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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?

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  • 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%
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  1. #1
    Senior Member permanentjaun's Avatar
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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?

  2. #2
    Lanky Lass East Hill's Avatar
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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.

    East Hill
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    TRY EMPATHY & HAVE LOVE IN YOUR HEART, PERHAPS I'LL SEE YOU ON THE ROAD...

  3. #3
    Hazardous Taerom's Avatar
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    income? What is that?

  4. #4
    cab horn
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    Why does it stop at 100%? This poll blows.
    Mes compaingnons cui j'amoie et cui j'aim,... Me di, chanson.

  5. #5
    Senior Member permanentjaun's Avatar
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    Quote Originally Posted by operator View Post
    Why does it stop at 100%? This poll blows.
    BF only allows 10 options. I had to limit the choices. Sorry.

  6. #6
    Senior Member deraltekluge's Avatar
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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...

  7. #7
    J E R S E Y S B E S T Jerseysbest's Avatar
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    I could get by on 30% of my pretax income. And then I'd probably do volunteer work. Really.
    Quote Originally Posted by SingingSabre View Post
    Cheating: a symptom of the problem.

  8. #8
    Seņor Member USAZorro's Avatar
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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.
    The search for inner peace continues...

  9. #9
    Bring May Flowers aprilm's Avatar
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    Quote Originally Posted by permanentjaun View Post
    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.

  10. #10
    Banned. ModoVincere's Avatar
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    Quote Originally Posted by aprilm View Post
    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.

  11. #11
    freed psycho. RUN. freecycle's Avatar
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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?
    "This thing looks like Wavy Gravy binged on Kool Aid and jellybeans, took some bad acid, and threw up under a tree." --Bike Snob NYC

  12. #12
    Burning Matches. ElJamoquio's Avatar
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    50%. And that's with a job I love. I seriously enjoy Mondays.
    Reacting is mind candy; it requires no thought. Thinking is tedious.

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  13. #13
    Seņior Member ItsJustMe's Avatar
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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.
    Work: the 8 hours that separates bike rides.

  14. #14
    Senior Member ryder47's Avatar
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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.

  15. #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.

  16. #16
    You Know!? For Kids! jsharr's Avatar
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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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  17. #17
    Senior Member Caspar_s's Avatar
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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...

  18. #18
    Bring May Flowers aprilm's Avatar
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    Quote Originally Posted by ModoVincere View Post
    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.

  19. #19
    phony collective progress x136's Avatar
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    Quote Originally Posted by aprilm View Post
    Is that supposed to be unboring? [...] Maybe that should be my next hobby.
    Your heart is clearly in it 100%!

  20. #20
    Third World Layabout crtreedude's Avatar
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    So, where does that put me? My time is my own and I don't have to sacrifice for it.

  21. #21
    Administrator Allen's Avatar
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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.

  22. #22
    Administrator Allen's Avatar
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    Quote Originally Posted by crtreedude View Post
    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.

  23. #23
    or tarckeemoon, depending marqueemoon's Avatar
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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.

  24. #24
    Bring May Flowers aprilm's Avatar
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    Quote Originally Posted by x136 View Post
    Your heart is clearly in it 100%!
    It takes a lot for me to commit to something. Plus, I'm indecisive.

  25. #25
    Senior Member ken cummings's Avatar
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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.
    This space open

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