How much money does one need to live comfortably and never have to work?

Question

Assuming they don't spend the money extravagantly

Answer 1

you take $1'050'000. you put in Bank

the first year you live on only $50'000. by the end of the next year you will have a profit of $80'000 to$100'000. evey year for the rest of your life

Answer 2

20 million dollars

Answer 3

Work backwards - decide how much you need to live comfortably, then choose an interest rate that seems sustainable (say 5% invested in tax free bonds) and that will give you the amount you need.

for example, if you think you can live on $50,000 take home a year in the midwest (probably very doable, quite a bit more, say, in New York City), then in order to generate the $50,000, just figure out the following

50,000 = X x .05

50,000/.05 = X

$1,000,000 = X

So, if you can live on $50,000 a year after taxes, just find some nice tax free bonds paying 5% and invest $1 million in them and live off the interest,

Answer 4

My dear there's no amount of money that will make you live comfortable , because any amount one spend without adding must surly finish someday accept you're in billions

Answer 5

A h**l of a lot

Answer 6

you have to become a millionaire to live comfortably

Answer 7

A good guideline would be to live off of 4% of your savings.  This guideline is used for retirees.

You might be able to make about 4% interest with a well balanced stock/fund/savings portfolio.  The guideline here is to live off of the interest generated by the money you have.

Using this guideline, one million dollars in savings should yield you and income of about $40,000 per year.

The biggest problem for most people is this income is then constant (doesn't increase with inflation).  

The question here is:  what kind of an income will be required in twenty years?