How much is enough? What's your $$$ goal?

[Credit]

Continuing my middle-of-the-sleepless-night-weird-topic-series I was wondering if you guys are ever planning to quit domaining? What is your personal/financial goal?

Mine is 1 mil. Then I'm out...fo reaaaaal.

 

[tekz999]

more than rick schwartz wakakka

 

[DN BROKER]

quiting... No WAY ... its just starting to get HOT

Im in for Life!

Blood In Blood Out

 

[WeBuyThe.Com]

What is your personal/financial goal?
Mine is 1 mil. Then I'm out.

1 Million isn't really not much money anymore
Let's say you sell your portfolio for 1mm
now you pay taxes (in the USA) 40% is gone
you now have 600K and let's assume you toss
that into the bank at say 5% you now have
$30,000/yr coming in which again is taxable so
you are left with about $22,000 per year or
about 60 dollars a day....

 

[dnol]

all the people that can be supported by me if they cannot get supported from other ways.
How much do I need to provide to them?
God bless me!

I think money is not making much sense if you are not hungry and at the same time you are happy.

 

[Credit]

1 Mil would be enough for me...that would be before going to med school...so I think it would help

 

[draggar]

I think I'll start off small.

I'd like to sell ONE domain.

Then, if I could make enough to comfortably live off the interest...

 

[smashfactory]

i am lucky to not be in the position to support my family- hubby does that- so i use it to just, buy stuff-
so, i have no long term goals, just short ones- last year i wanted a deck on the house- so that was a goal i met- needed a new camcorder, sold domains, etc....

 

[sashas]

I'm not in for life...domains are just a way to accrue capital and resources for other plans, much bigger plans.

 

[petrosc]

1 Million isn't really not much money anymore
Let's say you sell your portfolio for 1mm
now you pay taxes (in the USA) 40% is gone
you now have 600K and let's assume you toss
that into the bank at say 5% you now have
$30,000/yr coming in which again is taxable so
you are left with about $22,000 per year or
about 60 dollars a day....

wow the tax in the US is 40%? why don't you open an offshore company somewhere where the taxes are less? Cyprus for example - 10%

 

[sashas]

10%??

they're 30% even in India.

 

[MacyT.]

wow the tax in the US is 40%? why don't you open an offshore company somewhere where the taxes are less? Cyprus for example - 10%

b/c the tax man here will find you...maybe not today, maybe not tomorrow, but eventually it catches up with you. If it were as easy as just opening an offshore account and thinking the gov't takes no notice, I think a lot more people would be doing it. Also, I think the rate is more like 28-35% depending on income.