What is the minimum amount of money you'd need to feel extremely financially secure?

[Foreign]

What line of business are you in?

I'm a software developer for a firm that has about 15 employees and 2500 clients. We do mainly tax-related accounting software for a variety of businesses including several NFL football teams, the Bill and Melinda Gates foundation, etc. In the past 10 months I've released two products, one of which brought in over 2 million in revenue and was used by around a million people for year-end alone (and will continue to bring in revenue in the coming years). The second title is being pitched at Convergence (the biggest annual trade show in the U.S.) in Orlando, FL this week.

[gran guerrero]

sweet lord of mercy. I live in orlando, adopt me on the way out.

[tahkis]

let's say you get that 30 million dollars and some asshole sues the heck out of you. even if you don't lose, you'll lose an assload of money, and he's surely not going to have any sympathy for some millionaire. you don't think it can happen, but just wait untill you slip up and someone tries to steal your money from you.

"Only in USA"

[Birthday Party]

you can never really be financially safe from anything. let's say you get that 30 million dollars and some asshole sues the heck out of you. even if you don't lose, you'll lose an assload of money, and he's surely not going to have any sympathy for some millionaire. you don't think it can happen, but just wait untill you slip up and someone tries to steal your money from you. So if you do get that 30 million, i'd suggest buying a "20 million dollar" trailer out in bumfuck and go bury that shit or something. I'm not really sure how the irs would handle you writing off ur 20 million on a mobile home purchase, but once ur net worth drops and you got that stash pot, ur set.

That is why you need a strong family, like a brother or something. Incorporate yourself, make your brother a shareholder. If you run into issues where it seems someone is going to take your assests away, pay them out as dividends to your brother. See how they like that, suing a bankrupt person who lives on his brother's estate.

[Bioture]

I haven't done any illegal drugs since last October and the desire to have them has gone. Now-a-days it's just a few beers on some days of the week.

Would God be horribly mad if I did a little 420 now and then? -_-

Ditto on the children of the earth thing. Gotta give up saving the things that can't save us. Not that you shouldn't put your daughter through college or anything

[Cops]

Read a cool article in the New York Times today:

http://www.nytimes.com/2008/03/09/ma...l?ref=magazine

The article itself was about philanthropy, but part of it mentioned that a survey done in 1998 of Americans found that $20 million was the the average amount of money needed for people to feel extremely financially secure. The point of the article was really to talk about what to do once you had more than that, would you give it away.

Just for fun though, I wonder what everyone on this forum thinks? We're a different subset of society seeing as how we are all quite young with most of our lives still ahead of us, but with most of us having few if any real responsibilities right now to tend to.

I'll change around the question a bit:

If you could receive a lump sum today, what is the minimum amount of money you would need to feel completely financially secure for the rest of your life?


For me I'd say probably $30 million. I'd probably immediately (in the next few years) spend $2-3 million, give away $5-10 million to family and then invest the rest and save it for purchases and expenses as more responsibilities come my way. Of course this money would also be good for me to give to worthwhile causes, and dabble in some business ideas that I'd never try now because failing at those ideas would ruin me.

I'd be fine off 2 Million, I could bank a million and live off the interest and just have the other cash floating. I'd probably buy a house down in Florida and live there half the year. By the way Florida your house market is ridiculous. I can't even buy a townhouse in Mississauga or Toronto for $200,000 but I can buy a fully brick detached brand new home in Florida for less than $200,000. I'd travel a lot, I'd like to live in Ireland and Scotland for awhile. I'd spend a year in Australia and finish school.

If i had 20+ Million I'd buy myself, and my family houses. I'd give one of my brothers money on condition that he finishes school. I'd like to donate at least a quarter of what I have to various causes. I'd like to see where my money's going and what type of impact it actually has.

[Galleleo]

I'd give one of my brothers money on condition that he finishes school.

I bet that Kolar would have no problem agreeing with that condition.

[Cops]

I bet that Kolar would have no problem agreeing with that condition.

