Lux Investing - How much money would you need so you never need to work again and could live comfortably?

How much money would you need so you never need to work again and could live comfortably?

Unfortunately I don't have alot of money, but I was wondering how much you would need so you could live comfortably from the interest? What is the best way to invest this much money so you could get a regular income from it? Also, what is the minimum amount of money you would need so you can invest in shares? Anyone know of a beginner website so I can learn about investing? Thanks for your help.

Public Comments

i don't know about investing but the government reckons you need to put away about £300,000 for a pension so that you can have an income in retirement of £10,000 a year. I can't see me ever owning my own home let alone saving that much. if your from the UK you can check out this site www.moneysavingexpert.com this gives you tips on all sorts of money issues. i would also recommend that you have a look at the Working Lunch website (a BBC programme) they talk about investments and you can send questions into them. they brake down the jargon into understandable chunks
I'd only need a few million and id be happy - actually at the moment with my finances a few quid would do me xxx
I SUPPOSE IT DEPENDS ON YOUR CURRENT ASSETS DO YOU NEED OR WANT A HOUSE? OR DO YOU ALREADY OWN ONE? THERE'S A $300,000 DIFFERENCE ALREADY
I'd say a million, invested carefully, and not spent on big houses and cars would be plenty. you could get 30k a year form that, while still leaving enough to allow your fund to grow.
Given the current interest rate, rate of inflation, average earnings and tax levels you need about 2 million (stirling). Depressing isn't it.
It all depends on your standard of living. 1/2 a million invested wisely could do a lot. Some places you only need $1000.00 to open an account,then you can add whenever you want.you have to watch how much their fees are. I am doing pretty good With IRA CD right now. you can get monthly checks if you invest $5,000.00 or more or set your own time,3,6,months.
Enough is a term that differs from one person to another. For me enough would be roughly about $350.000 from now until I die. I am pretty settled and hate to travel so I am pretty easy to please. Good luck finding your number.
You need a river flowing of money night and day. As much money as you can`t count,if you can count it its not enough. First buy shares in establishments that have strong capital base,then invest in human beigns with ideas. some people start with £1k or less but you have to find out minimum shares from your company of interest. search google for investments and you get a load of new and old investments ideas and websites
Depends upon what are your comfort levels and mind you, these levels have a tendency to go up the more confortably you are living. It is natural. Monkey was OK in its arboreal state but it must needs come down and try to walf upright on hind legs. But then perhaps neither you would have been thee to ask this question nor I attempting to answer it. So you have to first determine your comfort level and then calculate how much it would cost keeping in mind that with the inflationary tendenies in the air these charges are likely to go up. You may have to run to be in the same place.Then your ever burgeoning liabilities-wife, children etc. has to be provided for.The list is like the never ending tale. Coming to investments the markets are unforeseeable and eternal vigilance is the price you have to pay not only for freedom but living at your levels. I am not aware of any site that would guide you in the matter. But keep your eyes open while seeing the financial news on tv and the papers, also you can consult some reputable investment consultants for wise investments and and always be on the alert which may not go in your ideas of living comfortably but then to avoid discomfort you have to he vigilant.
How much risk can you take? If you want to take no risks at all then 2 million in a goverment bond paying 4% will give you a comfortable £80,000 a year. An index linked bond would protect you from inflation but the returns would be variable. Riskier again would be corporate bonds and equities, but potential gains (and losses) are greater. Property can give you income but requres a bit more active management and can be harder to turn to cash in emergencies. You could start buying shares with £1 but remember that if you are not very savvy to only put down what you can afford to lose, give the investment a few years to grow and to set yourself a stop-loss ie sell if you lose 15% (it's very hard for a share to recover 15%) Have a look at www.thisismoney.co.uk
I hope this can help. I'm making money 24/7 on the internet with Google Adsense program and some affiliate programs. If you can create lots of good information in your website. You will be financially free. I work from home in shorts and T-shirts and sometimes topless. I have all the freedom I need. The only thing that tied me down is 'how much income I want or need' I create new page for my websites everyday. The more websites I have will determine how much income I can get. Anyone who can type and can create websites or blogs can make money. Blogger.com lets you create blogs for free and allows you to make money too. If you can create websites or blogs and can type, you can make online money online easily. You may make money by publishing Google Adsense on your websites. If you have a website or a web-blog, you could make money by publishing advertisements on your site (by google). If someone clicks on those ads, you will earn money. If you don't have a website, you may start creating web-blogs like blogger.com (mostly free) with advertisements (google ads) on it. Some free websites don't allow you to publish google adsense because they are doing it themself. I had received too many yahoo violation notices, so, I'll better not post my own url here. i come by this new blog which I think is good. Take a look if you are free eg: http://lost-newbie.blogspot.com/... I found her on blogger.com. I recommend this blog because I think she needs money badly
