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View Poll Results: How much of your income would you live off if it meant you didnt have to work ever?
10% - I don't care about material goods. Let me live! 3 9.68%
20% - I do enjoy a steak once a month. I'll have all month to think about it though! 0 0%
30% - Cable television is too important especially now that I have all day to watch! 3 9.68%
40% - Cable is nice, but I need HBO. Deadwood is too good. 0 0%
50% - I really enjoy my time and am willing to downsize to a 12 pack a week. 5 16.13%
60% - So what if it takes twice as long to save for things. I have twice as long to ride! 4 12.90%
70% - I'm fine with leaving work so long as I have enough $ to travel from time to time. 4 12.90%
80% - I could use to simplify my life for more time. 1 3.23%
90% - I could make a few sacrifices if it meant having all of my time. 3 9.68%
100% - I enjoy my current lifestyle and I'm fine with working. 8 25.81%
Voters: 31. You may not vote on this poll

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Old 04-08-08, 07:54 PM   #1
permanentjaun
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How much is your time worth to you?

This thread and poll assumes that you are a full time working individual. The question is, 'If you were presented with scenario of either working your current job or quiting with the guarantee of being paid regularly a certain amount of money for the rest of your life, but it was a lesser amount than you make working; how much of a cut would you be willing to take to quit your job?

It's easier to put in a fictional situation. Pretend you make $60K a year and work at least 40 hours a week. Would you be willing to quit and only get paid $30K a year, but be set for life on that amount? You'd probably have to give up some luxuries that you enjoy on a $60K salary, but you'd be free to spend every minute of every day as you wish. Do you want to stay home with kids? Ride your bike every day? Travel? Do yard work? It's up to you.

The difficult scenario is if you absolutely love your job and can see yourself doing that for the rest of your life. I guess if this is you then good for you. I doubt many people are in this situation. That brings up a whole different topic for another time.

The other flaw in this poll will be if you make very little, and sacrificing a large part of your income would put you well into poverty. Someone making $1 million could effectively sacrifice 90% of their income and still make more than someone who makes 'just' 90K and would be willing to sacrifice only 10% of their income to retire.

Still, I'll pose the question and discussion. What percentage of your income would you be willing to live off of if it meant you would never have to work again?
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Old 04-08-08, 07:55 PM   #2
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It's called retirement, and in my case, it's 45% of my current income, supplemented with my savings and investments.

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Old 04-08-08, 07:58 PM   #3
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income? What is that?
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Old 04-08-08, 09:19 PM   #4
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Why does it stop at 100%? This poll blows.
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Old 04-09-08, 12:29 AM   #5
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Why does it stop at 100%? This poll blows.
BF only allows 10 options. I had to limit the choices. Sorry.
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Old 04-09-08, 01:44 AM   #6
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I quit work with an income level of about 30% of what I made the year before I quit. It's been 20 years, now...
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Old 04-09-08, 06:42 AM   #7
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I could get by on 30% of my pretax income. And then I'd probably do volunteer work. Really.
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Old 04-09-08, 07:12 AM   #8
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90% of my current income and I have all my time free? Bring it on.

I'd take seasonal employment to boost the income to over the current 100%, and leave the nice-weather months for riding and working around the yard and house.
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Old 04-09-08, 07:40 AM   #9
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It's easier to put in a fictional situation. Pretend you make $60K a year and work at least 40 hours a week. Would you be willing to quit and only get paid $30K a year, but be set for life on that amount? You'd probably have to give up some luxuries that you enjoy on a $60K salary, but you'd be free to spend every minute of every day as you wish. Do you want to stay home with kids? Ride your bike every day? Travel? Do yard work? It's up to you.
I'd rather work. For me, it isn't that I love my job. I would just need a lot of money to keep myself occupied and free of boredom all day, everyday. I like staying busy and there's only so much you can do around the house, etc.
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Old 04-09-08, 07:43 AM   #10
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I'd rather work. For me, it isn't that I love my job. I would just need a lot of money to keep myself occupied and free of boredom all day, everyday. I like staying busy and there's only so much you can do around the house, etc.
low cost hobbies:
Gardening - vegetable and flowers
Bike riding
Jogging/hiking
Bird watching
Volunteer work at charity/church
Teach yourself to play guitar, you can buy a cheap guitar for $99-$200 and a couple books and spend hours learning and perfecting your technique.
I could keep going on with this....but, yeah, I'd probably still have a part time job.
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Old 04-09-08, 09:55 AM   #11
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I claimed the 90, when you live in Toronto and only make about 30K, you can only afford so much of a cut. I like to travel!

