrewsbury road and someone lands on it.

Earthhorse

Biggins wrote: »

For myself, I think it would be at a point where I could safely live off the interest alone from my savings/investments in my bank and knowingly admit that I never have to worry about a bill in my life ever again.
What that financial figure is - is a tough question to pin down.

Agricola wrote: »

Yeah, where the interest on the money in your bank account allows you to buy a new car once a month if you wanted. That would definitely be enough for me.

You say that, but what you most remember is that, with more money at your disposal your ability to buy more expensive items increases. Usually people's tastes do change the more income they have. They'll buy a bigger house, more expensive cars and soon the interest you earn isn't enough to simply live off. It's pretty much observably so in the world.

m5ex9oqjawdg2i

About 60 - 80K a year is plenty enough for me...

Darksaga87

Enough to have a money fight with Mr. Burns... and win!

Quality

Its all down to the liquidity, I can be a millionaire on paper but not have a penny to my name...

Sheeps

I'd like to be a billionaire, because you can pretty much do anything and not have to worry about the cost where as if you're only worth a mere 100 million or bellow you kinda have to watch what you buy.

bonerm

I'd consider one to be rich if the accumulation of money was at that point only an interest and not a requirement. Also personal freedom would be an important requirment. No point having loads of money if your position means you have no time/freedom to enjoy it.

Red_Marauder

Money is like sex. I can't imagine ever having enough to look around and say "that's enough, I'm happy".

What a terrible thing it would be if we one day woke up and said "if things never get any better, I don't mind". With a mindset like that, man would never have ventured far beyond the darkness of the caves.

SubrbanOblivion

Hard to say. Ambition is a good thing, and it's human nature to want to push further and do more.

But how much do I really need? If the bills are paid and the man I love is beside me, life is grand

Sleepy

3 million.

At a reasonable 5% interest per year this equates to earnings of 150k a year. That's plenty for me and my family to live more than comfortably without ever having to work again and in all reality, I know I'd end up starting some form of business and adding to it after I'd had a few years off.

bonerm

Sleepy wrote: »

3 million.

At a reasonable 5% interest per year this equates to earnings of 150k a year. That's plenty for me and my family to live more than comfortably without ever having to work again and in all reality, I know I'd end up starting some form of business and adding to it after I'd had a few years off.

That's weird. I came that exact figure of €3m as well. Didn't have any business intentions tho. Was just going buy a house in Dublin and then spend the rest travelling the world and living in reasonably priced hotels until I drop dead with a big smile on my face one day.

PeakOutput

dont you pay dirt on your interest? maybe not

anyway for me to be more than comfortable 100k a year

for what i want maybe 500k a year

i was expecting alot of people to go down oh my gawwwddzz 100million bonus the bankers are w*****s but congrats to all for refraining

dblennon

I always felt that you could live off 7 mill. and equate for standard inflation.

IE.

7,000,000 * 3.5% nett of tax = 245,000

you can live very comfortably off 170,000 per year and you would be returning 75,000 a year to the gross.

I am also using a very very conservative nett rate of return, realistically anything less than 5% is poor.

cleremy jarkson

I would say that 10 million is as much money as I would want in order to be able to just forget about working and live well.

If somebody handed me 10 million euro, I would take 250,000 and have it in cash for while I'm young and in college and just live the life! I'd buy a decent car, not have to worry about the cost of sitting repeat exams or the possibility of having to pay college fees, buy games consoles, dvds, a jacuzzi, go out 3 out of 4 nights a week (would still drink most of my drink before heading out though), buy classy clothes.

I'd then take the remainder and live off the interest for life and perhaps use my financial back up to involve myself in an outlandish career that woludn't be practical otherwise!

So, 10 million is as much money as I would ever really want...and if somebody gave me 50 million I think I'd just completely lose touch with reality and buy stupid stuff!!

msg11

A car
A house
A dog

A decent internet connection in Ireland. Well there's something money can't buy. But for everything else theres your Mastercard..

ForeverYoung90

When you have a dream house....a dream car and a sweet 3million sitting in the bank!