moneyinthebank.instantecom.net stick with them and you will be financially free
Check out books by Suze Orman, available at your local library. There's "Road To Wealth," "You've Earned It, Don't Lose It" and "The Young, Fabulous and Broke" but there are others. Suze has a show on Saturday nights on CNBC that I enjoy watching. She covers all kinds of investments and the books are in simple English.
Don't know. Probably a few million bucks.
How much you need would be directly attributable to how much you can comfortably generate in a year. Personally, I used to think $4 million, then $1.2 mill, but now I'm thinking I need much much less because I know I can make much much more in any given year! As for investing, there's a pretty loaded question! There's lots of ways to get regular income. One of the easiest is with covered calls. I know several people who just live off of the income generated from this monthly process. Try compoundstockearnings.com for more info. As for getting started learning about investing, here's what I recommend. You ask a very broad question, so be prepared for a pretty long answer. Just take it in chunks! How to invest depends on what you already know. We'll assume that you're beginning. A good primer is How to Make Money in Stocks by William O'Neil. You can get it cheap just about anywhere. It’s widely available new or used. Another good one is one of Jim Cramer's books. But books will only get you so far. At some point, you'll also want to get at least a little training. There are some great education companies if you want to make the investment. Investools.com or optionetics.com are both very good companies as is tmitchell.com For free, you can start by visiting thestreet.com and investopedia.com. That'll get you a pretty good primer so at least you'll understand what the markets are and what a stock is, etc. If you get a chance, watch Mad Money on CNBC. Don't trade any of his picks. Just use the show to get you to understand some basics and get a feel for the market itself. Next, subscribe to something like investorsbusiness daily or something like that that can help you identify good stocks. Once you understand stocks, go to 888options.com. It's a website that'll help you understand options (what they do, how they work, etc). You don't need to trade them, but the more you know, the more you'll see how options can really be the safest way to invest (once you're educated). I know that’s a LOT to absorb. Just take it one step at a time for now. Start with a book or two to give you an idea of where to begin. If you're starting with a smaller amount of money, you'll probably want to save up at least a few dollars so you don't get eaten up by commissions (around $10-15/trade). When you have say $200 or so, you can put it into an ETF or into a growth stock. Meanwhile, you can always papertrade to practice (highly recommended). Start slow, then as you figure things out, you can buy more shares. Congrats again on getting started. If you have any questions, please let me know. Hope this helps!
A good free site for learning about the stock market and how to invest in it is www.investopedia.com This site also has a simulator where you can practice investing in the Stock Market using virtual money. Depending on interest for your living is a very uncertain way to live. The interest rate can change drastically over two or three years. And the interest income you get this year may be cut in half next year. Also, the amount of money you need to live on comfortably depends on the lifestyle and on the place where you choose to live.
Assuming one is a careful investor and you wish to live comfortably but not extravagantly, about $2,000,000. That will provide plenty to live on and enough to conpensate for the ravages of inflation during future years, wich is more of a concern than current living expenses. A decent book for beginning investors is "Investing for Dummies". It is a good place to start. Your library might have a copy. If not most book stores carry it. About $20.00--3 cups of Startbucks. You can start investing in mutual funds with about $500 if it is a fund with a front end load. You can then add $50 a month or so. Funds with front end loads (sales charges) are not as bad as some people would make them out to be. They generally have lower expense ratios than no load funds. And some have very good track record. If you want to buy direct shares in companies, you can also do it with a small amount of money through Sharebuilder, but I think mutual funds are better for beginners. They have less specific risk than investing directly in stocks. If you do not believe that, ask someone who invested in World Com or Enron.
would very greatly depending on where you live, what lifestyle you want to live, what type of home you want etc. cnbc has great ideas-tv. sharebuilders.com msnmoney, yahoo finance