not to mention the amount of time one could be spending finding ways of making MORE easy money. If you got a job on top of your salary, wouldnt that render this entire thread pointless?
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Old 04-09-08, 09:58 AM   #12
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50%. And that's with a job I love. I seriously enjoy Mondays.
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Old 04-09-08, 10:00 AM   #13
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I put in 100% - we already live relatively frugally given a middle-class existance, but my wife doesn't work. If she were employed I'm sure we could take a drop more easily. Also my kids are going to be going to college starting in 2 years and continuing for at least 8. About the time they're done our mortgage will also be paid off, so I suspect we might start recovering from any student loans/etc then.
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Old 04-09-08, 11:31 AM   #14
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I put in for 100% as well. I thought about the 90% option but that won't take into account inflation over the next 25-30 years or longer based on our current ages and theoretical life span and besides, we like what we do. Given our aggressive savings plan for our future, now is not the time to stop.
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Old 04-09-08, 11:35 AM   #15
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I put 100%, but I wish there were an option for higher. Student life sucks.

Once I find a decent job, there is a balance between income, and stress. I love my current part time job, where stress is very low, but it doesn't even keep up with gasoline costs. However, I've had jobs in the past that paid quite well, but I'd be so stressed out, it wasn't worth the money.
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Old 04-09-08, 12:01 PM   #16
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My wife earns more than I do, so I am fine with staying home and watching the kids after school and riding. Who is gonna call her and let her know for me?
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Old 04-09-08, 06:56 PM   #17
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Hmm, I would have to say around 50% possibly depending on how much I got out of my profit sharing. If I could build on my land and move there, food would drop drastically, no rent. Of course, that's from a 3rd of the hypothetical 60 grand...
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Old 04-09-08, 07:16 PM   #18
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Gardening - vegetable and flowers
Bike riding
Jogging/hiking
Bird watching
Hm. I kinda stopped there. Bird watching. Is that supposed to be unboring? Just kidding, I know a lot of people that do that. Maybe that should be my next hobby.
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Old 04-09-08, 07:20 PM   #19
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Is that supposed to be unboring? [...] Maybe that should be my next hobby.
Your heart is clearly in it 100%!
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Old 04-09-08, 07:29 PM   #20
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So, where does that put me? My time is my own and I don't have to sacrifice for it.
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Old 04-09-08, 07:32 PM   #21
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If I did not enjoy my trade I would have found another line of work.
That said, so long as I'm warm, dry, and fed, money does not mean a damn thing to me.
If any of those three conditions are not met, I'm extremely conscious of value.
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Old 04-09-08, 07:33 PM   #22
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So, where does that put me? My time is my own and I don't have to sacrifice for it.
Yeah ya did. You just got that part over with first.
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Old 04-09-08, 08:00 PM   #23
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I don't make enough to be able to cut back significantly. I would consider taking that offer only if I could put the money towards starting my own business and still get the free money.
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Old 04-09-08, 08:19 PM   #24
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Your heart is clearly in it 100%!
It takes a lot for me to commit to something. Plus, I'm indecisive.
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Old 04-09-08, 09:08 PM   #25
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100% as a minimum, 500-600% would be better with no working. Fantasy to be a Dance Host on a Cruise Ship and ride off-season and when the ship is in port, anywhere in the world.
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