@blessbrenda Depends on your current earnings and major outgoings like a mortgage and kids. Someone earning €100k/year with a mortgage and young two kids needs a lot more cash to sustain that than someone close to retirement with the kids all settled etc. Years ago, I chatted with a hedge fund manager in an airport waiting for a flight and his take on it was this, which I think it pretty accurate. It assumes a couple with young kids:
1 to 2mil - You clear all your existing debts but you're still going to work in the morning. Not much outwardly changes but you have no financial stress to consider. You've basically won a stress free life.
5mil - You can probably afford a little luxury (Second home, have a Ferrari the garage, take a trip or two per year first class etc) and can both retire early.
10mil - You can retire immediately, consider bigger properties and ultra luxuries like a private jet flights within Europe. You'd have a very comfortable life if you spend conservatively.
25mil - Basically live as you want. Provided you weren't playing huge hands in Vegas or being reckless, your set for life, as would be your kids.
For me, the sweet spot is 10m. You're rich enough to do as you want, but not rich enough to potentially start having rich person problems.