Actually its the other one, I refuse to give a 24 year old money or a house when that person has no ability or knowledge on how to manage their own life or finances. I'd let him live in the house for a year or two but I'd still own it, once he finishes school and shows me a diploma the house would be his. I'd expect the same from his girlfriend. I'd even pay for him to go to school, but he would need to show me and everyone else in this family that he isn't a complete fuck up.

edit: sorry for the family baby mama drama.

[gran guerrero]

I'd be fine off 2 Million, I could bank a million and live off the interest and just have the other cash floating. I'd probably buy a house down in Florida and live there half the year. By the way Florida your house market is ridiculous. I can't even buy a townhouse in Mississauga or Toronto for $200,000 but I can buy a fully brick detached brand new home in Florida for less than $200,000. I'd travel a lot, I'd like to live in Ireland and Scotland for awhile. I'd spend a year in Australia and finish school.

If i had 20+ Million I'd buy myself, and my family houses. I'd give one of my brothers money on condition that he finishes school. I'd like to donate at least a quarter of what I have to various causes. I'd like to see where my money's going and what type of impact it actually has.

It's because no one wants to move into a extremely humidity-plagued state that's infested with Cubans, old people and hurricanes. Not to mention it looks like a limp dick.

[Zeebu]

It's because no one wants to move into a extremely humidity-plagued state that's infested with Cubans, old people and hurricanes. Not to mention it looks like a limp dick.

what a fantastic idea for a new state motto

florida, the limp dick state

[Galleleo]

I know you meant the other one Cops

[Squeezer]

It's because no one wants to move into a extremely humidity-plagued state that's infested with Cubans, old people and hurricanes. Not to mention it looks like a limp dick.

Truth. It feels like you're breathing tar in Florida.

[Cops]

It's because no one wants to move into a extremely humidity-plagued state that's infested with Cubans, old people and hurricanes. Not to mention it looks like a limp dick.

It has palm trees though, god I love palm trees. I got stuck in Ohio for the night and it was a bit better than Buffalo but still pretty bad. Florida is beautiful, it might have its problems but it was definitely a lot better than New York or Ohio. The old people weren't so bad, it's really quiet in some areas. I've also ended up some shitty areas, the shitty areas are A LOT worse than the ones here in Ontario. The taxes here are too high, I didn't mind them in Florida. I think living in America and being in America is a lot more intense than being in Canada. I almost punched a guy in Buffalo for telling me I budded a whole line of people when I kept letting people in front of me go ahead of me because my girlfriend forgot to check in a bag that was too big.

Since I can go there once a year for free (excluding flight and food) I will definitely go.

I arrived in Ohio about two hours late, I ran off the plane and asked a representative from Continental Airlines if my plan was still here, I thought they might have delayed it. She told me yes so I ran for it. I arrived at the terminal and the person checking boarding passes didn't really look at them, she told me to go in. I sat down in the plane and then suddenly a minute before we take off a flight attendant asks me where I'm going, I say 'Orlando'. She says 'Orlando? This is going to Seattle!'. The guy behind me says 'I'm going to Arizona!'. We get up and walk towards the front of the plane and as I leave I said 'I fucking love flying on Continental Airlines', the flight attendant looks at me and says 'that was inappropriate'. I said 'yes it was, now I'll get off your plane'. On the way out you hear 'Just a notice to everyone, if you swear on this plane, the police will be called and you will be arrested'. I laughed and walked away. Kolar dealt with Continental who didn't reimburse us for the flight or the hotel we paid for. I decided it was best to hang in the back after opening my mouth in America, I don't like cold fingers being poked in colon.

[Pandagirl!]

Where in Ohio were you?

[gran guerrero]

well yeah I guess you can love florida when you visit it, but when you live in any area, you can pick out a shit ton of problems with it. I lived in South Florida for most of my life and am currently living in central Florida, and I know for a fact with the exception of people going to UF or FSU, most of the Northern Floridians are dumb as shit rednecks. Tampa is alright. I'm pretty much sick of Florida after living here for all of my life (nearly 20 years). I'm ready to leave...