• jevans ⁂@lemmy.mlEnglish
    3·
    3 years 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.

  • makingStuffForFun@lemmy.mlEnglish
    2·
    3 years 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

  • _finger_@lemmy.worldEnglish
    2·
    3 years 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.

  • kersploosh@sh.itjust.worksEnglish
    2·
    3 years ago

    $3M. I could retire immediately with a comfortable stream of investment income. Anything less would be helpful, but I would still have to work.

  • Sinnamon@sh.itjust.worksEnglish
    1·
    3 years 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.

  • Subversivo@lemmy.mlEnglish
    1·
    3 years ago

    I’m impressed that would be only a year. I have so many debt I thought it would be 3 to 5 years.

  • zerbey@lemmy.worldEnglish
    1·
    3 years 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.