• thejevans@lemmy.ml
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    1 year 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.

  • _finger_@lemmy.world
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    1 year 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.

  • HobbitFoot @thelemmy.club
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    1 year 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.

  • TheOneCurly@lemmy.theonecurly.page
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    1 year 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.de
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      1 year 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.page
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        1 year 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.de
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          1 year ago

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

  • Seytoux@lemmy.one
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    1 year 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.

  • Sinnamon@sh.itjust.works
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    1 year 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.ml
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    1 year 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

  • zerbey@lemmy.world
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    1 year ago

    I’m in my mid 40s, married with three kids (teenagers and one in his twenties) and we’re right in the middle of middle class.

    $100K I could pay off both our cars, and put a nice down payment on a house and enjoy a lower cost mortgage.

    $500K I could buy and furnish a house, no more rent or mortgage (but still taxes, which are pretty reasonable where I live).

    $1 Million same, but a nice nest egg for the future and help my kids get set up.

    $2 Million or more I could seriously consider retirement.

    $5 Million or more, I’m definitely retiring.

  • Karlos_Cantana@sopuli.xyz
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    1 year ago

    I don’t think money would change my life. I make enough to pay my bills and eat. I have plenty of friends, and that doesn’t cost money.