Minimum Lotto winning you could retire on?

@jeremymg16 Picking individual stocks is just high risk investing tbh. I have an isa here in the U.K. and it’s great. Everyone gets 20k allowance to put in every year. Almost everyone I know has one. Pay in as much or little as you want and just let it accumulate. There is no equivalent in Ireland. It’s honestly one of the things that keeps me in the U.K.
@jeremymg16 Im still up overall even though the markets haven't been fantastic. Thats the nice thing about being in funds and not individual stocks. Investments are for the long term anyway though - I just put something in every month and let it grow.
@blessbrenda I'm thick as a plank when it comes to investing etc...I'm in my early 30s and not wealthy by any standards, I'd say 5m would allow me to never work again safety and stress free.
@blessbrenda 5 mil. It would be enough for me to leave full time work and do my hobbies to fill my time, and as a little earner while reducing the stress of working for someone else.

Look after my parents to ensure they can retire right away too.
@blessbrenda I know nothing about finance hence the reason I’m so poor but by reading posts here, looks like the first thing anyone need to do is buy a property over seas or even the north and use that address for tax purposes as Rip of Ireland will rape ya every direction you turn unless the only thing you want to buy is houses.
@blessbrenda For a person under the age of 35 who is either a) “homeless” or b) indebted to a mortgage, the minimum should be…

Double your current wage (or whatever take home that enables you to live comfortably) and multiply that by remaining years left to retirement.

This minimum should allow you to be mortgage-less and live within your means.

That could be anywhere in or around the 2 million mark.

If living within your means is not an option, granted winning such an amount, a blow out is to be expected, you’d need to add another 2-3 million on top of a 2 million euro winnings.

So we’re ballparking 5 million euro minimum for a person under the age of 35 to retire and not excessively spend.
@blessbrenda 3.5 million would be plenty
  • House - 1m towards a house (on top of my existing equity, savings and investments)
  • Regular Income - 1.2m in property investment giving me a regular income of 75K (4K per month after tax) after expenses/depreciation which is loads to live on when you have no mortgage/rent/savings/pension to fund etc. Would also give me something to do as I would get bored after a few years of not working.
  • Luxury Fund - 1 million on stock market, appreciating at approx 10%. Used to fund one-off large expenses for the rest of my life (cars/house extension/renovating a room/adding another investment property to increase regular income/moving to a bigger/nicer home if required etc). Self-managed so, again, gives me something to do with my time as I would get bored otherwise.
  • Break-glass - 300K in a break-glass investment (combo of stock market and gold). Allowed to appreciate freely. Only ever to be used if, for some reason, the Luxury Fund has been significantly depleted for some reason.
TBH, I think I could probably retire today on less - 3 million (Reducing the Luxury fund by 250K and House by 250K)

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