My wife and I sometimes have fun thinking about this. We usually feel like we’d need about $2 million to not have to work. But then we talk about all the people in ministry we’d want to support. We realize we’d want a lot more money! Then the conversation starts going the other way- how long can we work and make money to help support the mission of Christ?
I feel that to have enough would be to have all my debts and my childrens debts paid for. Have insurance auto and health, have food in the cupboard, and gas in my cars. If I was to put a money amount on top of that I feel that Paul has nailed it with $750,000 that is drawing interest.
About 30X our current gross income would make us feel rich. That would be enough to draw about 120% of our present salary with little risk. No, our lifestyle would not adjust up, we’re ready to downsize.
Thanks for all the comments, everyone.
Andy, reminds me of the famous John Wesley quote about making and giving all you can.
My wife and I sometimes have fun thinking about this. We usually feel like we’d need about $2 million to not have to work. But then we talk about all the people in ministry we’d want to support. We realize we’d want a lot more money! Then the conversation starts going the other way- how long can we work and make money to help support the mission of Christ?
I feel that to have enough would be to have all my debts and my childrens debts paid for. Have insurance auto and health, have food in the cupboard, and gas in my cars. If I was to put a money amount on top of that I feel that Paul has nailed it with $750,000 that is drawing interest.
About 30X our current gross income would make us feel rich. That would be enough to draw about 120% of our present salary with little risk. No, our lifestyle would not adjust up, we’re ready to downsize.
With a house that is paid for, kids through college and an adequate pension, $750,000 drawing interest and dividends would make me feel rich.
Two million in savings.