As the Title Suggest... if you were to win the Lottery... what would be the Minimal amount you would want/need to win to be all set for life?
This means all expenses taken into account... food, travel, utility bills, taxes, misc expenses....
I got curious looking at my portfolio put together by my Bank of all my Expenses and pondered how much would I need to be set... so:
I think if I had 7 Million (USD), I could not have to work another day in my life and buy everything I would need, start a family and raise that family through their college life....
Basic Calculations thinking that I would spend 80k a year:
7,000,000 / 80,000 = 87.5 Years
after the initial spending on the house cars, friends, parties i may be down 1.5 million (most of it on the house in the best neighborhood)
7,000,000 - 1,500,000 = 5,500,000/80,000 = 68.75yrs!
A few million invested in gold/silver/uranium... and other potential investments
I think that is pretty much set for life!